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On August 25, 2025, the last reported sale price on the Nasdaq Global Select Market of our Class A Common Stock was $39.03 per share.
−Removed: As of August 23, 2024, we had approximately four holders of record of our Class A Common Stock and 12 holders of record of our Class B Common Stock.
+Added: As of August 25, 2025, we had approximately five holders of record of our Class A Common Stock and 12 holders of record of our Class B Common Stock.
The actual number of holders of Class A Common Stock is greater than this number of record holders, and includes stockholders who are beneficial owners, but whose shares of Class A Common Stock are held in street name by brokers and other nominees.
1 unchanged sentence
has never declared or paid any cash dividends on its capital stock.
−Removed: We previously announced that we intend to return capital of at least $10.0 million per quarter from May 2024 through May 2025 through either the repurchase of stock or dividend payments.
−Removed: To date, we have returned capital to our stockholders through the repurchase of our stock and have not declared any dividends.
Any future determination to declare cash dividends will be made at the discretion of our board of directors, subject to applicable law and will depend on our financial condition, results of operations, capital requirements, general business conditions and other factors that our board of directors may deem relevant.
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Issuer Purchases of Equity Securities
−Removed: On November 3, 2022, our Board of Directors authorized a stock repurchase program to allow for the repurchase of up to $100.0 million of our Class A Common Stock and the LLC's LLC Units (the “2022 Repurchase Program”) for the period from November 8, 2022 to November 8, 2023.
−Removed: Between July 1, 2023 and November 8, 2023, we repurchased 261,962 shares of Class
−Removed: A Common Stock for $12.5 million in cash including related fees and expenses under the 2022 Repurchase Program which expired on November 8, 2023.
On October 26, 2023, our Board of Directors authorized a new stock repurchase program (the "2023 Repurchase Program") to allow for the repurchase of up to $100.0 million of our Class A Common Stock and the LLC's LLC Units for the period from November 8, 2023 to November 8, 2024.
−Removed: Our 2023 Share Repurchase Program does not obligate us to repurchase a minimum amount of shares.
−Removed: Under the program, shares of Class A Common Stock may be repurchased in privately negotiated or open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.
−Removed: Between November 8, 2023 and June 30, 2024, we repurchased 437,996 shares of Class A Common Stock for $17.3 million in cash including related fees and expenses under the 2023 Repurchase Program.
−Removed: As of June 30, 2024, $82.7 million was available to repurchase shares of Class A Common Stock and LLC Units under the 2023 Repurchase Program.
−Removed: We previously announced that we intend to return capital of at least $10.0 million per quarter from May 2024 through May 2025 through either the repurchase of stock or dividend payments.
−Removed: To date, we have returned capital to our stockholders through the repurchase of our stock and have not declared any dividends.
+Added: Between July 1, 2024 and November 8, 2024, we repurchased 519,466 shares of Class A Common Stock for $20.2 million in cash including related fees and expenses under the 2023 Repurchase Program which expired on November 8, 2024.
+Added: On October 23, 2024, our Board of Directors authorized a stock repurchase program to allow for the repurchase of up to $50.0 million of our Class A Common Stock and the LLC's LLC Units (the “2024 Repurchase Program”) for the period from November 8, 2024 to June 30, 2025.
+Added: Between November 8, 2024 and June 30, 2025, we repurchased 478,325 shares of Class A Common Stock for $15.8 million in cash including related fees and expenses under the 2024 Repurchase Program, which expired on June 30, 2025.
For the fiscal year ended June 30, 2025, we repurchased 997,791 shares of our Class A Common Stock for $36.0 million in cash.
+Added: In June 2025, our Board of Directors authorized a stock repurchase program to allow for the repurchase of up to $50.0 million of our Class A Common Stock and the LLC’s LLC Units (the "2025 Repurchase Program") for the period from July 1, 2025 to June 30, 2026.
+Added: Our 2025 Share Repurchase Program does not obligate us to repurchase a minimum amount of shares.
+Added: Under the program, shares of Class A Common Stock may be repurchased from time to time in privately negotiated or open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.
Stock repurchase activity during the three months ended June 30, 2025 was as follows:
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May 1, 2025 through May 31, 2025 47,250
+Added: 29.63 47,250 34,244
June 1, 2025 through June 30, 2025 — — — 34,244
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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.