Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
A “when issued” trading market for our Class A common stock began on Nasdaq on December 15, 2025. On January 5, 2026, our Class A common stock began trading on Nasdaq under the ticker symbol “VSNT.” Our Class B common stock is not listed on any stock exchange. Prior to December 15, 2025, there was no public market for our common stock.
Holders of Record
As of February 20, 2026, there were 213,654 holders of record of our Class A common stock and one holder of record of our Class B common stock. The number of beneficial owners of our Class A common stock is substantially greater than the number of record holders because many shares are held through brokers, banks and other nominees.
Holders of Class A common stock in the aggregate hold 66 2/3% of the combined voting power of our common stock. The number of votes that each share of Class A common stock has at any given time depends on the number of shares of Class A common stock and Class B common stock then outstanding, with each share of Class B common stock having 15 votes per share. The Class B common stock represents 33 1/3% of the combined voting power of our common stock, which percentage is generally non-dilutable under the terms of our articles of incorporation. Mr. Brian L. Roberts beneficially owns all outstanding shares of Class B common stock. Generally, including as to the election of directors, holders of Class A common stock and Class B common stock vote as one class except where class voting is required by law.
Dividends
We have never declared or paid any cash dividends on our common stock. Any future determination to declare cash dividends will be made at the discretion of our board of directors and will depend on a number of factors, including our operating results, financial condition, capital requirements, general business conditions, and any contractual restrictions on the payment of dividends under existing or future indebtedness.
Recent Sales of Unregistered Securities.
There were no recent sales of unregistered securities.
Issuer Purchases of Equity Securities.
The Company did not repurchase any shares of Company common stock during the three-month period ended December 31, 2025.
On March 3, 2026, the Board of Directors authorized a share repurchase program (the “2026 Share Repurchase Program”) under which the Company may purchase up to $1 billion of its outstanding shares of Class A common stock. Under the 2026 Share Repurchase Program, repurchases can be made using a variety of methods, which may include open market purchases, block trades, privately negotiated transactions, accelerated share repurchase programs and/or Rule 10b5-1 or other non-discretionary trading plans. The timing, manner, price and amount of any common share repurchases under the 2026 Share Repurchase Program are determined by the Company in its discretion and depend on a variety of factors, including legal requirements, price and economic and market conditions. The 2026 Share Repurchase Program does not obligate the Company to acquire any particular number of common shares, and the program may be suspended, extended, modified or discontinued at any time.
Stock Performance Graph
Not applicable.
Item 6. [Reserved]
[Reserved]
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