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Stockholders’ Equity | 6 Months Ended
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Jun. 30, 2026
Equity [Abstract] |
Stockholders’ Equity | Stockholders’ Equity Stock Repurchases In November 2025, the Board authorized a new stock repurchase program, replacing the prior program, pursuant to which the Company is authorized to repurchase up to $1 billion of shares of its Class A common stock through December 31, 2026 (the “November 2025 Program”). Repurchases under the November 2025 Program may be made in the open market, in privately negotiated transactions or otherwise, with the amount and timing of repurchases depending on market conditions and corporate needs. Open market repurchases will be structured to occur within the pricing and volume requirements of Rule 10b-18. The Company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its shares pursuant to the November 2025 Program. The November 2025 Program does not obligate the Company to acquire any particular amount of common stock. The November 2025 Program may be extended, modified, suspended or discontinued at any time at the Company’s discretion. During the six months ended June 30, 2026, the Company repurchased 6,137,541 shares of Class A common stock for $320 million, including commissions, at an average price of $52.17 per share. As of June 30, 2026, $375 million remained available for stock repurchases under the November 2025 Program. Preferred Stock The Company’s 6.00% Series A Mandatory Convertible Preferred Stock, par value $0.0001 per share (“Preferred Stock”) is listed on the New York Stock Exchange under the ticker “FOUR.PRA” and ranks senior to all classes of the Company’s common stock with respect to dividend payments and distributions upon liquidation, dissolution, or winding up of the Company. In February 2026, pursuant to the Transaction Agreement, the Company issued 423,296 shares of its Preferred Stock to the Founder in a private placement. As of June 30, 2026, 10,423,296 shares of Preferred Stock were issued and outstanding. Dividends The Preferred Stock accrues cumulative dividends at an annual rate of 6.00% of the liquidation preference. Dividends are payable, when and if declared by the Board and out of legally available funds, quarterly in arrears on February 1, May 1, August 1, and November 1 of each year, beginning on August 1, 2025 and ending on May 1, 2028. Dividends may be paid in cash, shares of Class A Common Stock (subject to a floor price and other adjustments), or a combination thereof, at the Company’s election. During the three months ended June 30, 2026, the Company accrued and pa id $16 million of cash dividends on its Preferred Stock. As of June 30, 2026, accrued but unpaid dividends on the Preferred Stock amounted to $10 million and are reflected within “Accrued expenses and other current liabilities” in the unaudited Condensed Consolidated Balance Sheets.

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- Definition The entire disclosure for the formation, structure, control and ownership of a limited liability company (LLC). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 272 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482987/272-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 272 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/272/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 272 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482987/272-10-50-3 + Details
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