CHEESECAKE FACTORY INC 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. The following table presents our purchases of our common stock during the fiscal quarter ended March 31, 2026 (in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Number of ​ Maximum Number ​ ​ ​ ​ ​ ​ Shares Purchased ​ of Shares that May ​ ​ Total Number ​ ​ ​ as Part of Publicly ​ Yet be Purchased ​ ​ of Shares ​ Average Price ​ Announced Plans ​ Under the Plans or Period ​ ​ ​ Purchased (1) ​ ​ ​ Paid per Share (2) ​ ​ ​ or Programs ​ ​ ​ Programs December 31, 2025 — February 3, 2026 34 ​ $ 51.04 20 1,051 February 4 — March 3, 2026 183 ​ 59.40 5 5,868 March 4 — March 31, 2026 115 ​ 57.05 115 5,753 Total 332 ​ ​ 140 ​ (1) The total number of shares purchased include 191,984 shares withheld upon vesting of restricted share awards to satisfy tax withholding obligations. (2) The dollar value of shares repurchased excludes excise tax due under the Inflation Reduction Act of 2022. On February 12, 2026, our Board increased the authorization to repurchase our common stock by 5.0 million shares to 66.0 million shares. Under this authorization, we have cumulatively repurchased 60.2 million shares at a total cost of $2,002.8 million, excluding excise tax, through March 31, 2026 with 0.3 million shares repurchased at a cost of $19.2 million, excluding excise tax, during the first quarter of fiscal 2026. Our share repurchase program does not have an expiration date, does not require us to purchase a specific number of shares and may be modified, suspended or terminated at any time. The timing and number of shares repurchased are subject to legal constraints and financial covenants under our Loan Agreement that limit share repurchases based on a defined ratio. (See Note 8 of Notes to Condensed Consolidated Financial Statements in Part I, Item 1 of this report for further discussion of our repurchase authorization.) ​