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Stockholders' Equity | 12 Months Ended
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Dec. 31, 2025
Stockholders' Equity |
Stockholders' Equity | 17. Stockholders’ Equity NGCS Acquisition On May 1, 2025, we completed the NGCS Acquisition and issued approximately 2.3 million shares of common stock to NGCSE sellers as part of the acquisition purchase price. The NGCS acquisition date fair value was $53.0 million and is reflected in common stock and additional paid-in capital in our consolidated statements of equity. See Note 4 (“Business Transactions”) for further details. TOPS Acquisition In August 2024, we completed the TOPS Acquisition and issued approximately 6.9 million shares of common stock to the sellers as part of the acquisition purchase price. The TOPS acquisition date fair value was $139.1 million and is reflected in common stock and additional paid-in capital in our consolidated statements of equity. See Note 4 (“Business Transactions”) for further details. July 2024 Equity Offering In July 2024, Archrock sold, pursuant to a public underwriting offering, approximately 12.7 million shares of common stock, including approximately 1.7 million shares of common stock pursuant to an over-allotment option. Archrock received net proceeds of $255.7 million, after deducting underwriting discounts, commissions and offering expenses. Proceeds from this equity offering were used to fund a portion of the TOPS Acquisition. Share Repurchases ​ Share Repurchase Program ​ Our Board of Directors authorized the Share Repurchase Program in April 2023 that allowed us to repurchase and retire up to $50.0 million of outstanding common stock. Between April 2024 and October 2025, extensions of the Share Repurchase Program were approved by our Board of Directors authorizing an additional $200.0 million, or a total of $250.0 million, to repurchase and retire outstanding common stock through December 31, 2026. As of December 31, 2025, available capacity under the Share Repurchase Program was $117.7 million. Under the Share Repurchase Program, shares of our common stock may be repurchased periodically, including in the open market, privately negotiated transactions, or otherwise in accordance with applicable federal securities laws, at any time. Through December 31, 2025, we repurchased 4,461,311 common shares at an average price of $20.72 per share for an aggregate of $92.4 million and retired 3,813,831 common shares at an average price of $20.09 per share for an aggregate of $76.6 million under the Share Repurchase Program. On January 9, 2026, we retired 647,480 common shares at an average price of $24.44 per share for an aggregate of $15.8 million for shares repurchased during the fourth quarter 2025. Shares Withheld to Cover ​ The 2020 Plan allows us to withhold shares upon vesting of restricted stock at the then-current market price to cover taxes required to be withheld on the vesting date. The following table summarizes shares repurchased and shares withheld: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Year Ended December 31, 2025
(dollars in thousands, except per share amounts) | ​ | ​ | Total Number of Shares | ​ | Average Price per Share | ​ | Total Cost of Shares
Shares repurchased under the Share Repurchase Program | ​ | ​ | ​ | 2,978,111 | ​ | $ | 23.59 | ​ | $ | 70,239
Shares withheld related to net settlement of equity awards | ​ | ​ | ​ | 505,577 | ​ | ​ | 29.68 | ​ | ​ | 15,004
Total | ​ | ​ | ​ | 3,483,688 | ​ | $ | 24.47 | ​ | $ | 85,243
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | ​ | Year Ended December 31, 2024
(dollars in thousands, except per share amounts) | ​ | ​ | Total Number of Shares | ​ | Average Price per Share | ​ | Total Cost of Shares
Shares repurchased under the Share Repurchase Program | ​ | ​ | ​ | 732,826 | ​ | $ | 18.20 | ​ | $ | 13,337
Shares withheld related to net settlement of equity awards | ​ | ​ | ​ | 392,177 | ​ | ​ | 16.76 | ​ | ​ | 6,574
Total | ​ | ​ | ​ | 1,125,003 | ​ | $ | 17.70 | ​ | $ | 19,911
​ Cash Dividends The following table summarizes our dividends declared and paid in each of the quarterly periods of 2025, 2024 and 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | Dividends per | ​ ​ ​ | ​
(dollars in thousands, except per share amounts) | ​ ​ ​ | Common Share | ​ ​ ​ | Dividends Paid
2025 | ​ |  | ​ | ​ |  | ​
Q4 | ​ | $ | 0.210 | ​ | $ | 36,876
Q3 | ​ | ​ | 0.210 | ​ | ​ | 36,921
Q2 | ​ | ​ | 0.190 | ​ | ​ | 33,620
Q1 | ​ | ​ | 0.190 | ​ | ​ | 34,185
​ | ​ | ​ | ​ | ​ | ​ | ​
2024 |  | ​ | ​ |  | ​ | ​
Q4 | ​ | $ | 0.175 | ​ | $ | 30,690
Q3 | ​ |  | 0.165 | ​ | ​ | 27,865
Q2 | ​ |  | 0.165 | ​ | ​ | 25,819
Q1 | ​ |  | 0.165 | ​ | ​ | 26,000
​ | ​ | ​ | ​ | ​ | ​ | ​
2023 |  | ​ | ​ |  | ​ | ​
Q4 | ​ | $ | 0.155 | ​ | $ | 24,190
Q3 | ​ |  | 0.155 | ​ | ​ | 24,250
Q2 | ​ |  | 0.150 | ​ | ​ | 23,504
Q1 | ​ |  | 0.150 | ​ | ​ | 23,852
​ On January 29, 2026, our Board of Directors declared a quarterly dividend of $0.22 per share of common stock, or approximately $38.7 million, which was paid on February 18, 2026 to stockholders of record at the close of business on February 10, 2026.

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