3 unchanged sentences
Purchases of Equity Securities
−Removed: During the nine months ended September 30, 2024, repurchases made pursuant to our stock repurchase program were as follows:
+Added: During the three months ended March 31, 2025, repurchases made pursuant to our stock repurchase program were as follows:
Period Total number of shares purchased (1)
6 unchanged sentences
March 1, 2025 through March 31, 2025 2,085,011 $ 11.97 2,085,011 $ 275
−Removed: April 1, 2024 through April 30, 2024 106 $ 17.12 — $ 150
−Removed: May 1, 2024 through May 31, 2024 1,483 $ 15.95 — $ 150
−Removed: June 1, 2024 through June 30, 2024 1,663,340 $ 15.01 1,662,959 $ 125
−Removed: July 1, 2024 through July 31, 2024 260 $ 14.48 — $ 125
−Removed: August 1, 2024 through August 31, 2024 2,524,173 $ 13.85 2,524,001 $ 90
−Removed: September 1, 2024 through September 30, 2024 242 $ 14.44 — $ 90
Total 3,694,261 3,515,275
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−Removed: (1) The number of shares purchased represents shares of common stock repurchased under the applicable previously announced stock repurchase program as well as 165,183 shares of common stock surrendered by certain of our employees to satisfy their federal and state tax obligations associated with the vesting of restricted common stock.
+Added: (1) The number of shares purchased represents shares of common stock repurchased under the applicable previously announced stock repurchase programs as well as 178,986 shares of common stock surrendered by certain of our employees to satisfy their federal and state tax obligations associated with the vesting of restricted common stock.
(2) The weighted average price paid per share for shares of common stock surrendered by certain employees is based on the closing price of our common stock on the trading date immediately prior to the date of delivery of the shares.
The weighted average price paid per share for shares repurchased excludes commissions paid.
−Removed: (3) On February 17, 2023, our Board of Directors authorized and approved a $300 million stock repurchase program, which expires on February 21, 2025.
+Added: Table of Content s
+Added: (3) The stock repurchase program authorized on February 17, 2023, which allowed for the repurchase of up to $300 million of our common stock was terminated on February 14, 2025 upon the authorization of a new $300 million stock repurchase program, which expires on February 19, 2027.
Defaults Upon Senior Securities.
In June 2023, we ceased making debt service payments toward the SF Mortgage Loan, and we have received a notice of default from the servicer.
−Removed: As of October 30, 2024, the total arrearage related to the SF Mortgage Loan, including interest and fees was $84 million, of which $39 million is default interest.
+Added: As of May 5, 2025, the total arrearage related to the SF Mortgage Loan, including interest and fees was $116 million, of which $55 million is default interest.
In October 2023, the trustee for the SF Mortgage Loan filed a lawsuit against the borrowers under the SF Mortgage Loan.
In connection with the lawsuit, the court has appointed a receiver to take control of the Hilton San Francisco Hotels, which serve as security for the SF Mortgage Loan, and their operations, and thus, we have no further economic interest in the operations of the hotels.
−Removed: The receiver will operate and has authority over the hotels and, until no later than March 31, 2025, has the ability to sell the hotels.
−Removed: The lawsuit contemplates the receivership will end with a non-judicial foreclosure by July 15, 2025, if the hotels are not sold within the predetermined sale period.
+Added: The receiver operates and has authority over the hotels.
+Added: The receiver also had the ability to sell the hotels until March 31, 2025;
+Added: however, prior to the deadline, the receiver requested an extension to May 30, 2025 in order to sell the hotels to a specified buyer.
+Added: The court granted the extension with an additional one-time extension option not to exceed 60 days.
+Added: If the hotels are not sold to the specified buyer by the amended predetermined period, the court order contemplates that the receivership will end with a non-judicial foreclosure as soon as permissible under California law.
Mine Safety Disclosures.
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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.