Share count +1.8% in a year
Dilution: new shares, stock pay and buybacks
Shares offered
Since Nov 12, 2023: 4 sales of new shares, 1 shelf registration.
- Jul 31, 2026 Sale of 920,000 new shares 424B5
- Jul 31, 2026 Sale of 2.5M new shares 424B5
- Jul 31, 2026 Shelf registration: shares and other securities, amount not fixed S-3ASR
- Jul 30, 2025 Sale of 3.8M new shares 424B5
- Jul 25, 2024 Sale of 333,000 new shares 424B5
Every offering filing →“We may offer and sell shares of our Class A common stock from time to time in amounts, at prices and on terms that will be determined at the time of any such offering.”
S-3ASR, Jul 31, 2026 ↗
Bought back
-
no buyback line in the 10-K XBRL, year to Dec 31, 2025
Diluted shares: 443.86M in the year to Dec 31, 2025 2025 +1.8%2024 +3.0%2023 +4.5%2022 +6.6%
Change in the diluted weighted average share count from the fiscal year before, stock splits taken out. Bars use one scale for stock pay and buybacks. Prospectuses are read from their cover page; preliminary ones are left out. Cash & buybacks, year by year → · How
Where the cash came from and where it went
No cash flow chart for banks and insurers: their operating cash flow moves with loans, deposits and trading, so it says little about how cash was spent.
Buybacks, dividends and share count
| Fiscal year to | Buybacks | Dividends | Stock pay | Shares issued for cash | Diluted shares |
|---|---|---|---|---|---|
| 2025-12-31 | - | $134.0M | $118.0M | - | 443.86M |
| 2024-12-31 | - | $92.0M | $112.0M | - | 436.01M |
| 2023-12-31 | - | $42.0M | $100.0M | - | 423.39M |
| 2022-12-31 | - | $40.0M | $92.0M | - | 101.30M |
| 2021-12-31 | - | $38.0M | $80.0M | - | 95.01M |
From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: dividends = PaymentsOfDividendsCommonStock; sbc = ShareBasedCompensation; diluted_shares = WeightedAverageNumberOfDilutedSharesOutstanding.