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Subsequent Events
6 Months Ended
Jun. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act ("OBBBA"). The OBBBA makes permanent key elements of the Tax Cuts and Jobs Act, including 100% bonus depreciation, domestic research cost expensing, and the business interest expense limitation. ASC 740, “Income Taxes”, requires the effects of changes in tax rates and laws on deferred tax balances to be recognized in the period in which the legislation is enacted. The Company has not evaluated all deferred tax balances under the newly enacted tax law for the three and six months periods ended June 30, 2025 and an estimate of the financial impact cannot be made at this time; however, it is not expected to have a material impact on the Company's consolidated financial statements.

On July 18, 2025, the Board increased the size of the Board from five members to six members and appointed Mr. Brett Icahn to serve as a member of the Board, effective as of August 1, 2025. Mr. Icahn will serve as a member of the Board until the 2026 annual meeting of stockholders.

On August 5, 2025, the Board approved a dividend reinvestment plan (the “Dividend Reinvestment Plan”), pursuant to which the shareholders of the Company may, at their election, reinvest any dividends declared by the Board.

On August 5, 2025, the Board declared an increased dividend (the “Dividend”) of $0.12 per share of the Company’s common stock, payable on September 29, 2025, to shareholders of record as of September 22, 2025. Shareholders may elect to receive cash or shares of common stock through the Company's Dividend Reinvestment Plan.

In connection with the Dividend Reinvestment Plan, the Board approved a general waiver under the Company’s Tax Benefits Preservation Plan (the “Tax Benefits Preservation Plan”), by and between the Company and Equiniti (formerly known as American Stock Transfer & Trust Company, LLC). This waiver applies to any shareholders who beneficially own more than 4.9% of the Company’s outstanding common stock and who would otherwise trigger the rights plan, but only as the result of shares they receive under the Dividend Reinvestment Plan, and not otherwise.