SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2024

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

In January 2025, the Company received notification from the 7Ridge Fund that certain performance goals were met and the exit option to acquire Trading Technologies became exercisable. As of February 21, 2025, the exit option has not been exercised.

On February 10 and 11, 2025, the Company’s Board of Directors and Compensation Committee, as applicable, approved granting $47.8 million of RSUs and $6.0 million of PSUs, with an effective date of February 19, 2025, to certain officers and employees at a fair value, based on the closing price of the Company’s stock on the pricing date of February 19, 2025. The shares will have a three year vesting period based on achievement of certain service, performance and/or market conditions and vesting accelerates upon the occurrence of a termination of employment following a change in control of the Company or in the event of earlier death, or disability.

On February 11, 2025, the Company's Board of Directors declared a quarterly cash dividend of $0.63 per share. The dividend is payable on March 14, 2025 to stockholders of record at the close of business on February 28, 2025.

Subsequent to the year ended December 31, 2024, from January 1, 2025 through February 19, 2025, the Company repurchased 77,108 shares of its common stock under its share repurchase program at an average cost per share of $206.47, for a total value of $15.9 million. As of February 19, 2025, the Company had $663.9 million of availability remaining under its existing share repurchase authorizations.

There have been no additional subsequent events that would require disclosure in, or adjustment to, the consolidated financial statements as of and for the year ended December 31, 2024.