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This performance graph shall not be deemed “soliciting material” or to be “filed” with the SEC, for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any of our filings under the Securities Act.
−Removed: The following graph compares (i) the cumulative total stockholder return on our Class A common stock from January 31, 2020 through January 31, 2025 with (ii) the cumulative total return of the Russell 2000 Index (“RUT”) and the Nasdaq Computer Index (“IXCO”) over the same period, assuming the investment of $100 in our Class A common stock and in both of the other indices on January 31, 2020 and the reinvestment of dividends.
+Added: The following graph compares (i) the cumulative total stockholder return on our Class A common stock from January 29, 2021 through January 30, 2026 with (ii) the cumulative total return of the Russell 2000 Index (“RUT”) and the Nasdaq Computer Index (“IXCO”) over the same period, assuming the investment of $100 in our Class A common stock and in both of the other indices as of January 29, 2021, with the reinvestment of dividends.
The graph uses the closing market price on January 29, 2021 of $372.07 per share as the initial value of our Class A common stock.
−Removed: As discussed above, we have never declared or paid a cash dividend on our Class A common stock and do not anticipate declaring or paying a cash dividend in the foreseeable future.
+Added: As discussed above, we have never declared or paid a cash dividend on our Class A common stock and do not currently anticipate declaring or paying a cash dividend in the foreseeable future.
Unregistered Sales of Equity Securities
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In November 2024, our Board of Directors authorized the repurchase of an additional $1.2 billion of our outstanding Class A common stock.
+Added: In November 2025, our Board of Directors authorized another $1.0 billion in repurchases of our outstanding Class A common stock.
Repurchases of our Class A common stock may be effected, from time to time, either on the open market (including pre-set trading plans), in privately negotiated transactions, and other transactions in accordance with applicable securities laws.
3 unchanged sentences
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.