11 unchanged sentences
When determining the amount of future distributions, we expect that our Board will consider, among other factors, (1) the amount required to be distributed to maintain our status as a REIT, (2) any limitations on our ability to make distributions contained in the indentures for our senior notes and credit facility, (3) the amount of cash generated from our operating activities, (4) our expectations of future cash flows, (5) our determination of near-term cash needs for debt repayments, existing or future share repurchases, and selective acquisitions of new properties, (6) the timing of significant capital investments and expenditures and the establishment of any cash reserves, (7) our ability to continue to access additional sources of capital, and (8) the sufficiency of legally available assets.
+Added: Table of Content s
Share Performance Graph
9 unchanged sentences
We did not sell any equity securities during the fiscal year ended December 31, 2025 that were not registered under the Securities Act of 1933, as amended.
+Added: Table of Content s
Purchases of Equity Securities by the Issuer and Affiliate Purchasers
−Removed: Period Total number of
+Added: Period Total number of shares
purchased (1)
12 unchanged sentences
purchased under
+Added: the plans or programs (3)
(in millions)
13 unchanged sentences
____________________________________________________________________________________
−Removed: (1) The number of shares purchased represents shares of common stock repurchased under the applicable previously announced stock repurchase program as well as 165,443 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 183,446 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.
−Removed: On February 14, 2025, the Board of Directors terminated this stock repurchase program and authorized and approved a new $300 million stock repurchase program, which expires on February 19, 2027.
+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.
Stock Repurchase Program
2 unchanged sentences
The timing of any future stock repurchases and the number of shares to be repurchased will depend upon prevailing market conditions and other factors, and we may suspend the repurchase program at any time.
−Removed: During the year ended December 31, 2024, we repurchased approximately 8.0 million shares of our common stock under the 2023 Stock Repurchase Program for a total purchase price of $116 million, and as of December 31, 2024, prior to the termination of the February 2023 Stock Repurchase program, $34 million remained available for stock repurchases.
−Removed: As of February 20, 2025, no shares of our common stock have been repurchased under the new February 2025 Stock Repurchase Program.
+Added: During the year ended December 31, 2025, we repurchased 3.5 million shares of our common stock, including 1.4 million shares under the February 2023 Stock Repurchase Program and 2.1 million shares under the February 2025 Stock Repurchase Program, for a total purchase price of $45 million.
+Added: As of December 31, 2025, $275 million remained available for stock repurchases under the February 2025 Stock Repurchase Program.
+Added: Table of Content s
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.