Lineage, Inc. 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Information The Company’s common stock has been listed on the Nasdaq Global Select Market under the symbol “LINE” since July 26, 2024. Prior to that date, there was no public trading market for the Company’s common stock. Holders As of February 19, 2026, the Company had 99 shareholders of record of the Company’s common stock. The number of beneficial owners is substantially greater than the number of shareholders of record because a large portion of the common stock is held in “street name” by brokers, banks, and other financial institutions. Dividends We currently pay a quarterly cash dividend and expect to continue paying regular dividends on a quarterly basis. Any future determination to pay dividends, including the timing, form, and amount, will be at the discretion of our board of directors and will depend on a number of factors, including our actual and projected results of operations, Core FFO, Adjusted FFO, EBITDA, EBITDAre, Adjusted EBITDA, liquidity, cash flows and financial condition, the revenue we actually receive from our properties, our operating expenses, our debt service requirements, our capital expenditures, prohibitions and other limitations under our financing arrangements, our REIT taxable income, the annual REIT distribution requirements, applicable law, including restrictions on distributions under Maryland law, and such other factors as our board of directors deems relevant. Refer to Note 2, Capital structure and noncontrolling interests in the consolidated financial statements included in this Annual Report for information about dividends declared on our common stock and other units. Issuer Purchases of Equity Securities The following table summarizes share repurchase activity for the three months ended December 31, 2025: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Programs Approximate Dollar Value of Shares that May Yet be Purchased Under the Program (in millions) October 1 - October 31, 2025 — $ — — $ — November 1 - November 30, 2025 1,058,328 (1) $ 117.02 — $ — December 1 - December 31, 2025 268,275 (1) $ 87.80 — $ — Total 1,326,603 — (1) Certain of the Company’s Put Options were settled during the three months ended December 31, 2025. As a result of this settlement, certain shares of common stock were repurchased at an above-market price. Additionally, during December 2025, the Company repurchased certain shares of common stock at market value. For further information, see Note 2, Capital structure and noncontrolling interests in the consolidated financial statements included in this Annual Report. Recent Sales of Unregistered Securities We sold no unregistered securities that have not been previously included in a Quarterly Report on Form 10-Q. Performance Graph The following graph compares the cumulative total return to stockholders of our common stock relative to the cumulative total returns of the S&P Global 500 Index (“S&P 500”) and the MSCI US REIT Index (“RMZ”). All share price performance assumes an initial investment of $100 at the beginning of the period and assumes the reinvestment of dividends. As the Company’s common stock began trading on July 26, 2024, an investment of $100 is assumed to have been made on that date, and its relative 63 performance is tracked through December 31, 2025. The returns shown on the below graph are not necessarily indicative of future performance. Item 6. [Reserved]