4 unchanged sentences
Because the substantial majority of the outstanding shares of our Class A Common Stock are held by brokers and other institutions on behalf of shareholders, we are not able to estimate the total number of beneficial shareholders represented by these record holders.
−Removed: As of February 7, 2025, there was one holder of record and beneficial shareholder of our Class B common stock.
−Removed: We do not currently expect that any cash or other dividends will be paid to holders of our Class A or Class B common stock in the near future.
+Added: As of February 6, 2026, we had no outstanding shares of our Class B Common Stock or Class C Common Stock.
+Added: We do not currently expect that any cash or other dividends will be paid to holders of our Class A Common Stock in the near future.
Any future cash dividend or other dividend declarations are subject to the determination of the Company’s board of directors.
1 unchanged sentence
There were no unregistered sales of our capital stock during the quarter ended December 31, 2025.
+Added: Equity Compensation Plan Information
+Added: The information required by this Item concerning equity compensation plans is incorporated herein by reference from Part III, Item 12 of this annual report.
Issuer Purchases of Equity Securities
9 unchanged sentences
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−Removed: (1) On August 2, 2024, the board of directors of the Company approved a new stock repurchase authorization of 25 million shares (the “2024 Share Authorization”).
−Removed: Reflects repurchases made pursuant to the 2024 Share Authorization.
−Removed: (2) Represents the total number of shares of Class A common stock that remained available for repurchase as of December 31, 2024 pursuant to the 2024 Share Authorization.
−Removed: The Company may repurchase shares pursuant to the 2024 Share Authorization over an indefinite period of time in the open market and in privately negotiated transactions, depending on those factors Company management deems relevant at any particular time, including, without limitation, market conditions, share price and future outlook.
+Added: (1) Reflects repurchases made pursuant to May 2025 Share Authorization and September 2025 Share Authorization (collectively, the “2025 Share Authorizations”), which were publicly announced in May 2025 and November 2025, respectively.
+Added: For additional details, see “Item 7.
+Added: Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources.”
+Added: (2) Represents the total number of shares of Class A Common Stock that remained available for repurchase as of the end of the relevant month set forth in the table above pursuant to the 2025 Share Authorizations.
+Added: Pursuant to May 2025 Share Authorization and September 2025 Share Authorization, the Company was allowed to repurchase up to 5.0 million shares and approximately 3.2 million shares of Class A Common Stock, respectively, over an indefinite period of time in the open market and in privately negotiated transactions, depending on those factors Company management deems relevant at any particular time, including, without limitation, market conditions, share price and future outlook.
+Added: May 2025 Share Authorization and September 2025 Share Authorization were exhausted in October 2025 and December 2025, respectively.
From January 1, 2026 through February 6, 2026, the Company did not repurchase any additional shares.
−Removed: As of February 7, 2025, there were approximately 23.1 million shares remaining in the 2024 Share Authorization.
+Added: As of February 6, 2026, there were no shares of Class A Common Stock remaining for repurchase under the September 2025 Share Authorization.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.