Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
In January 2024, we announced a stock repurchase program (“2024 Program”) under which we could repurchase up to $175.0 million of our Class A Common Stock currently issued and outstanding. The 2024 Program terminated in January 2026, and the Company’s Board of Directors authorized a new stock repurchase program in January 2026 (“2026 Program”) under which the Company may repurchase up to $175.0 million of its Class A common stock currently issued and outstanding. The 2026 Program will be executed in accordance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and is set to terminate on January 31, 2028 (unless terminated sooner). The timing, pricing, and amount of any repurchases under the 2026 Program will be determined by the Company’s management at its discretion based on a variety of factors, including, but not limited to, trading volume and market price of the Company’s common stock, corporate considerations, the Company’s working capital and investment requirements, general market and economic conditions, and legal requirements.
Information concerning our purchases of common stock during the quarter ended June 30, 2026 is as follows:
Period Total Number of Shares Purchased (1)
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
April 1, 2026 - April 30, 2026 — $ — — $ 175,000,000
May 1, 2026 - May 31, 2026 240,085 21.30 5,114,745 $ 169,885,000
June 1, 2026 - June 30, 2026 421,997 21.64 9,130,679 $ 160,755,000
Total 662,082 $ 21.52 14,245,424
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(1) No shares of restricted stock were purchased in connection with employee tax withholding obligations under employee compensation plans, which are not purchases under any publicly announced plan.
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