On June 1, 2026, the Company reduced its global headcount by approximately 6%, leveraging increased operational efficiencies and allowing the Company to focus investments on key strategic priorities. The Company recorded restructuring expense of approximately $8.3 million pretax ($6.2 million after-tax or $0.10 per fully diluted share) in the six months ended June 30, 2026. The expense primarily consists of employee severance and outplacement services. The expense is classified in “Restructuring expense” in the Company’s Consolidated Statements of Income for the six months ended June 30, 2026.

The following table summarizes the activity in the restructuring accrual for the six months ended June 30, 2026 (in thousands):


	Americas			EMEA			APAC			Consolidated
	(in thousands)
Restructuring expense		5,637			2,346			280		$	8,263
Cash payments		(3,315	)		(689	)		(222	)		(4,226	)
Restructuring accrual balance at June 30, 2026	$	2,322		$	1,657		$	58		$	4,037

The balance at June 30, 2026 is included in “Accrued compensation and benefits” in the Company’s Condensed Consolidated Balance Sheets. The remaining balance is expected to be paid during the remainder of 2026.