v3.26.1
EQUITY AND MEZZANINE EQUITY (Tables)
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of Partner Units Activity An update on the number of shares of outstanding common stock follows for the period from December 31, 2025 to June 30, 2026:
Shares of Common Stock
Shares, December 31, 202512,262,320 
Shares issued for SMC LTIP, net203,913 
Related party shares issued for cash1,351,351 
Repurchase of shares under Share Repurchase Program(34,624)
Shares, June 30, 202613,782,960 
An update on the number of Partnership Common Units for the period from December 31, 2025 to June 30, 2026 follows:
Partnership Common Units owned by Tall Oak ParentPartnership Common Units Owned by the CompanyTotal Partnership Common Units
Units, December 31, 20256,524,467 12,262,320 18,786,787 
Units issued for SMC LTIP, net— 203,913 203,913 
Related party units issued for cash— 1,351,351 1,351,351 
Redemption of units under Share Repurchase Program— (34,624)(34,624)
Units, June 30, 20266,524,467 13,782,960 20,307,427 
Schedule of Stock by Class
An update on the number of shares of Class B Common Stock follows for the period from December 31, 2025 to June 30, 2026.
Shares of
Class B Common Stock
Shares, December 31, 20256,524,467 
2026 activity— 
Shares, June 30, 20266,524,467 
Schedule of Change in Subsidiary The following table shows the change in the Company’s Subsidiary Series A Preferred Unit balance from December 31, 2025 to June 30, 2026, net of $0.6 million of unamortized issuance costs as of December 31, 2025:
(In thousands)
Balance, December 31, 2025$141,296 
Redemption accretion, net of issuance cost amortization1,930 
Cash distribution and redemption(143,226)
Balance, June 30, 2026$— 
Schedule of Noncontrolling Interest
The following table shows the changes in noncontrolling interest during the periods presented:
Noncontrolling
Interest
(In thousands)
Balance, December 31, 2025$400,376 
Net loss(1,821)
Equity shift(78,064)
Balance as of June 30, 2026$320,491