Quarterly report [Sections 13 or 15(d)]

Noncontrolling Interest

v3.26.1
Noncontrolling Interest
6 Months Ended
Jun. 30, 2026
Noncontrolling Interest [Abstract]  
Noncontrolling Interest Noncontrolling Interest
As of June 30, 2026, the Company holds 33,736 Class A Units in Opco and the existing direct and certain indirect equity holders of Omni (“Omni Holders”) hold 6,568 units of Opco designated as Class B Units (“Opco Class B Units”) and 6,568 corresponding Company Series B Preferred Units which together are exchangeable into 6,568 shares of common stock of the Company.
The following tables provide the exchange activity of the Opco Class B Units and the corresponding fully-diluted noncontrolling interest ownership percentage in the Company based on such exchange activity.
Opco Class B Units
Fully-diluted Ownership
Outstanding units at December 31, 2025 8,760  22.0  %
Exchanged into shares of common stock (133)
Outstanding units at March 31, 2026 8,627  21.5  %
Exchanged into shares of common stock (2,059)
Outstanding units at June 30, 2026 6,568  16.4  %
Opco Class B Units
Fully-diluted Ownership
Outstanding units at December 31, 2024 10,088  25.3  %
Exchanged into shares of common stock (585)
Outstanding units at March 31, 2025 9,503  23.8  %
Exchanged into shares of common stock (80)
Outstanding units at June 30, 2025 9,423  23.5  %
As of June 30, 2026, there have been a total of 5,537 Opco Class B Units and corresponding Company Series B Preferred Units exchanged for 5,537 shares of common stock, and such actual exchanges and subsequent issuances represented 16.4% of the outstanding shares of common stock as of the end of such period.