5 unchanged sentences
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.
−Removed: 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.
+Added: The Board intends to continue the policy of paying quarterly cash dividends;
+Added: 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
−Removed: 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.
−Removed: 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.
−Removed: 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.
−Removed: Except as already disclosed in the Company’s Current Report on From 8-K dated May 13, 2024, there were no repurchase activities during the three and twelve months ended December 31, 2024.
−Removed: For more information regarding the non-deductible 1% U.S.
−Removed: federal excise tax imposed on certain repurchases of stock by publicly traded U.S.
−Removed: corporations, please refer to Part I—Item 1A Risk Factors—Risks Related to Ownership of our Common Stock .
+Added: The following table sets forth information with respect to repurchases made by the Company of its Class A Common Stock in the open market or in privately negotiated transactions under the $500.0 million Repurchase Program during the fourth quarter of 2025:
+Added: Period Total Number of Shares Purchased (1)
+Added: Average Price per Share (2)
+Added: Total Number of Shares Purchased as Part of Publicly Announced Plan (1)
+Added: Maximum number (or approximate dollar value) of Shares that May Yet be Purchased under the Plans (in thousands) (1)
+Added: October 1 to October 31, 2025
+Added: 91,252 $ 37.82 91,252 $ 318,238
+Added: November 1 to November 30, 2025
+Added: — $ — — $ 318,238
+Added: December 1 to December 31, 2025
+Added: — $ — — $ 318,238
+Added: (1) In February 2023, our Board approved the Stock Repurchase Program (“Repurchase Program”) for the repurchase of up to $100.0 million of our outstanding Class A Common Stock.
+Added: In May 2025, our Board approved a $400.0 million increase to the previously announced Repurchase Program, pursuant to which we are authorized to repurchase the Company’s Class A Common Stock for an aggregate purchase price of up to $500.0 million.
+Added: Repurchases may be made at management’s discretion from time to time, in accordance with applicable securities laws, on the open market or through privately negotiated transactions and may be made pursuant to a trading plan meeting the requirements of Rule 10b5-1 under the Exchange Act.
+Added: (2) Average price paid per share includes commission to repurchase shares.
Index to Financial Statements
18 unchanged sentences
Index to Financial Statements
−Removed: 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.