XML 30 R20.htm IDEA: XBRL DOCUMENT

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2025 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
John P. Nallen [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On December 2, 2025, Lachlan K. Murdoch, the Company’s Executive Chair and Chief Executive Officer, and John P. Nallen, the Company’s President and Chief Operating Officer, each adopted a plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended (a “Rule 10b5-1 plan”). Each plan provides for the future potential exercise of vested stock options (which are scheduled to expire in 2026) and the associated sale of up to (a) 952,384 shares of Class A Common Stock in the case of Mr. Murdoch’s plan and (b) 459,115 shares of Class A Common Stock in the case of Mr. Nallen’s plan. Each plan expires on August 5, 2026, or earlier either upon the completed sale of all shares subject to such plan or in certain other circumstances. Also on December 2, 2025, Mr. Murdoch adopted a Rule 10b5-1 plan for the future potential transfer by him of 175,372 shares of Class A Common Stock to a family trust, subject to certain conditions, which plan expires on August 5, 2026, or earlier in certain circumstances.
Name	John P. Nallen
Title	President and Chief Operating Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 2, 2025
Expiration Date	August 5, 2026
Arrangement Duration	246 days
Aggregate Available	459,115
Lachlan K. Murdoch [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On December 2, 2025, Lachlan K. Murdoch, the Company’s Executive Chair and Chief Executive Officer, and John P. Nallen, the Company’s President and Chief Operating Officer, each adopted a plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended (a “Rule 10b5-1 plan”). Each plan provides for the future potential exercise of vested stock options (which are scheduled to expire in 2026) and the associated sale of up to (a) 952,384 shares of Class A Common Stock in the case of Mr. Murdoch’s plan and (b) 459,115 shares of Class A Common Stock in the case of Mr. Nallen’s plan. Each plan expires on August 5, 2026, or earlier either upon the completed sale of all shares subject to such plan or in certain other circumstances. Also on December 2, 2025, Mr. Murdoch adopted a Rule 10b5-1 plan for the future potential transfer by him of 175,372 shares of Class A Common Stock to a family trust, subject to certain conditions, which plan expires on August 5, 2026, or earlier in certain circumstances.
Lachlan K. Murdoch Plan One [Member] \| Lachlan K. Murdoch [Member]
Trading Arrangements, by Individual
Name	Lachlan K. Murdoch
Title	Executive Chair and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 2, 2025
Expiration Date	August 5, 2026
Arrangement Duration	246 days
Aggregate Available	952,384
Lachlan K. Murdoch Plan Two [Member] \| Lachlan K. Murdoch [Member]
Trading Arrangements, by Individual
Name	Lachlan K. Murdoch
Title	Executive Chair and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 2, 2025
Expiration Date	August 5, 2026
Arrangement Duration	246 days
Aggregate Available	175,372