Capital‑Market Activity

Capital‑market activity included a share repurchase of 2.1 million shares at an average price of $20.30 per share and a dividend declaration of $0.12 per share for Q1 2026. A stock tender offer and additional repurchase authorization brought the total shares acquired to 4.1 million for approximately $55 million. The company plans to incur AI transition charges of $1 million to $1.5 million in Q1 2026, primarily related to severance costs from headcount reductions enabled by AI efficiencies.