filings.toolsItem 1A. Risk Factors
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Item 1A. Risk Factors
There have been no material changes to the Risk Factors previously disclosed in Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2024.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
We made the following share repurchases during the three months ended September 30, 2025:
| Period | Total Number of Shares Repurchased | Average Price Paid per Share (1) | Total Number of Shares Purchased as Part of Publicly Announced Plan or Program | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plan or Program (2) | ||||||||||
| July 1, 2025 - July 31, 2025 | — | $ | — | — | $ | 450,013,695 | ||||||||
| August 1, 2025 - August 31, 2025 | 183,200 | 106.79 | 183,200 | 430,449,381 | ||||||||||
| September 1, 2025 - September 30, 2025 | 282,542 | 107.69 | 282,542 | 400,023,718 | ||||||||||
| Total | 465,742 | $ | 107.33 | 465,742 |
(1) Average Price Paid Per Share excludes cash paid for commissions.
(2) We have a share repurchase plan approved by our Board of Trust Managers in October 2022, which allows for the repurchase of up to $500.0 million of our common equity securities through open-market purchases, block purchases, and privately negotiated transactions. The repurchase plan does not specify an expiration date.
Item 3. Defaults Upon Senior Securities
None
Item 4. Mine Safety Disclosures
Not applicable.
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