v3.26.1
Redeemable Convertible Preferred Stock and Stockholders’ Equity
6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Redeemable Convertible Preferred Stock and Stockholders’ Equity Stockholders’ Equity
Common Stock
As of June 30, 2026, the Company’s Twelfth Amended and Restated Certificate of Incorporation authorizes the issuance of up to 1,050,000 shares of common stock, par value of $0.0001 per share, of which 750,000 shares are designated Class A common stock, 150,000 shares are designated Class B common stock, and 150,000 shares are designated Class C common stock. Class A common stock receives one vote per share, Class B common stock receives ten votes per share, and Class C common stock has no voting rights except as required by Delaware law. Common stock is not redeemable at the option of the holder.
As of June 30, 2026, outstanding shares of common stock as well as shares of common stock attributable to equity awards are as follows:
Class AClass BClass C
Common stock outstanding107,606 15,700 — 
Stock options outstanding214 1,222 — 
Restricted stock units (“RSUs”) outstanding2,668 755 — 
Performance stock units (“PSUs”) outstanding545 4,398 — 
Employee stock plans – available41,385 — — 
Shares of Class A common stock issuable upon conversion of all outstanding Class B common stock, stock options, RSUs, and PSUs22,075 — — 
Total common stock – outstanding or issuable174,493 22,075 — 
Shares authorized
750,000 150,000 150,000 
Common stock authorized and available for future issuance
575,507 127,925 150,000 
Preferred Stock
As of June 30, 2026, 50,000 preferred shares were authorized and no shares were outstanding.
Share Repurchase Program
In February 2026, the Company’s Board of Directors authorized a share repurchase program to purchase up to $100.0 million of the Company’s Class A common stock (the “Share Repurchase Program”). Repurchases under the Share Repurchase Program may be made in the open market, in privately negotiated transactions, or otherwise, with the amount and timing of repurchases to be determined at the Company’s discretion, depending on market conditions and corporate needs. Open market repurchases will be structured to occur in accordance with applicable federal securities laws, including within the pricing and volume requirements of
Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The Company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its shares under this authorization. The Share Repurchase Program does not have a fixed expiration date, does not obligate the Company to acquire any particular amount of Class A common stock, and may be modified, suspended, or terminated at any time at the discretion of the Company’s Board of Directors. During the three and six months ended June 30, 2026, the Company did not purchase any shares under the Share Repurchase Program.