v3.26.1
Related Party Transactions
12 Months Ended
Dec. 31, 2025
EBP 009  
EBP, Related Party and Party-in-Interest Transactions [Line Items]  
Related Party Transactions

Note 7 Related Party Transactions

The Plan holds the Company’s common stock. The Company is the employer and Plan Administrator. Transactions in the Company’s common stock are party-in-interest transactions. Charles Schwab is the trustee and recordkeeper as defined by the Plan and Captrust is the Plan's investment advisor; therefore, these transactions qualify as party-in-interest transactions. The Plan paid recordkeeping fees of $98,592 and investment advisory fees of $62,571 in 2025.

 

The Plan earned dividends in 2025 of $365,658 on the Company stock. In 2025, the Plan purchased Company shares for $1,952,110. The Plan received proceeds from the participant directed sale of Company shares of $6,977,133 and realized a gain of $5,389,920 on these sales.

 

Certain Plan investments are units of mutual funds managed by the Plan’s Trustee. These investments, the Company’s common stock, and notes receivable from participants are party-in-interest transactions. The Plan Trustee charged $6,525 in participant loan fees in 2025.

 

At December 31, the Plan's investment in the Stock Fund, which consists of the Company's common stock and short-term cash equivalents, was as follows:

 

 

2025

 

 

Shares

 

 

Cost

 

 

Fair Value

 

 

Per Share

 

Company's common stock

 

237,918

 

 

$

4,191,069

 

 

$

41,495,278

 

 

$

174.41

 

Cash equivalents

 

 

 

 

 

 

$

147,423

 

 

 

 

Total

 

 

 

 

 

 

$

41,642,701

 

 

 

 

 

 

2024

 

 

Shares

 

 

Cost

 

 

Fair Value

 

 

Per Share

 

Company's common stock

 

259,354

 

 

$

4,023,561

 

 

$

55,014,170

 

 

$

212.12

 

Cash equivalents

 

 

 

 

 

 

 

821,831

 

 

 

 

Total

 

 

 

 

 

 

$

55,836,001