VALMONT INDUSTRIES INC 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information Our common stock is traded on the New York Stock Exchange under the ticker symbol “VMI.” Holders As of December 27, 2025, there were approximately 489 holders of record of our common stock. A substantially greater number of holders are beneficial owners whose shares are held in street name through banks, brokers, and other nominees. Dividends 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. 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. Purchases of Equity Securities By the Issuer and Affiliated Purchasers ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total number of ​ Approximate dollar ​ ​ ​ ​ ​ ​ ​ shares purchased ​ value of shares that ​ ​ Total number ​ Average ​ as part of publicly ​ may yet be purchased ​ ​ of shares ​ price paid ​ announced plans ​ under the plans Period ​ ​ ​ purchased ​ ​ ​ per share ​ ​ ​ or programs ​ ​ ​ or programs (1) September 28, 2025 to October 25, 2025 61,755 ​ $ 399.87 61,755 ​ $ 615,505,000 October 26, 2025 to November 29, 2025 70,774 ​ ​ 404.65 70,774 ​ ​ 586,865,000 November 30, 2025 to December 27, 2025 48,070 ​ ​ 414.18 48,070 ​ 566,955,000 Total 180,599 ​ $ 405.55 180,599 ​ $ 566,955,000 (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. We are not obligated to make repurchases and may discontinue the program at any time. Any purchases will be funded through available liquidity and ongoing cash flows, and will be made subject to prevailing market and economic conditions. As of December 27, 2025, we had approximately $567.0 million of remaining capacity under the share repurchase program. 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. As of December 27, 2025 and December 28, 2024, the excise tax accrued totaled $1.7 million and $0.6 million, respectively. ​ 21 Table of Contents ITEM 6. [RESERVED]