2 unchanged sentences
Our common stock is traded on the New York Stock Exchange under the ticker symbol “VMI.”
−Removed: As of December 28, 2024, we had approximately 98,900 shareholders of common stock.
+Added: As of December 27, 2025, there were approximately 489 holders of record of our common stock.
+Added: A substantially greater number of holders are beneficial owners whose shares are held in street name through banks, brokers, and other nominees.
Cash dividends on our common stock are paid quarterly.
In fiscal 2025, we paid a total of $52.5 million in dividends, compared to $48.4 million in fiscal 2024.
−Removed: The Board of Directors determines whether to declare dividends, including their timing and amount, based on the Company’s financial condition and other relevant factors.
+Added: The Board of Directors determines whether to declare dividends, including their timing and amount, based on our financial condition and other relevant factors.
We currently anticipate continuing to pay dividends at levels consistent with historical distributions.
11 unchanged sentences
October 26, 2025 to November 29, 2025
−Removed: December 1, 2024 to December 28, 2024
−Removed: (1) In May 2014, we announced a capital allocation philosophy that included a share repurchase program.
−Removed: The Board of Directors initially authorized the purchase of up to $500.0 million of the Company’s outstanding common stock over a twelve-month period at prevailing market prices, either through open market or privately negotiated transactions.
−Removed: The Board expanded this authorization in February 2015 and October 2018, each time adding $250.0 million with no expiration date.
−Removed: In February 2023, the Board increased the program by an additional $400.0 million, bringing the total authorization to $1,400.0 million, with no expiration date.
−Removed: As of December 28, 2024, we have repurchased 8,235,697 shares for approximately $1,334.0 million under this program.
−Removed: Subsequent to year end, on February 18, 2025, we announced the Board of Directors increased the amount authorized under the program by an additional $700.0 million, with no stated expiration date.
+Added: November 30, 2025 to December 27, 2025
+Added: (1) In February 2025, the Board of Directors increased the authorized capacity under our share repurchase program by $700.0 million, bringing the total authorization to $2.1 billion, with no stated expiration date.
+Added: We are not obligated to make repurchases and may discontinue the program at any time.
+Added: Any purchases will be funded through available liquidity and ongoing cash flows, and will be made subject to prevailing market and economic conditions.
+Added: As of December 27, 2025, we had approximately $567.0 million of remaining capacity under the share repurchase program.
+Added: Since the program’s inception in May 2014, we have repurchased approximately 8.8 million shares for a total of $1.5 billion.
The Inflation Reduction Act of 2022, enacted on August 16, 2022, introduced a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022.
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.