Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF SECURITIES
Market Information for Common Stock
Our common stock has traded on the NYSE under the symbol “AKA” since our initial public offering on September 22, 2021. Prior to that date, there was no public market for our common stock.
Stockholders of Record
American Stock Transfer & Trust Company, LLC is the transfer agent and registrar for our common stock. As of March 3, 2026, there were 11 stockholders of record of our common stock. The actual number of stockholders is greater than this number and includes stockholders whose shares are held in street name by brokers and other nominees, and stockholders whose shares may be held in trust by other entities.
Dividend Policy
We have never declared or paid cash dividends on our capital stock. We currently intend to retain any future earnings to finance the development and expansion of our business and do not expect to declare or pay any dividends in the foreseeable future. Any further determination to pay dividends on our capital stock will be at the discretion of our board of directors, subject to applicable laws, and will depend on our financial condition, operating results, capital requirements, general business conditions and other factors that our board of directors considers relevant. Our future ability to pay cash dividends on our capital stock is limited by the terms of our senior secured credit facility and may be limited by any future debt instruments or preferred securities.
Issuer Purchases of Equity Securities
On May 25, 2023, the Company’s board of directors approved a share repurchase program (the “Share Repurchase Program”), authorizing the Company to repurchase up to $2.0 million of shares of the Company’s common stock. Subsequently, in 2023, the Company’s board of directors approved an additional repurchase capacity under the Share Repurchase Program of $3.0 million of shares of the Company’s common stock. The timing of any repurchases by the Company and the actual number of shares repurchased are at the Company’s discretion, and, in deciding when to repurchase shares and the amount of shares to repurchase, the Company will consider available liquidity, general market and economic conditions, alternate uses for the capital and other factors. Share repurchases may be made from time to time through a Rule 10b5-1 trading plan, open market transactions, block trades or in private transactions in accordance with applicable securities laws and regulations and other legal requirements. The Share Repurchase Program may be suspended or discontinued at any time and has no expiration date. All repurchased shares under the Share Repurchase Program will be retired.
In July 2025 the Company repurchased 159,201 shares of its common stock from a former employee for cash and other consideration totaling $1.6 million, at an average price of $10.10 per share. This was a one-time transaction authorized by the board of directors that was not conducted pursuant to the Company’s Share Repurchase Program.
51
Table of Contents
The following table sets forth our share repurchase activity, on a settlement date basis, for the three months ended December 31, 2025:
Period Total Number of Shares Purchased 1
Average Price Paid per Share Total number of shares purchased as part of a publicly announced plan or program Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program
(millions) 2
October 1, 2025 - October 31, 2025
10,023 $ 10.07 — $ 1.0
November 1, 2025 - November 30, 2025
5,805 12.59 — 1.0
December 1, 2025 - December 31, 2025
238 11.07 — 1.0
Total 16,066 —
1 16,066 of these shares represent shares of common stock surrendered by certain of our employees to satisfy their statutory minimum U.S. federal and state tax obligations associated with the vesting of restricted shares of common stock issued under the 2021 Omnibus Incentive Plan. With respect to these surrendered shares, the price paid per share is based on the fair value at the time of surrender.
2 Reflects the dollar value of shares that may yet be repurchased under the Share Repurchase Program announced on May 25, 2023. The Company’s board of directors initially authorized the repurchase of an aggregate of $2.0 million of shares of common stock pursuant to the Share Repurchase Program. On December 18, 2023, the Company announced its board of directors approved an additional repurchase capacity under the Share Repurchase Program of $3.0 million of shares of the Company’s common stock.
ITEM 6. [Reserved]
Not applicable.
52
Table of Contents