Item 5. Other Information.

(a) On October 28, 2025, the Board of Directors approved a plan to exit two owned office buildings in Owings Mills, Maryland. This decision is expected to result in a non-cash charge of up to $100 million in the fourth quarter of 2025, primarily reflecting the carrying value of the buildings. This decision was made in connection with the firm's broad and ongoing plan to reduce expense growth and realign resources to invest in existing and future capabilities.