Stockholders Equity |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Stockholders' Equity Note [Abstract] | |
| Stockholders Equity | 8. STOCKHOLDERS EQUITY Class A Common Stock As of June 30, 2026, there were 87,867,240 shares of Class A common stock issued, 13,788,651 shares of treasury stock, and 74,078,589 shares outstanding. As of December 31, 2025, there were 84,935,154 shares of Class A common stock issued, 11,514,247 shares of treasury stock, and 73,420,907 shares outstanding. The changes in Class A common stock since the IPO are due primarily to follow-on offering transactions, exchanges of Class A partnership units, the exercise of stock options and vesting of restricted stock units issued in connection with the Company’s annual compensation process and ongoing hiring.
Class B Common Stock The economic rights of Class B common stock are based on the ratio of the Class B subscription price to the initial public offering price of shares of Class A common stock (.00055 to 1). Shares of Class B common stock are generally not transferable and, if transferred other than in the limited circumstances set forth in Moelis & Company’s Amended and Restated Certificate of Incorporation, such shares shall automatically convert into a number of shares of Class A common stock, or dollar equivalent. Each share of Class B common stock may also be converted to a number of Class A shares at the option of the holder. Holders of shares of Class B common stock are entitled to receive dividends of the same type as any dividends payable on outstanding shares of Class A common stock at a ratio of .00055 to 1.
As of June 30, 2026, and December 31, 2025, 4,190,479 and 4,191,326 shares of Class B common stock were issued and outstanding, respectively, due primarily to the IPO and offering transactions, and Class B conversions described above. Treasury Stock During the six months ended June 30, 2026 and 2025, the Company repurchased 2,274,404 and 186,889 shares, respectively, pursuant to the Company's repurchase program and from its employees for the purpose of settling tax liabilities incurred upon the delivery of equity-based compensation awards. The result of the repurchases was an increase of $140,771 and $13,270, respectively, in the treasury stock balance on the Company’s condensed consolidated statements of changes in equity as of June 30, 2026 and 2025. Share Repurchase Plan In February 2026, the Board of Directors authorized the repurchase of up to $300,000 of Class A common stock and/or Class A partnership units of Group LP with no expiration date. Under this share repurchase program, shares may be repurchased from time to time in open market transactions, in privately negotiated transactions or otherwise. The timing and the actual number of shares repurchased will be opportunistic and measured in nature and will depend on a variety of factors, including price and market conditions. The dollar value of shares that may yet be purchased under the program was $226,235 as of June 30, 2026. Noncontrolling Interests A Group LP Class A partnership unit (not held by Moelis & Company or its subsidiaries) is exchangeable into one share of Moelis & Company Class A common stock and represents the Company’s noncontrolling interests (non-redeemable). As of June 30, 2026 and December 31, 2025, partners held 7,042,844 and 6,396,846 Group LP partnership units, respectively, representing a 9% and 8% noncontrolling interest in Moelis & Company, respectively.
Controlling Interests Moelis & Company operates and controls all of the business and affairs of Group LP and its operating entity subsidiaries indirectly through its equity interest in Group GP, and thus the 74,078,589 shares of Class A common stock outstanding as of June 30, 2026 (73,420,907 as of December 31, 2025), represent the controlling interest. |