SHARE REPURCHASE PROGRAM |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Equity [Abstract] | |
| SHARE REPURCHASE PROGRAM | SHARE REPURCHASE PROGRAM On August 8, 2024, the Board authorized a share repurchase program for up to $50.0 million of the Company’s outstanding Class A common stock, with no expiration date. Repurchases under the share repurchase program may be made from time to time through, without limitation, open market purchases or through privately negotiated transactions and/or structured repurchase agreements with third parties, block purchases or derivative contracts, and/or pursuant to Rule 10b5-1 trading plans, subject to market conditions, applicable securities laws and other legal requirements and relevant factors. Open market repurchases have been and will be structured to occur in accordance with applicable federal securities law, including within the pricing and volume requirements of Rule 10b-18 under the Exchange Act. The share repurchase program 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, without prior notice. The timing, manner, price and amount of any repurchases have been and will be determined at the Company’s discretion, subject to business, economic and market conditions and other factors. Repurchases under the program have been and are expected to be funded from existing cash and cash equivalents. All repurchased shares under the share repurchase program have been and will be retired. On February 27, 2025, the Board authorized an increase of $50.0 million to the share repurchase program, bringing the total authorization for repurchases under the program as of that date to up to $100.0 million of the Company’s outstanding Class A common stock. During the three months ended June 30, 2026, share repurchases totaled 2,009,381 shares of Class A common stock for approximately $24.0 million, which were retired. During the six months ended June 30, 2026, share repurchases totaled 2,580,973 shares of Class A common stock for approximately $32.8 million, which were retired. As of June 30, 2026, the Company had approximately $19.2 million available for future repurchases of its Class A common stock under the share repurchase program. On August 6, 2026, the Board authorized an additional increase of $100.0 million to the share repurchase program, bringing the total authorization for repurchases under the program to up to $200.0 million of the Company’s outstanding Class A common stock. Following the authorization of the increase, as of the date hereof, the Company has approximately $119.2 million available for future repurchases under the share repurchase program.
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