Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
Our common stock is traded on the New York Stock Exchange under the symbol “KGS”.
Holders
At the close of business on February 23, 2026, based on information received from the transfer agent of our common stock, we had 90 holders of record of our common stock. The number of record holders does not include holders of common units held in “street name” or persons, partnerships, associations, corporations, or other entities identified in security position listings maintained by depositories.
Dividends
On January 28, 2026, our Board declared a quarterly dividend of $0.49 per share of common stock, or approximately $43.1 million, which was paid on February 20, 2026, to stockholders of record at the close of business on February 13, 2026. The declaration and payment of future dividends will be at the discretion of the Board and will depend on future business conditions, financial conditions, results of operations and other factors. Based on current circumstances, we expect to continue to pay comparable cash dividends in the foreseeable future.
The performance graph below compares total shareholder return on our common stock from the initial public offering date of June 29, 2023, to December 31, 2025, with the Standard & Poor’s 500 ® Index (“S&P 500”) and Alerian US Midstream Energy Index (“AMUSX”) over the same period. The results are based on an investment of $100 in each of our common stock, the S&P 500, and the AMUSX. The graph assumes reinvestment of dividends and adjusts all closing prices and dividends for stock splits.
The performance graph shall not be deemed incorporated by reference by any general statement incorporating by reference this Annual Report into any filing under the Securities Act or the Exchange Act, except to the extent that we specifically incorporate this information by reference, and shall not otherwise be deemed filed under those Acts.
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Table of Contents
Unregistered Sales of Equity Securities
None.
Repurchases of Equity Securities by Issuer and Affiliated Purchasers
The following table contains information about our purchases of our common stock during the three months ended December 31, 2025 (in thousands).
Period Total Number of Shares Purchased Average Price Paid Per Share (1)
Total Number of Shares Purchased as Part of a Publicly Announced Program (2) (3)
Maximum Dollar Value of Shares that May Yet Be Purchased Under the Program (2)
October 1-31, 2025 — — — —
November 1-30, 2025 1,000 $ 33.34 1,000 $ 31,699
December 1-31, 2025 — — — —
Total 1,000 $ 33.34 1,000 $ 31,699
(1)
Excluding fees, commissions, and expenses associated with the share repurchases.
(2)
On November 14, 2024, the Company announced that our Board approved the Share Repurchase Program to buy up to an aggregate of $50.0 million of our outstanding common stock. The Share Repurchase Program was previously to expire on December 31, 2025. In August 2025, the Board approved a $100.0 million increase to the Share Repurchase Program and extended the expiration date to December 31, 2026.
(3)
On November 13, 2025, we repurchased from Kodiak Holdings 1.0 million shares of our common stock in a private transaction pursuant to the Share Repurchase Program at a price per share of $33.34.
Item 6. [ Reserved ]