1 unchanged sentence
Stock Repurchases
−Removed: The following table summarizes the repurchases of Class A common stock during the second quarter of 2025 by the Company or any “affiliated purchaser” of the Company, as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934.
+Added: The following table summarizes the repurchases of Class A common stock during the third quarter of 2025 by the Company or any “affiliated purchaser” of the Company, as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934.
Certain share repurchases included in the table below were made pursuant to a trading plan adopted by the Company in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934.
Period Total number of shares purchased (a) Average price paid per share (b) Total number of shares purchased as part of publicly announced plans or programs (c) Maximum number of shares that may yet be purchased under the plans or programs (c)
−Removed: April 1 - April 30, 2025 122 $ 102.78 — 3,341,735
−Removed: May 1 - May 31, 2025 52,395 117.00 52,156 4,947,844
−Removed: June 1 - June 30, 2025 131,037 115.51 125,653 4,822,191
+Added: July 1 - July 31, 2025 26,265 $ 119.71 26,265 4,795,926
+Added: August 1 - August 31, 2025 47,908 120.38 47,908 4,748,018
+Added: September 1 - September 30, 2025 143,677 126.09 137,443 4,610,575
Total 217,850 $ 124.07 211,616
2 unchanged sentences
and (ii) shares owned and tendered by employees to satisfy tax withholding obligations upon the vesting of restricted shares.
−Removed: Shares of Class A common stock tendered by employees to satisfy tax withholding obligations included 122, 239, and 5,384 in April, May and June 2025, respectively.
−Removed: Unless otherwise indicated, shares owned and tendered by employees to satisfy tax withholding obligations were purchased at the closing price of the Company’s shares on the date of vesting.
+Added: Shares purchased pursuant to the applicable stock repurchase program discussed in footnote (c) below during August included a total of 41,929 shares of Class A common stock purchased from a certain significant shareholder in a privately negotiated transaction on August 25, 2025.
+Added: Shares of Class A common stock tendered by employees to satisfy tax withholding obligations included 6,234 shares in September 2025.
+Added: Unless otherwise indicated, shares
+Added: owned and tendered by employees to satisfy tax withholding obligations were purchased at the closing price of the Company’s shares on the date of vesting.
(b) The average price of shares repurchased excludes excise taxes.
−Removed: (c) On May 9, 2022, the Company announced that its Board of Directors authorized a stock repurchase program to repurchase up to a total of five million shares of the Company's Class A common stock during the three-year period ended May 8, 2025.
−Removed: That program expired on May 8, 2025.
−Removed: On May 8, 2025, the Company announced that its Board of Directors authorized a stock repurchase program to repurchase up to a total of five million shares of the Company's Class A common stock during the three-year period ending May 8, 2028.
−Removed: The five million shares authorized under the new program include the remaining unpurchased shares from the prior program, which the new program replaces.
−Removed: As of June 30, 2025, 4,822,191 remained authorized for repurchase under the Company's new program.
+Added: (c) On May 8, 2025, the Company announced that its Board of Directors authorized a stock repurchase program to repurchase up to a total of five million shares of the Company's Class A common stock during the three-year period ending May 8, 2028.
+Added: The five million shares authorized under the new program include the remaining unpurchased shares from the prior program, which the new program replaced.
+Added: As of September 30, 2025, 4,610,575 shares remained authorized for repurchase under the Company's stock repurchase program.
Working capital and dividend restrictions/limitations
4 unchanged sentences
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.