6 unchanged sentences
Holders of Record
−Removed: As of May 26, 2020, there were seven stockholders of record of our Class A common stock.
+Added: As of May 25, 2021, there were four stockholders of record of our Class A common stock.
The number of record holders does not include persons who held shares of our Class A common stock in nominee or “street name” accounts through brokers.
19 unchanged sentences
Issuer Purchases of Equity Securities
−Removed: The following table provides information about our share repurchase activity for the quarter ended March 31, 2020:
+Added: The following table provides information about our repurchase activity with respect to shares of our Class A common stock for the quarter ended March 31, 2021:
Purchased(1) Average Price
53 unchanged sentences
168,239 127,292 117,736 132,586 83,031
−Removed: Compensation expense on deferred incentive fee revenue (3)
−Removed: — — — — 20,348
Balance Sheet Data
8 unchanged sentences
546,318 236,128 190,869 157,721 153,990
−Removed: Total equity (deficit) 237,401 169,722 136,074 86,627 (111,938)
+Added: Total equity 314,201 237,401 169,722 136,074 86,627
Total liabilities and equity
1,136,519 473,529 360,591 293,795 240,617
−Removed: (1) Represents earnings per share of Class A common stock and weighted-average shares of Class A common stock outstanding for the period from March 6, 2017 through March 31, 2017, the period following the Reorganization and IPO.
(1) Adjusted EBITDA and Fee Related Earnings (“FRE”) are non-GAAP measures.
For a further discussion of our non-GAAP measures and a reconciliation from GAAP financial measures to non-GAAP financial measures, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures” included in Part II, Item 7 of this Form 10-K.
−Removed: (3) In accordance with our accounting policy with respect to the recognition of incentive fee income, we did not recognize $41.5 million in carried interest distributions received from specialized funds in fiscal 2016, as all contingencies had not been resolved.
−Removed: However, incentive fee compensation expense of $20.3 million related to the receipt of this carried interest was recognized in fiscal 2016.
−Removed: We reduced the deferred incentive fee revenue balance in fiscal 2018 by $38.9 million from the recognition of the deferred carried interest in that period.
−Removed: The $20.3 million is separately presented above to highlight the incentive fee compensation expense for which we did not recognize the associated incentive fee revenue.
−Removed: The compensation expense on deferred incentive fee revenue comprises $9.9 million of bonus and other revenue sharing allocations classified as base compensation and $10.4 million of incentive fee compensation.
−Removed: We incurred additional incentive fee compensation expense of $11.4 million in fiscal 2016 associated with incentive fee revenue that is not reflected in this figure.
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.