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Stockholders' Equity | 12 Months Ended
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Dec. 31, 2025
Equity [Abstract] |
Stockholders' Equity | Stockholders’ Equity Common Stock Our Certificate of Incorporation specifies the following rights, preferences, and privileges for our common stockholders. Voting Holders of our Class A common stock are entitled to one vote per share. We have not provided for cumulative voting for the election of directors in our restated Certificate of Incorporation. In addition, our Certificate of Incorporation provides that a holder, or group of affiliated holders, of more than 24.9% of our common stock may not vote shares representing more than 14.9% of the voting power represented by the outstanding shares of our Class A common stock. Dividends Subject to preferences that may apply to any shares of preferred stock outstanding at the time, the holders of outstanding shares of our Class A common stock are entitled to receive dividends out of funds legally available at the times and in the amounts that our board of directors may determine. In the event a dividend is paid in the form of shares of common stock or rights to acquire shares of common stock, the holders of Class A common stock will receive Class A common stock, or rights to acquire Class A common stock, as the case may be. In connection with the proposed transactions with CommerceOne and Smith Ventures, the Merger Agreement and the Separation Agreement each contain certain restrictions that currently prohibit our payment of dividends. Liquidation Upon our liquidation, dissolution or winding-up, the assets legally available for distribution to our stockholders would be distributable ratably among the holders of our Class A common stock and any participating preferred stock outstanding at that time after payment of liquidation preferences, if any, on any outstanding shares of our preferred stock and payment of other claims of creditors. Preemptive or Similar Rights Our Class A common stock is not entitled to preemptive rights or subject to redemption. Comprehensive Income The tax impact on unrealized gains and losses on investment securities available-for-sale for the years ended December 31, 2025, 2024 and 2023 was approximately $50.6 million, $3.4 million and $12.2 million, respectively. Stock Repurchase Program In February 2022, our Board of Directors authorized an increase to our stock repurchase program to $100 million for any future repurchases. As of December 31, 2025, we have an authorized $4.5 million remaining under our current stock repurchase program for additional repurchases. Pursuant to the Merger Agreement and the Separation Agreement, we are restricted from making further repurchases without the approval of CommerceOne and Payments Buyer, respectively.

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