1 unchanged sentence
Market Information for Common Stock
−Removed: Our Class A common stock has traded on the Nasdaq Global Select Market under the symbol “MQ” since our IPO on June 9, 2021.
−Removed: Prior to that date, there was no public market for our common stock.
−Removed: There is no public trading market for our Class B common stock.
+Added: Our Class A common stock trades on the Nasdaq Global Select Market under the symbol “MQ.” There is no public trading market for our Class B common stock.
As of February 20, 2026, we had 29 holders of record of our Class A common stock and 34 holders of record of our Class B common stock.
10 unchanged sentences
Purchase of Equity Securities by the Issuer
−Removed: The following table contains information relating to the repurchases of our common stock made by us in the three months ended December 31, 2024:
+Added: The following table contains information relating to the repurchases of our common stock made by us in the three months ended December 31, 2025 (in thousands, except per share amounts):
Period Total Number of
10 unchanged sentences
Total 20,167 20,167
−Removed: (1) On May 6, 2024, the Company’s board of directors authorized a share repurchase program of up to $200 million of the Company’s Class A common stock (the “2024 Share Repurchase Program”).
−Removed: Under the 2024 Share Repurchase Program, the Company is authorized to repurchase shares through open market purchases, in privately negotiated transactions or by other means, in accordance with applicable federal securities laws, including through trading plans under Rule 10b5-1 of the Exchange Act.
+Added: (1) On February 25, 2025, our Board of Directors authorized a new share repurchase program of up to $300 million of our Class A common stock (the “February 2025 Share Repurchase Program”).
+Added: Under the February 2025 Share Repurchase Program, we were authorized to repurchase shares through open market purchases, in privately negotiated transactions, or by other means, in accordance with applicable federal securities laws, including through trading plans under Rule 10b5-1 of the Exchange Act.
+Added: Repurchase decisions were based on general business and market conditions, and other factors, including legal requirements.
+Added: Repurchases under the February 2025 Share Repurchase Program were completed as of December 31, 2025.
+Added: (2) On December 4, 2025, our Board of Directors authorized an additional share repurchase program of up to $100 million of the Company’s Class A common stock (the “December 2025 Share Repurchase Program”).
+Added: Under the December 2025 Share Repurchase Program, we are authorized to repurchase shares through open market purchases, in privately negotiated transactions, or by other means, in accordance with applicable federal securities laws, including through trading plans under Rule 10b5-1 of the Exchange Act.
The number of shares repurchased and the timing of purchases are based on general business and market conditions, and other factors, including legal requirements.
−Removed: The 2024 Share Repurchase Program has no set expiration date.
−Removed: Use of Proceeds
−Removed: The IPO of our Class A common stock was effected pursuant to a registration statement on Form S-1 (File No.
−Removed: 333-256154), which was declared effective by the SEC on June 8, 2021.
−Removed: There has been no material change in the planned use of proceeds from our IPO as discussed in our final prospectus filed with the SEC on June 10, 2021, pursuant to Rule 424(b) of the Securities Act.
+Added: The December 2025 Share Repurchase Program has no set expiration date.
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.