Note 12 – Share Repurchases

The Company’s Board of Directors previously authorized a share repurchase program of up to $250.0 million of common stock with no expiration date. Under the program, shares may be repurchased in privately negotiated and/or open market transactions as well as under formalized trading plans in accordance with the guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The repurchases completed in the first quarter of fiscal 2026 fully depleted this previous share repurchase authorization, and in November 2025, the Company's Board of Directors authorized a new share repurchase program of up to $150.0 million of the Company's outstanding common stock. The Company’s share repurchases in excess of issuances are subject to a 1% excise tax enacted by the Inflation Reduction Act.

During the three and nine months ended May 31, 2026, the Company repurchased approximately 228 thousand and 667 thousand shares, respectively, of its common stock under Board-approved share repurchase programs in open market transactions for $25.2 million and $80.7 million, respectively, inclusive of excise taxes. There were 11 thousand and 23 thousand shares repurchased during the three and nine months ended May 31, 2025 for $1.2 million and $2.7 million, respectively, inclusive of excise taxes. As of May 31, 2026, the repurchased shares were held as treasury stock and $100.0 million of the authorization remained available for future share repurchases.