| Schedule of Partner Units Activity |
An update on the number of shares of common stock follows for the period from December 31, 2025 to March 31, 2026: | | | | | | | | | | | Shares of Common Stock | | Shares, December 31, 2025 | | 12,262,320 | | | Shares issued for SMC LTIP, net | | 200,615 | | | Related party shares issued for cash | | 1,351,351 | | | Shares, March 31, 2026 | | 13,814,286 | |
An update on the number of Partnership Common Units for the period from December 31, 2025 to March 31, 2026 follow: | | | | | | | | | | | | | | | | | | | Partnership Common Units owned by Tall Oak Parent | | Partnership Common Units Owned by the Company | | Total Partnership Common Units | | Units, December 31, 2025 | 6,524,467 | | | 12,262,320 | | | 18,786,787 | | | Units issued for SMC LTIP, net | — | | | 200,615 | | | 200,615 | | | Related party units issued for cash | — | | | 1,351,351 | | | 1,351,351 | | | Units, March 31, 2026 | 6,524,467 | | | 13,814,286 | | | 20,338,753 | |
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| Schedule of Stock by Class |
An update on the number of shares of Class B Common Stock follows for the period from December 31, 2025 to March 31, 2026. | | | | | | | Shares of Class B Common Stock | | Shares, December 31, 2025 | 6,524,467 | | | 2026 activity | — | | | Shares, March 31, 2026 | 6,524,467 | |
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| Schedule of Change in Subsidiary |
The following table shows the change in the Company’s Subsidiary Series A Preferred Unit balance from December 31, 2025 to March 31, 2026, net of $0.6 million of unamortized issuance costs as of December 31, 2025: | | | | | | | (In thousands) | | Balance, December 31, 2025 | $ | 141,296 | | | Redemption accretion, net of issuance cost amortization | 1,930 | | | Cash distribution and redemption | (143,226) | | | Balance, March 31, 2026 | $ | — | |
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| Schedule of Noncontrolling Interest |
The following table shows the changes in noncontrolling interest during the periods presented: | | | | | | | | | | | Noncontrolling Interest | | | (In thousands) | | Balance, December 31, 2025 | | $ | 400,376 | | | Net loss | | (2,914) | | | Equity shift | | (78,286) | | | Balance as of March 31, 2026 | | $ | 319,176 | |
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