v3.26.1
EQUITY AND MEZZANINE EQUITY (Tables)
3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
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, 202512,262,320 
Shares issued for SMC LTIP, net200,615 
Related party shares issued for cash1,351,351 
Shares, March 31, 202613,814,286 
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 ParentPartnership Common Units Owned by the CompanyTotal Partnership Common Units
Units, December 31, 20256,524,467 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, 20266,524,467 13,814,286 20,338,753 
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, 20256,524,467 
2026 activity— 
Shares, March 31, 20266,524,467 
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$141,296 
Redemption accretion, net of issuance cost amortization1,930 
Cash distribution and redemption(143,226)
Balance, March 31, 2026$— 
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