2 unchanged sentences
As of March 3, 2025, there were 5,567 shareholders of record of our Common Stock.
−Removed: We have not made any dividend payments to our common shareholders since our inception as all available cash has been utilized for the business.
−Removed: We have no intention of paying dividends on our common stock in the foreseeable future.
−Removed: In addition, certain of our debt facilities contain negative covenants which, in certain situations, prohibit us from paying any dividends or making distributions of any kind with respect to our common stock.
−Removed: The Company’s Series A-1 Preferred Stock accrued quarterly dividends at the rate per annum of 6.5% per share through October 15, 2023 and accrue quarterly dividends at the rate per annum of 8.5% per share thereafter.
−Removed: The Company’s Series A-2 Preferred Stock accrue quarterly dividends at the rate per annum of 6.5% per share.
−Removed: The Series A-1 and Series A-2 Preferred Stock have a $20.00 liquidation preference per share.
+Added: We paid $10.7 million in dividends to our common shareholders during the year ended December 31, 2024.
+Added: The declaration and amount of any future cash dividends will be subject to the sole discretion of the Board of Directors and will depend upon many factors, including our business, financial condition and results of operations and other factors deemed relevant by our Board of Directors from time to time.
+Added: In September 2024, the Company entered into a Series A Preferred Stock Purchase Agreement with DBJ, which refinanced the Company’s Series A-1 and Series A-2 Preferred Stock into one $65.0 million Series A Preferred Stock series (the “Series A Preferred Stock”), which accrues quarterly dividends at the rate per annum of 8.35% per share.
+Added: The Company’s Series A-1 Preferred Stock accrued quarterly dividends at the rate per annum of 6.5% per share through October 15, 2023 and accrued at the rate per annum of 8.5% per share thereafter through September 26, 2024.
+Added: The Series A-2 Preferred Stock accrued quarterly dividends at the rate per annum of 6.5% per share.
+Added: The Series A Preferred Stock has a redemption price of $20.00 per share plus dividends accrued but not paid.
The following table outlines our Equity Compensation Plan Information:
21 unchanged sentences
For any vesting tranche of an award, the cumulative amount of compensation cost recognized is equal to the portion of the grant-date fair value of the award tranche that is actually vested at that date.
−Removed: As of December 31, 2023, the Company had granted 1,591,800 RSAs under the 2023 Plan and has 2,052,796 shares available for future issuance.
+Added: As of December 31, 2024, the Company had granted 2,052,254 RSAs under the 2023 Plan and prior plans and has 1,592,342 shares available for future issuance.
The fair value of the restricted stock awards equaled the stock price at the grant date.
−Removed: In October 2022, the Board of Directors approved the renewal of the existing common stock repurchase plan which allows for repurchases of up to $60.0 million of the Company’s common stock, extending the plan through December 31, 2024.
+Added: In December 2024, the Board of Directors approved the renewal of the existing common stock repurchase plan which allows for repurchases of up to $60.0 million of the Company’s common stock, extending the plan through December 31, 2026.
Repurchased shares are immediately retired.
−Removed: During 2023, no shares were repurchased.
−Removed: During 2022, the Company repurchased 154,215 shares of common stock for approximately $5.2 million under the plan, at a weighted average price of $33.98 per share.
+Added: During 2024 and 2023, no shares were repurchased.
At December 31, 2024, approximately $39.6 million was available to purchase shares under the plan.
−Removed: As of December 31, 2023, the total number of common shares issued was approximately 6.8 million.
−Removed: SELECTED FINANCIAL DATA
−Removed: Not applicable.
+Added: As of December 31, 2024, the total number of shares of common stock issued was approximately 7.2 million.
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.