Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: The following table illustrates the activities of equity security repurchases during the three months ended at March 31, 2025.
−Removed: Total Number of Shares Purchased(a) Weighted Average Price Paid per Share Total Number of Shares Purchased Under Announced Programs Approximate Dollar Value of Shares That May Yet be Purchased Under Announced Programs
+Added: The following table illustrates the activities of equity security repurchases during the three months ended at June 30, 2025.
+Added: Total Number of Shares Purchased (a)(c) Average Price Paid per Share(b) Total Number of Shares Purchased As Part of Publicly Announced Plans or Programs (a) Approximate Dollar Value of Shares That May Yet be Purchased Under the Plans or Programs (a)
4/1/2025 to 4/30/2025 1,986,667 $ 13.02 1,501,291
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6/1/2025 to 6/30/2025 — — —
−Removed: Total 1,493 $ 11.04 — $ —
+Added: Total 2,290,209 $ 13.06 1,793,279 $ 75 Million
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−Removed: (a) Shares purchased were due to shares delivered by employees to the Company for the payment of taxes resulting from issuance of common stock upon the vesting of RSUs relating to stock-based compensation plans.
+Added: On April 11, 2025, our Board of Directors approved a stock repurchase program authorizing the Company to repurchase up to $100 million of its common stock.
+Added: Under this program, the Company may repurchase shares from time to time, depending on market conditions and alternate uses of capital.
+Added: The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions and alternate uses of capital.
+Added: The share repurchase program may be effected through Rule 10b5-1 plans, open market purchases, each in compliance with Rule 10b-18 under the Exchange Act, or privately negotiated transactions.
+Added: The program may be suspended or discontinued at any time and does not have an expiration date.
+Added: During the three months ended June 30, 2025, the Company repurchased 1,793,279 shares of its common stock in the initial tranche at an average price of $13.92 per share, as part of the stock repurchase program authorized on April 11, 2025.
+Added: The Company’s net share repurchases are subject to a 1% excise tax under the Inflation Reduction Act.
+Added: This excise tax is included in the cost of shares repurchased, as reflected in the condense consolidated statement of stockholders’ equity.
+Added: The repurchases above do not include the excise tax.
+Added: Also includes shares purchased by the Company from employees for the payment of taxes resulting from issuance of common stock upon the vesting of RSUs and PSUs relating to stock-based compensation plans.
+Added: Employees tendered 485,376 shares in April 2025 and 11,554 shares in May 2025.
Defaults Upon Senior Securities
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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.