2 unchanged sentences
The approximate number of beneficial shareholders of Class A and Class B common stock as of February 10, 2026, was 1 and 54,111, respectively.
−Removed: See Item 1A – Risk Factors – Specific Risk Factors – Risk Related to Federated Hermes’ Corporate Structure – Status as a Controlled Company for additional information on its Class A common stock.
+Added: See Item 1A – Risk Factors – Specific Risk Factors – Risk Related to Federated Hermes’ Common Stock and Corporate Structure – Common Stock and Status as a Controlled Company for additional information on its Class A common stock.
The following table summarizes stock repurchases under Federated Hermes’ share repurchase programs during the fourth quarter 2025.
12 unchanged sentences
Total 1,566,901 $ 50.21 1,547,693 4,596,622
−Removed: 1 In October 2023, the board of directors authorized a share repurchase program with no stated expiration date that allows the repurchase of up to 5.0 million shares of Class B common stock.
−Removed: In October 2024, the board of directors authorized an additional share repurchase program with no stated expiration date that allows the repurchase of up to 5.0 million shares of Class B common stock.
−Removed: No other programs existed as of December 31, 2024.
+Added: 1 In October 2024, the board of directors authorized a share repurchase program with no stated expiration date that allowed the repurchase of up to 5.0 million shares of Class B common stock.
+Added: This program was fulfilled in December 2025.
+Added: In July 2025, the board of directors authorized an additional share repurchase program with no stated expiration date that allows the repurchase of up to 5.0 million shares of Class B common stock.
+Added: No other program existed as of December 31, 2025.
See Note (14) to the Consolidated Financial Statements for additional information.
−Removed: 2 In October, November and December 2024, 10,626, 14,507 and 2,400 shares, respectively, of Class B common stock with a weighted-average price of $13.70, $0.00 and $3.00 per share, respectively, were repurchased primarily as a result of employee-forfeited restricted stock.
+Added: 2 In October, November and December 2025 , 4,479, 3,879 and 10,850 shares, respectively, of Class B common stock with a weighted-average price of $2.55, $0.00 and $2.40 per share, respectively, were repurchased as a result of employee-forfeited restricted stock.
See Item 12 – Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters for information on Federated Hermes’ securities authorized for issuance under equity compensation plans.
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The following performance graph compares the total shareholder return of an investment in Federated Hermes’ Class B common stock to that of the Standard and Poor’s MidCap 400 ® Index (S&P MidCap 400 Index) and to the S&P 1500 Asset Management & Custody Banks Index for the five-year period ended on December 31, 2025.
−Removed: The graph assumes that the value of the investment in Class B common stock and each index was $100 on December 31, 2019.
+Added: The graph assumes that the value of the investment in Federated Hermes’ Class B common stock and each index was $100 on December 31, 2020.
Total return includes reinvestment of all dividends.
9 unchanged sentences
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.