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Holders of Record
−Removed: As of December 31, 2024, there were approximately 64 stockholders of record of our Class A common stock and 13 stockholders of record of our Class B common stock.
−Removed: The ac tual number of stockholders of our Class A common stock is greater than the number of record holders and includes stockholders who are beneficial owners but whose shares of Class A common stock are held in street name by banks, brokers, and other nominees.
+Added: As of December 31, 2025, there were approximatel y 52 sto ckholders of record of our Class A common stock and 14 stockholders of record of our Class B common stock.
+Added: The actual number of stockholders of our Class A common stock is greater than the number of record holders and includes stockholders who are beneficial owners but whose shares of Class A common stock are held in street name by banks, brokers, and other nominees.
+Added: Share Repurchases
+Added: The following table summarizes the share repurchase activity for the three months ended December 31, 2025 and the approximate dollar value of shares that may yet be purchased pursuant to our stock repurchase program (in thousands, except share and per share data):
+Added: Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs (in thousands)
+Added: October 1, 2025 to October 31, 2025 101,029 $ 98.98 101,029 $ 340,000
+Added: November 1, 2025 to November 30, 2025 311,521 $ 98.22 311,521 309,402
+Added: December 1, 2025 to December 31, 2025 562,744 $ 105.53 562,744 250,018
+Added: 975,294 975,294
+Added: Our Board has approved a stock repurchase program with authorization to repurchase up to $400 million of our Class A common stock through December 31, 2026.
+Added: As of December 31, 2025, $250.0 million remained available for repurchases pursuant to our stock repurchase program.
+Added: Repurchases under the stock repurchase program may be made at our discretion from time to time in open market transactions at prevailing market prices, including through trading plans that may be adopted in accordance with Rule 10b5-1 of the Exchange Act or through other means.
+Added: The amount and timing of repurchases will depend on a variety of factors, including general market conditions, the trading price of our Class A common stock, corporate and regulatory requirements, the availability of funds, other investment opportunities, and other considerations we deem relevant.
+Added: The stock repurchase program may be modified, suspended, or terminated at any time.
Dividend Policy
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Because no published index of comparable companies is currently available, we have used the Peer Group of companies for the purposes of this graph in accordance with the requirements of the SEC.
−Removed: Our Peer Group consists of Alphabet, Inc., Fox Corp, fuboTV, Inc., Interpublic Group of Companies, Inc., LiveRamp Holdings, Inc., Magnite, Inc., Meta Platforms, Inc., Netflix, Inc., Paramount Global, Pinterest, Inc., Pubmatic, Inc., Snap, Inc., Tradedesk Financial Corp, Vizio Holding Corp, Walt Disney Co., and Warner Bros.
+Added: Our Peer Group consists of Alphabet, Inc., Fox Corp, fuboTV, Inc., Interpublic Group of Companies, Inc.
+Added: (“IPG”), LiveRamp Holdings, Inc., Magnite, Inc., Meta Platforms, Inc., Netflix, Inc., Paramount Global, Pinterest, Inc., Pubmatic, Inc., Snap, Inc., Tradedesk Financial Corp, Vizio Holding Corp, Walt Disney Co., and Warner Bros.
Discovery, Inc.
−Removed: Vizio Holding Corp was acquired in fiscal year 2024 and is included in the graph below through the last trade date.
+Added: Vizio Holding Corp was acquired in fiscal year 2024 and IPG was acquired in fiscal year 2025, and the data for these companies has been included in the graph below through the last trade date.
+Added: Netflix, Inc.
+Added: underwent a 10:1 stock split in fiscal year 2025, and the graph below has been prepared using post-split data.
Pursuant to applicable SEC rules, all values assume reinvestment of the full amount of all dividends, however no dividends have been declared on our Class A common stock or Class B common stock to date.
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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.