9. Common Stock

As of December 31, 2025, the authorized capital of the Company included 300,000,000 shares of common stock, of which 78,126,796 shares of common stock were issued and outstanding.

In April 2025, the board of directors authorized the Company to repurchase $25,000 of common stock. During the year ended December 31, 2025, the Company repurchased 7,673,792 shares of common stock for an aggregate price of $25,519 (including transaction costs and excise taxes), utilizing all of the authorization under the share repurchase program. All repurchased shares of common stock were retired immediately upon receipt and returned to authorized and unissued status. Repurchased common stock is reflected as a reduction of stockholders’ equity. The excess of cost over par value was charged to additional paid-in capital.

On all matters to be voted upon by the holders of common stock, holders of common stock are entitled to one vote per share. The holders of common stock are entitled to receive dividends, when declared by the board, and to share ratably in the Company’s assets legally available for distribution to the holders of the Company’s common stock in the event of liquidation. The holders of common stock have no preemptive, redemption or conversion rights.