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
Our common stock is traded on the New York Stock Exchange (symbol: AMG). As of February 12, 2026 , there were 24
stockholders of record , including banks, brokers, and other financial institutions holding shares in omnibus accounts for their
customers (in total representing substantially all of the beneficial holders of our common stock).
Iss uer Purchases of Equity Securities
Period
Total Number
of Shares
Purchased (1)
Average Price
Paid Per Share
Total Number of
Shares Purchased as
Part of Publicly
Announced Plans or
Programs
Average Price
Paid Per Share
Maximum Number of
Shares that May Yet Be
Purchased Under
Outstanding Plans or
Programs (2)
October 1-31, 2025 . . . . . . . . . . .
200,499
$ 238.98
200,499
$ 238.98
3,150,971
November 1-30, 2025 . . . . . . . . .
790,725
257.88
790,725
257.88
2,360,246
December 1-31, 2025 . . . . . . . . .
357,293
274.76
357,293
274.76
2,002,953
Total . . . . . . . . . . . . . . . . . . . . .
1,348,517
$ 259.54
1,348,517
$ 259.54
___________________________
(1) Includes shares surrendered to the Company to satisfy tax withholding and/or option exercise price obligations in
connection with certain stock swap and option exercise transactions, if any.
(2) Our Board of Directors authorized share repurchase programs in July 2024 and January 2026 to repurchase up to 5.4
million and 4.2 million shares of our common stock, respectively, and these authorizations have no expiry. Purchases may
be made from time to time, at management’s discretion, in the open market or in privately negotiated transactions,
including through the use of trading plans, as well as pursuant to accelerated share repurchase programs or other share
repurchase strategies that may include derivative financial instruments. As of the January 26, 2026 authorization, there
were a total of 6.0 million shares available for repurchase under our share repurchase programs.
For the years ended December 31, 2023 , 2024 , and 2025 , we repurchased 3.0 million , 4.3 million , and 3.3 million shares of
our common stock at an average price per share of $132.99 , $162.65 , and $212.92 , respectively.
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Performance Graph
Our peer group comprises AllianceBernstein Holding L.P., Artisan Partners Asset Management Inc., The Carlyle Group
Inc., Federated Hermes, Inc., Franklin Resources, Inc., Invesco Ltd., Janus Henderson Group plc, Lazard, Inc., StepStone
Group Inc., TPG Inc., T. Rowe Price Group, Inc., and Victory Capital Holdings, Inc. Prior to 2025, our peer group also
included Blue Owl Capital Inc. and Virtus Investment Partners, Inc., and did not include StepStone Group Inc. and T. Rowe
Price Group, Inc. I n keeping with its regular review and evaluation of the peer group, the Compensation Committee of our
Board of Directors further refined our peer group in 2025 to reflect our Company’s growth, overall changes in the asset
management industry, and the business models, size, and scope of our competitors. The following graph compares the
cumulative stockholder return on our common stock from December 31, 2020 through December 31, 2025 , with the cumulative
total return, during the same period, on the Standard & Poor’s MidCap 400 Index, our prior peer group, and our current peer
group. The comparison below assumes the investment of $100 on December 31, 2020 in our common stock and each of the
comparison indices and, in each case, assumes reinvestment of all dividends.
Item 6. [Reserved]
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