13. Repurchase of Common Stock

In November 2025, the Board of Directors authorized the Company to use up to $25.0 million to repurchase common shares of the Company, subject to repurchases being effected on or before November 30, 2028 (the “Share Repurchase Program”). Management has discretion as to whether to repurchase shares of the Company.

During the six months ended June 30, 2026, the Company repurchased 707,225 shares under the Share Repurchase Program for gross payments of approximately $5.2 million, which were canceled and retired immediately as of the trade date. As of June 30, 2026, approximately $19.4 million remained available for future repurchases under the Share Repurchase Program.

Refer to Part II, Item 2 of this report for further details regarding shares repurchased during the three months ended June 30, 2026.