3 unchanged sentences
Purchases of Equity Securities
−Removed: During the three months ended March 31, 2025, repurchases made pursuant to our stock repurchase program were as follows:
+Added: During the six months ended June 30, 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
+Added: April 1, 2025 through April 30, 2025 106 $ 9.36 — $ 275
+Added: May 1, 2025 through May 31, 2025 103 $ 10.26 — $ 275
+Added: June 1, 2025 through June 30, 2025 431 $ 10.13 — $ 275
Total 3,694,901 3,515,275
1 unchanged sentence
(1) The number of shares purchased represents shares of common stock repurchased under the applicable previously announced stock repurchase programs as well as 179,626 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: Table of Content s
(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: Table of Content s
(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.
1 unchanged sentence
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 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.
+Added: As of August 1, 2025, the total arrearage related to the SF Mortgage Loan, including interest and fees was $132 million, of which $64 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.
2 unchanged sentences
The receiver also had the ability to sell the hotels until March 31, 2025;
−Removed: however, prior to the deadline, the receiver requested an extension to May 30, 2025 in order to sell the hotels to a specified buyer.
−Removed: The court granted the extension with an additional one-time extension option not to exceed 60 days.
−Removed: 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.
+Added: however, the deadline was extended and in July 2025, a purchase and sale agreement to consummate the sale of the hotels has been executed with a closing expected by October 29, 2025.
+Added: If the hotels are not sold to the buyer by October 29, 2025, the receivership will end with a non-judicial foreclosure as soon as permissible under California law.
Mine Safety Disclosures.
1 unchanged sentence
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.