Stockholders' Equity

12 Months Ended

Dec. 31, 2025

Stockholders' Equity Note [Abstract]

Stockholders' Equity

19)STOCKHOLDERS’ EQUITY (DEFICIT)

Our Board of Directors declared dividends on our outstanding shares of common stock to stockholders of record as follows for the periods presented (in thousands, except per share amounts):

	Year Ended December 31,
	2025				2024				2023
	Per Share Amount		Aggregate Amount		Per Share Amount		Aggregate Amount		Per Share Amount		Aggregate Amount
First Quarter	$	—	$	—	$	—	$	—	$	—	$	—
Second Quarter		—		—		—		—		—		—
Third Quarter		—		—		—		—		—		—
Fourth Quarter		0.75		36,574		0.50		24,102		—		—

In September 2023, the Company entered into an equity distribution agreement (the “Agreement”) with Raymond James & Associates, Inc., as agent (the “Agent”), relating to the issuance and sale from time to time by the Company, through the Agent, of up to 8,000,000 shares of the Company’s common stock, par value $0.0001 per share (the “Shares”). Sales of the Shares under the Agreement will be made in sales deemed to be “at the market offerings”. The Agent is not required to sell any specific amount of Shares but agreed to act as the Company’s sales agent for a commission equal to 3.0% of the gross proceeds from the sales of the Shares. As of December 31, 2025, 4,373,000 shares have been sold under the Agreement, resulting in commissions paid of approximately $1,181,000 and net proceeds of approximately $38,190,000. The Agreement will terminate upon the issuance and sale of all Shares subject to the Agreement, or the Agreement may be suspended or discontinued at any time.

During the year ended December 31, 2025, the Company received a dividend of $23,000,000 from our insurance subsidiary, AmCoastal. During December 2024, the Company received a $14,300,000 dividend from our insurance subsidiary, AmCoastal.

In July 2019, our Board of Directors authorized a stock repurchase plan of up to $25,000,000 of our common stock. As of December 31, 2025, we had not yet repurchased any shares under this stock repurchase plan but we may from time to time repurchase shares of common stock pursuant to 10b5-1 plans, open market purchases, privately negotiated transactions or by other methods. The timing and volume of repurchases are at the discretion of management, based on the capital needs of the business, the market price of ACIC common stock, and general market conditions. The plan has no expiration date, and the plan may be suspended or discontinued at any time.

See Note 20 for information regarding our stock-based compensation activity.