Item 1A. , “Risk Factors,” of our Annual Report on Form 10-K for the year ended December 31, 2025 includes a detailed discussion of our risk factors.

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Item 1A. , “Risk Factors,” of our Annual Report on Form 10-K for the year ended December 31, 2025 includes a detailed discussion of our risk factors.

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Issuer Purchases of Equity Securities

Stock Repurchase Program

The following table provides information regarding repurchases of our Class A common stock from January 1, 2026 through March 31, 2026:


							Total Number of		Maximum Approximate
		Total					Shares Purchased		Dollar Value of Shares
		Number of		Average			as Part of Publicly		that May Yet be
		Shares		Price Paid			Announced		Purchased Under the
Period		Purchased		per Share			Programs		Programs (1)

		(In thousands, except share data)
January 1, 2026 - January 31, 2026		—		$	—		—		$	951,488
February 1, 2026 - February 25, 2026		—		$	—		—		$	951,488
February 26, 2026 - February 28, 2026		—		$	—		—		$	2,000,000
March 1, 2026 - March 31, 2026		—		$	—		—		$	2,000,000
Total		—		$	—		—		$	2,000,000

(1)

Our Board of Directors previously authorized stock repurchases of up to $1.0 billion of our outstanding Class A common stock through and including December 31, 2026. On February 26, 2026, our Board of Directors extended the plan such that we are currently authorized to repurchase up to $2.0 billion of our outstanding shares of our Class A common stock through and including December 31, 2026. Purchases under our repurchase program may be made through open market purchases, privately negotiated transactions, or Rule 10b5-1 trading plans, subject to market conditions and other factors. We may elect not to purchase the maximum amount of shares allowable under this program and we may also enter into additional share repurchase programs authorized by our Board of Directors.

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