Note 4 — Treasury Stock

The Board initially approved the commencement of a stock repurchase program in 1996 (the “stock repurchase program”). In 2022, the Board authorized the repurchase of additional shares under the stock repurchase program, thereby increasing the total number of shares of common stock approved for repurchase under the program to 117,000,000. The stock repurchase program does not obligate the Company to acquire any amount of its common stock and may be suspended or discontinued at any time at its discretion.

Since the commencement of the stock repurchase program, the Company has used approximately $910 million to repurchase 115,636,533 shares of its common stock, which equals approximately 70% of the shares of common stock that would have been outstanding had there been no repurchases. The average price at which shares have been repurchased under the program is $7.87 per share. These repurchases were funded primarily by the net income of the Company, along with proceeds from the exercise of stock options.

During the three months ended June 30, 2026, the Company repurchased 377,098 shares of its common stock for approximately $21.8 million, excluding tax, at an average price of $57.77 per share. The Company had 50,596,284 shares of common stock outstanding as of June 30, 2026, net of the 115,636,533 shares of common stock held in treasury.

During the period subsequent to the quarter ended June 30, 2026, the Company repurchased 96,110 shares of its common stock for $5.9 million at an average price of $61.62 per share.