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On February 20, 2024, there were 2,125 holders of our class A common stock and one holder of our class B common stock (which, in each case, does not reflect the beneficial ownership of shares held in nominee name).
−Removed: Reverse Stock Split
−Removed: In August 2022, the Company effectuated a one-for-four reverse stock split of its outstanding shares of class A and class B common stock.
−Removed: The number of authorized shares of common stock was not adjusted in connection with the reverse stock split, however, the Company intends to seek stockholder approval to make a proportional change to the number of authorized shares of class A and class B common stock at its next annual meeting of stockholders.
−Removed: Par value of common stock was proportionately increased from $0.01 to $0.04 per share.
−Removed: Throughout this Annual Report, common stock share and per share information, including OP units and stock award units, as well as the Company's senior note conversion or exchange ratio in common stock shares, have been revised for all periods presented to give effect to the reverse stock split.
Holders of our common stock are entitled to receive distributions only if and when our board of directors authorizes and declares distributions.
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We reinstated quarterly common stock dividends in the third quarter of 2022, having previously suspended common stock dividends for the second quarter of 2020 through the second quarter of 2022.
−Removed: Common stock dividends were $0.01 per share for each of the third and fourth quarters of 2022.
Recent Sales of Unregistered Securities;
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Purchases of Equity Securities by Issuer and Affiliated Purchasers
−Removed: Pursuant to a stock repurchase program authorized by our board of directors in July 2022, the Company may repurchase up to $200 million of its outstanding shares of class A common stock and/or preferred stock through various methods, including open market repurchases, negotiated block transactions, accelerated share repurchases, open market solicitations and Rule 10b5-1 plans.
−Removed: The stock repurchase program expires on June 30, 2023 and may be extended, modified, or discontinued at any time.
−Removed: The following table presents information related to purchases of the Company's class A common stock during the quarter ended December 31, 2022:
−Removed: Period Total Number of Shares Purchased Weighted Average Price Paid Per Share Total Number of Shares
−Removed: Purchased as Part of
−Removed: Publicly Announced
−Removed: Program Maximum Approximate
−Removed: Dollar Value that May
−Removed: Yet Be Purchased
−Removed: Under the Program
−Removed: ($ in thousands)
−Removed: October 1 through October 31, 2022 3,250,450 $ 12.71 3,250,450 $ 92,430
−Removed: November 1 through November 30, 2022 — — — 92,430
−Removed: December 1 through December 31, 2022 — — — 92,430
−Removed: 3,250,450 $ 12.71 3,250,450 $ 92,430
−Removed: (1) Represent stock purchases pursuant to the repurchase program described above.
+Added: The Company did not have an authorized stock repurchase program as of December 31, 2023.
Stock Performance Graph
−Removed: The following graph compares the cumulative total return on our class A common stock with the cumulative total returns on the Standard & Poor’s 500 Composite Stock Price Index (“S&P 500”), MSCI US REIT Index ("RMZ"), and Dow Jones U.S.
+Added: The following graph compares the cumulative total return on our class A common stock with the cumulative total returns on the Standard & Poor’s 500 Composite Stock Price Index (“S&P 500”), and Dow Jones U.S.
Asset Managers Index ("DJUSAG") from December 31, 2018 to December 31, 2023.
−Removed: Beginning 2022, DJUSAG is selected as the most comparable industry index to replace RMZ.
−Removed: This change is consistent with DBRG's current core business of investment management and with DBRG no longer maintaining REIT status effective 2022.
The graph assumes an investment of $100 in our common stock and each of the indices on December 31, 2018 and the reinvestment of all dividends.
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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.