Stockholders' Equity |
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Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||
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| Stockholders' Equity | 4. Stockholders’ Equity Common Stock On August 24, 2026, the Company announced that its Board of Directors authorized a share repurchase program under which the Company may repurchase up to the lesser of $450 million in value, or 25 million shares of its Common Stock. The new authorization superseded and replaced the Company's previously existing share repurchase program. The timing and total amount of stock repurchases, if any, will depend upon market conditions and may be made from time to time in open-market purchases, through privately negotiated transactions or otherwise. This program has no termination date. The program may be modified, suspended or discontinued at any time and does not obligate the Company to acquire any amount of Common Stock. The Company’s ability to effectuate repurchases may be limited by the terms of its Credit Agreement, as further described in Note 9, Debt. Under the new program from August 24, 2026, through September 30, 2026, the Company repurchased 264,229 shares of Common Stock for an aggregate purchase price of $4.7 million, at an average cost of $17.79 per share. As of September 30, 2026, the lesser of $445.3 million or 24.7 million shares remained available under the program. The Company did not repurchase any shares under Real’s previous program during the three months ended September 30, 2026. Undesignated Preferred Stock On August 24, 2026, the Company adopted an amended and restated certificate of incorporation authorizing the Company to issue up to 100 million shares of preferred stock, par value $0.001 per share, all of which is undesignated. As of September 30, 2026, there were no shares of the Company’s preferred stock issued and outstanding. Treasury Stock Retirement Treasury stock is recorded at cost of purchase and presented as a deduction from equity. The following table shows the changes in treasury stock shares for the nine months ended September 30, 2026, and the year ended December 31, 2025 (in thousands):
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