The Board of Directors authorized a new stock buyback program for up to $200 million of common stock. The program becomes effective on April 30, 2026, and is scheduled to expire on April 29, 2027. Repurchases will commence following the completion of the July 2025 buyback plan, which has approximately $10.5 million remaining. The company may execute repurchases via open market, privately negotiated transactions, or Rule 10b5-1 trading plans.