What changed in this filing

/stocks — the workspaceLOADING

Item 5. Market for Registrant’s Common Equity

2026-02-26 compared with 2025-02-27 · 39 added, 16 removed, 41 unchanged (57% of the section changed)

5 unchanged sentences

market for our Class B common stock.

As of February 18, 2025 , there wer e 7 holders of record of our Class A common stock and 10 ho lders of record of our

As of February 17, 2026 , there were 4 holders of record of our Class A common stock and 7 holders of record of our

Class B common stock.

16 unchanged sentences

Securities Act.

There were no repurchases of our Class A common stock during the three months ended December 31, 2024 .

Note 14 to our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K for

additional information related to our current $450.0 million stock repurchase program with no expiration date, which was

publicly announced on February 29, 2024.

The following table presents information with respect to our repurchases of Class A common stock during the three

months ended December 31, 2025 .

Total Number of

Shares Repurchased (1)

Average Price Paid

per Share (2)

Total Number of Shares

Repurchased as Part of

Publicly Announced Program (1)

Approximate Dollar

Value of Shares that

Under the Program

(in thousands)

October 1 - 31

November 1 - 30

December 1 - 31

_____________________________________________________

(1) The repurchases are being executed from time to time, subject to general business and market conditions and

other investment opportunities, through open market purchases or privately negotiated transactions, which may

include repurchases through a trading plan intended to satisfy the affirmative defense conditions of Rule

10b5-1(c)(1) under the Exchange Act.

See Note 14 in the notes to our audited consolidated financial statements

included elsewhere in this Annual Report on Form 10-K for additional information related to our current $450.0

million stock repurchase program with no expiration date, which was publicly announced on February 29, 2024.

(2) Average price paid per share includes direct costs and estimated excise taxes associated with the repurchases.

Performance Graph

4 unchanged sentences

specifically incorporate it by reference into such filing.

The following graph depicts the total cumulative stockholder return on our Class A common stock from September 23,

2020 , the first day of trading of our Class A common stock on the Nasdaq Global Select Market, through December 31,

2024 , relative to the performance of the Nasdaq Composite Index and the two industries we intersect, namely, the Dow

Jones Internet Services Index and S&P 500 Healthcare Index.

The graph assumes an initial investment of $100 at the close

of trading on September 23, 2020 and that all dividends paid by companies included in these indices have been reinvested.

The performance shown in the graph below is not intended to forecast or be indicative of future stock price performance.

The following graph depicts the total five-year cumulative stockholder return on our Class A common stock from

December 31, 2020 through December 31, 2025 , relative to the performance of the Nasdaq Composite Index and the two

industries we intersect, namely, the Dow Jones Internet Services Index and S&P 500 Healthcare Index.

The graph assumes

an initial investment of $100 at the close of trading on December 31, 2020 and that all dividends paid by companies included

in these indices have been reinvested.

The performance shown in the graph below is not intended to forecast or be

indicative of future stock price performance.

Use of Proceeds

5 unchanged sentences

Registration Statement.

As of December 31, 2024 , we estimated we had used approximatel y $586.4 million of the net

As of December 31, 2025 , we estimated we had used approximatel y $867.4 million o f the net

proceeds from our IPO:

2 unchanged sentences

for the repurchases of our Class A common stock;

and (iii) $160.0 million for the repayment of our outstanding debt

As of December 31, 2024 , we had $300.5 million estimated remaining net proceeds from our IPO which have

been invested in investment grade, interest-bearing instruments.

(iii) $160.0 million for the repayment of our outstanding debt obligations;

and (iv) $73.9 million for working capital and other general corporate purposes.

As of December 31, 2025 , we had $19.5

million estimated remaining net proceeds from our IPO which have been invested in investment grade, interest-bearing

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.

What changed 10-K

Item 5. Market for Registrant’s Common Equity