4 unchanged sentences
We intend to retain all of our earnings to finance the development of our business, and thus, do not anticipate paying cash dividends on our common stock for the foreseeable future.
−Removed: Payment of any cash dividends in the future will be at the discretion of our Board of Directors and will depend upon, among other things, our future earnings, operations and capital requirements, our general financial condition and general business conditions.
+Added: Payment of any cash dividends in the future will be at the discretion of the Company’s Board of Directors (the “Board”) and will depend upon, among other things, our future earnings, operations and capital requirements, our general financial condition and general business conditions.
In addition, our Amended Credit Facilities and senior unsecured notes limit, among other things, our ability to pay dividends.
3 unchanged sentences
Purchases of Equity Securities
−Removed: On February 1, 2022, our Board of Directors authorized the repurchase of up to $750.0 million of our common stock from time to time on the open market or in privately negotiated transactions (the “February 2022 Authorization”).
−Removed: The repurchase authorization expires on January 31, 2025.
−Removed: On December 6, 2022, our Board of Directors authorized an additional $750.0 million program for such repurchases, which expires on December 31, 2025 (the “December 2022 Authorization”).
−Removed: The Company utilized the capacity under the February 2022 Authorization prior to effecting any repurchases under the December 2022 Authorization.
+Added: On February 1, 2022, our Board authorized the repurchase of up to $750.0 million of our common stock from time to time on the open market or in privately negotiated transactions.
+Added: The repurchase authorization expired on January 31, 2025.
+Added: On December 6, 2022, our Board authorized an additional $750.0 million program for such repurchases, which expired on December 31, 2025 (the “December 2022 Authorization”).
+Added: On October 30, 2025, the Board approved a new $750.0 million share repurchase program (the “October 2025 Authorization”), which commenced on January 1, 2026 and expires on December 31, 2028.
Stock repurchases, if any, will be funded using our available liquidity.
The timing and amount of stock repurchases, if any, will depend on a variety of factors, including but not limited to, market conditions and corporate and regulatory considerations.
−Removed: We did not repurchase any shares of our common stock during the fourth quarter of the year ended December 31, 2024.
−Removed: As of December 31, 2024, the remaining availability under our December 2022 Authorization was $749.5 million.
+Added: During the year ended December 31, 2025, the Company repurchased 20,090,831 shares of its common stock at an average price of $17.64 per share.
+Added: The following table presents the total number of shares of our common stock that we repurchased during the fourth quarter of the year ended December 31, 2025, the average price paid per share, the number of shares that we repurchased as part of our share repurchase program, and the approximate dollar value of shares that still could have been repurchased at the end of the applicable fiscal period pursuant to our share repurchase program:
+Added: (dollars in millions, except per share data) Total Number of Shares Purchased (1)
+Added: Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Program (2)
+Added: Maximum Dollar Value of Shares that May Yet Be Purchased Under the Plans or Program (2)
+Added: October 1, 2025 - October 31, 2025 4,890,581 $ 17.45 4,876,200 $ 395.4
+Added: November 1, 2025 – November 30, 2025 7,461 $ 15.98 — $ 395.4
+Added: December 1, 2025 - December 31, 2025 — $ — — $ 395.4
+Added: Total 4,898,042 $ 17.44 4,876,200
+Added: (1) Includes 14,381 and 7,461 shares withheld to pay taxes due upon the vesting of employee restricted stock for the months ended October 31, 2025 and November 30, 2025, respectively.
+Added: (2) We initiated share repurchases under the December 2022 Authorization.
+Added: Stock repurchases are funded using our available liquidity.
+Added: The timing and amount of stock repurchases will depend on a variety of factors, including market conditions as well as corporate and regulatory considerations.
Stock Performance Graph
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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.