There have been no material changes to the risk factors previously disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 as filed with the Securities and Exchange Commission on February 23, 2026. ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS Issuer Purchases of Equity Securities In 2011, our Board of Directors approved a continuation of the current stock repurchase program, authorizing repurchases for a total of $150 million with no time limitation. This repurchase authority included, and was not in addition to, any unspent amounts remaining under the prior authorization. The following table provides information regarding our Class A nonvoting common stock share repurchases during the quarter ending June 30, 2026: (dollars in thousands, except per share data) Period Total number of shares purchased Average price paid per share Total number of shares purchased as part of publicly announced program Dollar value of shares that may yet be purchased under the program April 1-30, 2026 (1) 1,290 $ 233.19 — $ 17,754 May 1-31, 2026 — — — 17,754 June 1-30, 2026 (2) 1,908 228.65 — 17,754 Total 3,198 230.48 — (1)Represents shares purchased on the open market to fund the rabbi trust for both the outside director deferred stock compensation plan (1,076 shares at an average price of $233.19 per share) and the incentive compensation deferral plan (214 shares at an average price of $233.19 per share). (2)Represents shares purchased on the open market to fund the rabbi trust for the incentive compensation deferral plan. 40 Table of Contents