XML 33 R22.htm IDEA: XBRL DOCUMENT v3.25.3
SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2025
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

15. SUBSEQUENT EVENTS

On October 21, 2025, the Company announced that David DeStefano, the Company’s Chief Executive Officer, President and Chairperson of the Board, will retire as an executive officer of the Company effective as of November 10, 2025.  In connection with Mr. DeStefano’s retirement, the Board appointed Christopher Young as Chief Executive Officer, President and a Class III director of the Company effective as of November 10, 2025.

On October 30, 2025, the Board authorized a stock repurchase program for up to $150,000 of the Company's outstanding shares of Class A common stock (the “Repurchase Program”). Under the Repurchase Program, share repurchases may be made from time to time in one or more open market or privately negotiated transactions, and/or through other legally permissible means in accordance with applicable rules and regulations promulgated under the Exchange Act. The timing and amount of any shares repurchased will be determined by the Company's management based on its evaluation of market conditions and other factors. Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. Any repurchased shares will be available for use in connection with the Company’s stock plans and for other corporate purposes. The Repurchase Program has no termination date and may be modified, suspended or discontinued at any time.