Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2025 or Commission File Number: 1-6887 BANK OF HAWAII CORPORATION (Exact name of registrant as specified in its charter) | Delaware | 99-0148992 | | --- | --- | | (State of incorporation) | (I.R.S. Employer Identification No.) | 130 Merchant Street Honolulu Hawaii 96813 (Add ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________________ Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) Delaware 98-0420726 222 W. Las Colinas Blvd., Suite 900N Irving, TX 75039-5421 December 31, 2025 OR ☐ TRANSITION REPORT PURSU ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to __________________ Commission File Number 001-13439 INNOVEX INTERNATIONAL, INC. (Exact name of Registrant as specified in its Charter) (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 | Dela ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of Registrant as specified in its Charter) | Delaware | 74-2162088 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identific ...

Financial Performance - Fourth quarter 2025 revenue reached $180 million, an 8% increase sequentially from Q3 2025, and a 99% increase compared to 2024[5] - Net loss for Q4 2025 was $4 million, translating to $(0.04) per diluted Class A common share; adjusted pro forma net income was $30 million, or $0.35 per fully diluted share[5] - Adjusted EBITDA for Q4 2025 was $69 million, a 1% increase sequentially from Q3 2025, and grew by 137% year over year[5] - Total revenue for the full year 2025 was $622.2 million, a significant increase from $313.1 million in 2024[14] - Total revenues for the three months ended December 31, 2025, were $179.7 million, a 86.6% increase from $96.3 million in the same period of 2024[21] - Adjusted EBITDA for the three months ended December 31, 2025, was $68.8 million, compared to $37.4 million for the same period in 2024, representing an increase of 83.9%[29] - Adjusted pro forma net income for the year ended December 31, 2025, was $250.8 million, compared to $103.1 million for the year ended December 31, 2024[34] - Adjusted pro forma net income for the year ended December 31, 2025, was $94,132 million, significantly higher than $24,888 million in 2024[37] - Adjusted pro forma earnings per share - diluted for the year ended December 31, 2025, was $1.25, compared to $0.50 in 2024[37] Segment Performance - Fourth quarter 2025 segment adjusted EBITDA for Solaris Power Solutions was $53 million, an 8% decrease from Q3 2025 due to a less favorable project mix[10] - Fourth quarter 2025 segment adjusted EBITDA for Solaris Logistics Solutions was $23 million, a 31% increase from Q3 2025, driven by an increase in fully-utilized system count[10] - Solaris Power Solutions segment generated revenues of $103.6 million for the three months ended December 31, 2025, up from $33.9 million in the same period of 2024, marking a 205.5% increase[21] - Solaris Logistics Solutions segment reported revenues of $76.1 million for the three months ended December 31, 2025, compared to $62.4 million in the same period of 2024, an increase of 22.0%[21] Cash and Debt Management - Cash and cash equivalents attributable to Solaris increased to $339.4 million as of December 31, 2025, up from $159.9 million as of December 31, 2024[33] - Long-term debt attributable to Solaris decreased to $972.6 million as of December 31, 2025, compared to $315.7 million as of December 31, 2024[33] Capital Expenditures and Investments - Capital expenditures for Solaris Power Solutions were $252.6 million for the three months ended December 31, 2025, significantly higher than $124.7 million in the same period of 2024[21] - The company plans to continue expanding its market presence through strategic acquisitions and investments in new technologies[30] Dividends and Shareholder Returns - The company approved a first quarter 2026 dividend of $0.12 per share, marking the 30th consecutive dividend payment[5] Losses and Expenses - The company incurred a loss on extinguishment of debt of $41,451 million in 2025, primarily related to a prepayment penalty and unamortized debt issuance costs[37] - Transaction and acquisition costs for the year ended December 31, 2025, totaled $2,180 million, down from $4,358 million in 2024[37] - Incremental income tax expense for the year ended December 31, 2025, was $(16,699) million, compared to $(591) million in 2024[37] - The change in Tax Receivable Agreement liability for the year ended December 31, 2025, was $(1,598) million, reflecting adjustments due to tax rate changes[37] - The company reported a net loss attributable to Stateline non-controlling interest of $6,516 million for the year ended December 31, 2025[37] Future Guidance - The company increased its first quarter 2026 adjusted EBITDA guidance to $72-77 million, up from the previous guidance of $70-75 million, and established second quarter 2026 guidance at $76-84 million[5] Strategic Agreements - Solaris entered into a 10-year agreement to provide over 500 MW of power to a leading hyperscaler, with an option to extend for an additional 5 years starting in Q1 2027[5]

Exhibit 99.1 Solaris Energy Infrastructure Announces Fourth Quarter and Full Year 2025 Results, Updated Earnings Guidance, Power Contracting Progress, Continued Shareholder Returns Co-Chief Executive Officer Amanda Brock, added "We are in advanced discussions with customers for Power Solutions capacity that significantly surpasses our current open availability, underscoring strong demand in the market. We are developing a diversified business, not just in customers but also capabilities, which gives us and ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2025 MERIT MEDICAL SYSTEMS, INC. (Exact name of registrant as specified in its charter) Utah 87-0447695 (IRS Employer Identification No.) (State or other jurisdiction of incorporation or organization) or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 3, 2026 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number 001-05224 STANLEY BLACK & DECKER, INC. (Exact Name Of Registrant As Specified In Its Charter) Connecticut 06-0548860 (State or ...

Investment Portfolio - The fair value of the company's investments was approximately $2,742.0 million in 113 portfolio companies as of December 31, 2025, compared to approximately $3,091.0 million in 120 portfolio companies as of December 31, 2024[25]. - The company's ten largest portfolio investments accounted for 33.2% of total assets as of December 31, 2025, with the largest being NMFC Senior Loan Program III LLC at 5.5%[27]. - The top three industries in which the company was invested as of December 31, 2025, were Software (18.1%), Business Services (17.8%), and Healthcare (16.0%), totaling 90.1% of total assets[27]. - The company targets debt investments that yield current income and may provide opportunities for capital appreciation through equity securities[33]. - The company monitors portfolio company performance and financial trends on at least a quarterly basis to identify any developments that may impact investment strategy[38]. - Exit strategies for investments include the sale of the portfolio company, recapitalization, repayment of loans at maturity, or sale of the debt investment[39]. - The company values its assets on a quarterly basis, with the board of directors responsible for determining the fair value of portfolio investments[41]. - The company may suffer credit losses and defaults by portfolio companies, which could harm its operating results[72]. - The company’s investment strategy focuses primarily on privately held companies, presenting challenges due to the lack of available information about these companies[76]. Financial Performance - The weighted average yield to maturity at cost for income-producing investments was approximately 10.5% at December 31, 2025, down from 11.0% at December 31, 2024[26]. - The base management fee is calculated at an annual rate of 1.25% of gross assets, following a fee waiver agreement that resulted in approximately $0.3 million in waived management fees for the year ended December 31, 2025[79][80]. - The incentive fee consists of two parts, with 20.0% of Pre-Incentive Fee Net Investment Income payable quarterly, subject to a hurdle rate of 2.0% per quarter[81][82]. - For the year ended December 31, 2025, total incentive fees waived were approximately $12.8 million, which cannot be recouped by the Investment Adviser[83]. - The company accrued a hypothetical capital gains incentive fee based on cumulative net realized capital gains and losses, as well as cumulative net unrealized capital appreciation and depreciation on investments held at the end of each period[85]. - In Alternative 1, the pre-incentive fee net investment income was 0.74%, which did not exceed the hurdle rate of 2.00%, resulting in no income-related incentive fee[86]. - In Alternative 2, the pre-incentive fee net investment income was 2.39%, leading to an income-related incentive fee of 0.39% after applying the "catch-up" provision[87]. - In Alternative 3, the pre-incentive fee net investment income was 2.99%, resulting in an income-related incentive fee of 0.60% after fully satisfying the "catch-up" provision[89]. - For Year 2 in Example 1, the capital gains incentive fee was $6.0 million, calculated as 20.0% of the $30.0 million realized capital gains from the sale of Investment A[90]. - In Year 4 of Example 1, the capital gains incentive fee was $0.2 million, calculated as $6.2 million (20.0% of cumulative realized capital gains) less the $6.0 million fee taken in Year 2[90]. - In Example 2, the capital gains incentive fee for Year 2 was $5.0 million, calculated as 20.0% of the $25.0 million (realized gains from Investment A less unrealized depreciation on Investment B)[92]. Regulatory Compliance - The company adheres to regulatory requirements under the 1940 Act, which includes restrictions on investments and transactions with affiliates[44]. - The company is required to maintain a coverage ratio of at least 150.0%, allowing it to borrow $2 for every $1 of equity[46]. - The company may issue additional equity or debt capital, but cannot sell common stock below net asset value without shareholder approval[47]. - The company received a new exemptive order from the SEC on May 13, 2025, allowing co-investments with affiliates under specific conditions[48]. - To qualify as a Regulated Investment Company (RIC), the company must distribute at least 90.0% of its investment company taxable income annually[54]. - The company is subject to a 4.0% nondeductible U.S. federal excise tax on certain undistributed income unless it meets specific distribution requirements[55]. - The company has received licenses from the SBA for its subsidiaries to operate as SBICs, allowing them to incur leverage through SBA-guaranteed debentures[60]. - The maximum leverage available to a group of SBICs under common control is $350.0 million, with individual SBICs having specific limits[61]. - The SBA prohibits SBICs from financing certain businesses, including those engaged in project finance and real estate[64]. - An SBIC may not provide financing to a single small business in an amount exceeding approximately 10.0% of its private capital and the aggregate amount of SBA leverage[65]. - The company intends to monitor compliance with the Sarbanes-Oxley Act of 2002 and related regulations[116]. Operational Structure - The Investment Committee is responsible for approving investments above $10.0 million, ensuring a structured investment process[29]. - The company does not have any employees; day-to-day operations are managed by the Investment Adviser[115]. - The company has adopted a code of ethics to establish procedures for personal investments and restrict certain personal securities transactions[107]. - The company incurs various operating expenses, including management fees, incentive fees, and costs associated with investment monitoring and compliance[93]. Market Conditions - The company operates in a period of capital markets disruption and economic uncertainty, which may impair its ability to secure debt financing[69]. - The company is subject to numerous constraints under the 1940 Act and the Code, which could adversely affect its business operations[69]. - The company’s ability to grow may be impaired if additional capital is unavailable or not available on favorable terms[72]. - The valuation process for certain portfolio holdings creates potential conflicts of interest, impacting investment returns[72]. - The company’s business model may depend on maintaining referral relationships with private equity sponsors, which could affect its investment strategy if not developed effectively[72]. Interest Rate Sensitivity - As of December 31, 2025, approximately 83.74% of the company's investments at fair value are floating-rate investments, while 16.26% are fixed-rate investments[503]. - The Federal Reserve held interest rates flat in January 2026 after previously decreasing rates by 0.25% in September, October, and December of 2025[503]. - A hypothetical decrease of 200 basis points in interest rates could lead to a 12.07% reduction in interest and dividend income net of interest expense[506]. - Conversely, a hypothetical increase of 200 basis points in interest rates could result in a 12.07% increase in interest and dividend income net of interest expense[506]. Investment Restrictions - The company had no temporary investments as of December 31, 2025[104]. - The company had no repurchase agreements as of December 31, 2025[105]. - The company is permitted to issue multiple classes of debt if its asset coverage is at least 150.0% immediately after issuance[106].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-34504 ADDUS HOMECARE CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...