Table of Contents 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 28, 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 1-15295 TELEDYNE TECHNOLOGIES INCORPORATED (Exact name of registrant as specified in its charter) Delaware 25-1843385 ( ...

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 For the transition period from to Commission File Number 001-42436 MOUNTAIN LAKE ACQUISITION CORP. (Exact name of Registrant as specified in its Charter) Cayman Islands 98-1796213 (State or othe ...

FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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 001-42436 MOUNTAIN LAKE ACQUISITION CORP. (Exact name of Registrant as specified in its Charter) Cayman Islands 98-1796213 (State or othe ...

Exhibit 99.1 Contact: Holly Schoenfeldt Director of Marketing and Public Relations 210.308.1268 hschoenfeldt@usfunds.com Shareholder Value Initiatives The Company's shareholder yield as of December 31, 2025, was 9.89%, more than double the yield on the five-year and 10-year Treasury bonds on the same trading day. 2 The Company's Board of Directors (the "Board") approved payment of a $0.0075 per share per month dividend beginning in January 2026 and continuing through March 2026. The Company maintains a shar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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 For the transition period from to Commission file number 1-14023 COPT DEFENSE PROPERTIES (Exact name of registrant as specified in its charter) Maryland 23-2947217 (State or other jurisdiction of ...

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 For the transition period from to . Commission File Number: 001-32269 EXTRA SPACE STORAGE INC. (Exact name of registrant as specified in its charter) Maryland 20-1076777 (State or other jurisdic ...

Acquisitions and Growth - Asbury Automotive Group completed the acquisition of The Herb Chambers Companies for approximately $1.76 billion, increasing its footprint in the northeast region of the United States[27]. - The company also acquired the Jim Koons Automotive Companies for about $1.50 billion, diversifying its geographic mix into the greater Washington-Baltimore region[29]. - The company has experienced significant growth through acquisitions, including the Koons acquisition in 2023 and the Herb Chambers acquisition in 2025, leading to increased sales and assets[99]. - The acquisition of the Herb Chambers dealership group, which includes 33 dealerships and 52 franchises, is expected to positively contribute to the company's overall revenue objectives[63]. - The Company completed the Herb Chambers acquisition on July 21, 2025, for approximately $1.76 billion, acquiring 33 dealerships and three collision centers[217]. Financial Performance - Consolidated revenue for the year ended December 31, 2025, increased to $18.00 billion, up from $17.19 billion in the prior year, representing a growth of 4.7%[222]. - Consolidated gross profit for the year ended December 31, 2025, rose to $3.07 billion, compared to $2.95 billion for the prior year, marking an increase of 4.1%[222]. - The increase in revenue and gross profit was primarily driven by the Herb Chambers acquisition and growth in parts and services gross profit, despite lower gross profit per vehicle sold for new vehicles[222]. - The company recognized asset impairment charges of $141.0 million associated with manufacturer franchise rights and goodwill for the year ended December 31, 2025[108]. - The company's transaction-adjusted net leverage ratio was 3.2x as of December 31, 2025, compared to 2.9x as of December 31, 2024, indicating an increase in leverage[60]. Revenue Sources - As of December 31, 2025, Asbury operated 223 new vehicle franchises across 15 states, with a diverse revenue base that includes new and used vehicle sales, parts and services, and finance and insurance products[40]. - New vehicle revenues for the year ended December 31, 2025, included 32% from luxury franchises, 40% from import franchises, and 28% from domestic franchises[40]. - The company's Dealerships segment revenues are primarily derived from new vehicle sales, used vehicle sales, parts and service, and third-party vehicle financing[209]. - The TCA segment revenues are derived from the sale of various vehicle protection products, including vehicle service contracts and GAP[211]. Operational Strategy - The company emphasizes a diversified mix of products and services to minimize reliance on any single manufacturer and maintain profitability[25]. - The company is focused on improving profitability through the integration of TCA's full-suite F&I products across its dealership portfolio, anticipating higher profitability than third-party F&I products[56]. - The company invests in technology to enhance customer experience and operational efficiency, aiming for a more efficient guest experience at a lower cost[55]. - The company evaluates its dealership network continuously, making strategic investments to enhance capacity and customer experience[61]. - The company aims to create an inclusive workplace culture to attract and retain talented employees[84]. Market and Economic Conditions - The automotive retail industry is highly competitive, with the company relying on advertising, service reputation, and local branding to maintain its market position[64]. - The automotive retail industry is sensitive to economic conditions, with inflation impacting costs and consumer demand, potentially reducing profit margins[112]. - Economic conditions such as increasing interest rates and rising inflation may adversely impact demand for the Company's products and services[218]. - The automotive industry is experiencing technological advances, including electrification, which could impact sales and profitability[138]. Regulatory and Compliance Issues - The company is subject to various environmental laws and regulations, which may incur costs and capital expenditures for compliance[80]. - The company is facing significant regulatory pressure from the CFPB and FTC, which could materially impact its finance and insurance business[165]. - The FTC has initiated an administrative proceeding against the company and three of its dealerships, alleging violations of the FTC Act and Equal Credit Opportunity Act[165]. - The company is involved in numerous legal proceedings that could adversely affect its business and financial condition[172]. Employee and Talent Management - As of December 31, 2025, the company employed approximately 15,000 full-time and part-time employees, with no collective bargaining agreements in place[83]. - The company offers competitive compensation and benefits, including health, dental, and vision benefits, 401(k) match, and paid time off[90]. - The company has implemented a training curriculum for all store positions and guest experience training for all employees in 2024[88]. - The company emphasizes attracting and retaining top talent, investing in employee training and development to drive growth and optimize operations[57]. Risks and Challenges - Supply chain disruptions from natural disasters, pandemics, or geopolitical events could materially affect the flow of vehicle and parts inventories[121]. - Changes in consumer preferences, particularly towards electric and hybrid vehicles, could impact new and used vehicle sales volumes and profitability[116]. - The company may face limitations on acquiring additional franchises based on performance standards set by manufacturers[128]. - A decline in credit ratings or disruptions in credit markets could limit the company's liquidity and operational capabilities[149].

Business Operations - YUM operates over 63,000 restaurants across 155 countries, with system sales totaling $68.295 billion in 2025[18] - Approximately 97% of YUM's restaurant units are operated by independent franchisees, with 40% of franchised units in mainland China operating under master franchise agreements[29] - The company has a Master License Agreement with Yum China, its largest franchisee, which is crucial for its operations in mainland China[65] - The company has approximately 61,000 franchise restaurants globally, employing over 1 million people, creating numerous part-time, entry-level opportunities[50] - YUM's KFC division has 33,897 units, with 99% operated by franchisees, while the Habit Burger & Grill division has 384 units, with only 22% franchised[18] - The company does not consider its operations to be seasonal, indicating stable performance throughout the year[43] Financial Performance - System sales growth for 2025 was reported at +4%, with same-store sales growth of +3%[194] - Company sales reached $2,945 million in 2025, a 15% increase from $2,552 million in 2024[196] - Net income for 2025 was $1,559 million, reflecting a 5% increase compared to $1,486 million in 2024[196] - Diluted EPS for 2025 was $5.55, up 6% from $5.22 in 2024[196] - Franchise sales increased to $65,350 million in 2025, compared to $62,914 million in 2024, marking a growth of 3.4%[198] - Core operating profit for 2025 was $2,684 million, compared to $2,572 million in 2024, indicating a growth of 4.4%[201] Strategic Initiatives - The company is reviewing strategic options for the Pizza Hut brand, aiming to complete this review in 2026[17] - The company emphasizes a strategy focused on customer needs, franchisee performance, and leveraging technology for growth[27] - The company has initiated a process to explore strategic options for the Pizza Hut brand to maximize long-term value creation, with no assurance of a successful transaction outcome[72] - Significant expenses are expected in connection with the strategic review of Pizza Hut, which may divert management's attention and disrupt business operations[74] Technology and Digital Sales - Digital sales approached $40 billion in 2025, accounting for nearly 60% of overall system sales[36] - The Byte by Yum! platform was introduced in 2025, enhancing operational efficiency and customer experience through AI-driven solutions[35] - The company is investing significantly in digital and technology capabilities, including AI, but faces risks related to the rapidly evolving legal and regulatory landscape[95] - There is an increasing dependence on digital commerce and delivery platforms, and any failure to effectively implement these initiatives could adversely affect sales growth[96] Risks and Challenges - The company faces risks related to food safety and potential catastrophic events, which could disrupt operations and affect growth prospects[56][57] - The company may face significant tax liabilities related to the Yum China spin-off if the IRS challenges the tax-free status of the transaction[129][130] - The company faces significant foreign currency risks, particularly with fluctuations in the value of the U.S. dollar against currencies like the Chinese Renminbi, which could adversely affect reported earnings[82] - Cybersecurity incidents pose a risk to the company's financial results and growth prospects, with a ransomware attack in January 2023 impacting certain IT systems and resulting in the closure of fewer than 300 restaurants for one day[86] - The company faces challenges due to labor shortages and increased labor costs, which may adversely affect operations and growth prospects[110] Market Environment - The retail food industry is highly competitive, with various types of competitors, and the company does not constitute a significant portion of the industry in terms of system units or sales[44] - The company’s growth may be impacted by franchisee financial distress, which could hinder new unit development and operational profitability[61][69] - The company is subject to evolving ESG expectations, which may increase compliance costs and management focus, potentially impacting financial results[119] Employee Engagement and Culture - The company is focused on building a culture of engagement and opportunity among employees, which is integral to its growth strategy[51][54] - As of December 31, 2025, the company employed approximately 49,000 persons, with about 90% working in restaurants, and 80% of U.S. restaurant general managers promoted from within[49][50] Legal and Regulatory Compliance - The company is subject to numerous global data privacy laws, including the E.U.'s GDPR, which impose strict requirements and significant penalties for noncompliance[90] - Compliance with Payment Card Industry Data Security Standards is critical; failure to do so could result in civil liability and increased costs[89] - Legal and regulatory complexities, including labor laws and health regulations, may adversely affect business operations and growth prospects[123] Capital Structure and Shareholder Returns - As of December 31, 2025, the company's total outstanding short-term borrowings and long-term debt was approximately $12.0 billion[137] - The Company declared and paid four cash dividends of $0.71 per share in 2025, with a new dividend of $0.75 per share declared for March 6, 2026[171] - The Company has remaining capacity to repurchase up to $1.1 billion of Common Stock under the authorized $2.0 billion share repurchase program[172]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K 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: 001-35477 Regional Management Corp. (Exact name of registrant as specified in its charter) Delaware 57-0847115 (State or other jurisdiction of incorporation or organization) 979 Batesville Road, Suite B Greer, South Caroli ...

Table of Contents 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 For the transition period from to . Commission File Number 001-32975 ____________________________________________________ ...