1 unchanged sentence
Market Information
−Removed: The Company’s Class A Common Stock is traded on the New York Stock Exchange under the symbol “KNTK”.
−Removed: The Company’s public warrants are quoted on the over-the-counter markets operated by OTC Markets Group under the symbol “ALTMW.” The warrants may still be exercised in accordance with their terms to purchase shares of the Company’s Class A Common Stock.
−Removed: On February 28, 2023, the Class A Common Stock had a closing price of $29.75, and the warrants had a closing price of $0.001.
−Removed: On February 28, 2023, there were 204 holders of record of the Company’s Class A Common Stock and nine holders of record of the Company’s Class C Common Stock.
−Removed: Holders of the Company’s common stock are entitled to receive cash dividends when declared by the Company’s Board out of legally available funds.
−Removed: The Board presently intends to continue the policy of paying quarterly cash dividends, however, future dividend payments will depend upon our level of earnings, capital expenditure requirements, debt obligation, financial condition and other relevant factors.
+Added: The Company’s Class A Common Stock is traded on the NYSE under the symbol “KNTK”.
+Added: The Company’s public and private warrants expired as of November 9, 2023.
+Added: On February 29, 2024, the Class A Common Stock had a closing price of $35.32.
+Added: On February 29, 2024, there were 200 holders of record of the Company’s Class A Common Stock and nine holders of record of the Company’s Class C Common Stock, par value $0.0001 per share (“Class C Common Stock”).
+Added: Holders of the Company’s Class A Common Stock are entitled to receive cash dividends when declared by the Company’s Board out of legally available funds.
+Added: The Board intends to continue the policy of paying quarterly cash dividends, however, future dividend payments will depend upon our level of earnings, capital expenditure requirements, debt obligations, financial condition and other relevant factors.
Recent Sales of Unregistered Securities
Purchase of Equity Securities by the Issuer and Affiliated Purchasers
+Added: In February 2023, the Board approved a stock repurchase program (“Repurchase Program”), authorizing discretionary purchases of the Company’s Class A Common Stock up to $100.0 million in the aggregate.
+Added: The Repurchase Program allowed us to reduce dilution and potentially acquire shares at levels that we believe do not reflect the fundamental earnings power of the Company during 2023, 2024 and thereafter.
+Added: Repurchases may be made at management’s discretion from time-to-time throughout the year, in accordance with applicable securities laws on the open market, a trading plan, or through privately negotiated transactions.
+Added: There was no unregistered sale of equity securities or repurchase activities during the three months ended December 31, 2023.
+Added: During 2023, the Company repurchased and retired 194,174 shares at a total cost of $5.8 million.
+Added: For more information regarding the non-deductible 1% U.S.
+Added: federal excise tax imposed on certain repurchases of stock by publicly traded U.S.
+Added: corporations, please refer to Part I—Item 1A Risk Factors—Risks Related to Ownership of our Common Stock .
+Added: Index to Financial Statements
Performance Graph
−Removed: The graph and table below compares the Company’s cumulative return to holders of its common stock, the NASDAQ Composite Index, the NYSE Composite Index and the Alerian US Midstream Energy Index during the period beginning on December 31, 2017 and ending on December 31, 2022.
−Removed: The NYSE Composite Index was added to the performance graph because the Company changed the listing of its Class A Common Stock to the NYSE from the Nasdaq in October 2022.
+Added: The graph and table below compares the Company’s cumulative return to holders of its common stock, the NASDAQ Composite Index, the NYSE Composite Index and the Alerian U.S.
+Added: Midstream Energy Index during the period beginning on December 31, 2018 and ending on December 31, 2023.
+Added: The NASDAQ Composite Index was included here as the Company’s Class A Common Stock was traded on NASDAQ prior to switching to NYSE in October 2022.
In accordance with SEC rules, the performance graph presents both the indices used in the previous year and the newly selected index.
The performance graph was prepared based on the following assumptions:
−Removed: (i) $100 was invested in our Class A Common Stock and in each of the indices at beginning of the period, and (ii) dividends were reinvested on the relevant payment dates.
+Added: (i) $100 was invested in our Class A Common Stock and in each of the indices at the beginning of the period, and (ii) dividends were reinvested on the relevant payment dates.
The stock price performance included in this graph is historical and not necessarily indicative of future stock price performance.
9 unchanged sentences
Alerian US Midstream Energy Index 100.00 97.96 62.27 80.29 97.65 114.16
+Added: Index to Financial Statements
+Added: Index to Financial Statements
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.