Item 1A. Risk Factors

There have been no material changes in the Company's risk factors from those disclosed under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025.


Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Issuer Purchases of Equity Securities

On February 12, 2025, the Board of Directors approved and announced a stock repurchase program (the “2025 Program”) that authorizes the repurchase of up to $500.0 million of common stock and expires in February 2028. In the second quarter of 2026 the Company repurchased $29.3 million of shares. At June 30, 2026, our remaining share repurchase authorization was $298.2 million. Subject to numerous factors, including market conditions and alternative uses of cash, we may conduct discretionary repurchases through open market or privately negotiated transactions, which may include repurchases under plans complying with Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended.

The following table summarizes the Company's repurchase activity of common stock under the repurchase programs during the quarter ended June 30, 2026.


Period	Total Number of Shares of Common Stock Purchased (000s)(1)	Average Price Paid Per Share of Common Stock(1)		Approximate Value of Shares that May Yet be Purchased Under the Plans (in millions)		Total number of shares purchased as part of publicly announced plans (000s)
April 1, 2026 - April 30, 2026	50	$	502.42	$	303.2	48
May 1, 2026 - May 31, 2026	10	$	512.58	$	298.2	10
June 1, 2026 - June 30, 2026	—	$	—	$	298.2	—
TOTAL FOR THE QUARTER ENDED June 30, 2026	60	$	504.07	$	298.2	58

(1) The total number of share repurchases includes the surrender of the Company’s common shares in connection with the vesting of restricted stock awards.

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