| | 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 | Registrant, State of Incorporation or Organization, Ad ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 26, 2026 INTERNATIONAL BANCSHARES CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction (Commission File (IRS Employer of incorporation) Number) Identification No.) 1200 San Bernardo, Laredo, Texas 78040-1359 (Address of principal executive of ...

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 001-34257 UNITED FIRE GROUP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdictio ...

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 ☐ 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 1-12709 Tompkins Financial Corporation (Exact name of registrant as specified in its charter) (State or other jurisdicti ...

Commission File Number 1-4462 STEPAN COMPANY 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 __________ (Exact name of registrant as specified in its charter) Delaware 36-1823834 (State or other jurisdiction ...

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 ☐ 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 1-3619 PFIZER INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I. ...

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 0-25346 _________________________________ ACI WORLDWIDE, INC. ...

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 001-38267 RIBBON COMMUNICATIONS INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...

Financial Commitments and Acquisitions - The company entered into a debt financing commitment for approximately $3.7 billion to fund the acquisition of Amicus, which was later reduced to $2.8 billion after issuing $850 million in senior unsecured notes[25]. - The company plans to enter into a senior secured term loan facility for approximately $2.8 billion and a new $600 million revolving credit facility in 2026[25]. - The company entered into a Bridge Commitment for up to approximately $3.7 billion in debt financing related to the pending acquisition of Amicus[436]. - In February 2026, the company issued $850.0 million in aggregate principal amount of the 2034 Notes to finance the pending acquisition of Amicus, reducing the Bridge Commitment from approximately $3.7 billion to $2.8 billion[437]. Revenue and Product Performance - In 2025, net product revenues for VOXZOGO reached $926.9 million, while VIMIZIM generated $792.1 million, and NAGLAZYME brought in $485.4 million[28]. - Total revenues for 2025 reached $3,221.3 million, an increase of 12.7% compared to $2,853.9 million in 2024[412]. - The company recognized net product revenues from ALDURAZYME sales, receiving payments ranging from 39.5% to 50% based on sales volume[446]. - The gross-to-net sales adjustments for the year ended December 31, 2025, included a balance at the beginning of the year of $195.0 million and an ending balance of $246.1 million[448]. Research and Development - Total R&D expense for 2025 was $921.9 million, up 23.4% from $747.2 million in 2024, driven by higher spending on later-stage clinical programs[416]. - R&D expense for later-stage clinical programs surged to $308.3 million in 2025, a significant increase from $27.6 million in 2024[416]. - The company incurred a $221.0 million In-Process Research and Development (IPR&D) charge following the Inozyme acquisition in 2025[416]. - The company reported a decrease in R&D spending on marketed products, primarily related to ROCTAVIAN, which fell to $229.9 million in 2025 from $285.6 million in 2024[416]. Market and Competitive Landscape - The biopharmaceutical industry is highly competitive, with potential competition from both larger and smaller companies in various therapeutic areas[65]. - There are currently no approved drugs for ENPP1 deficiency in the U.S. or EU, indicating a potential market opportunity for BMN 401[79]. - The commercial organization is structured around two business units: Skeletal Conditions (VOXZOGO) and Enzyme Therapies, with ongoing assessments for additional market agreements[60]. Regulatory and Compliance - The approval process for new drugs typically takes many years, involving preclinical tests and multiple phases of clinical trials[89][96]. - Clinical trials must comply with regulations and good clinical practices, with oversight from regulatory agencies and ethics committees[93][94]. - The FDA's Fast Track program allows for expedited review of drugs addressing unmet medical needs, with a determination made within 60 days of request[100]. - The FDA may approve drugs for serious conditions based on surrogate endpoints that predict clinical benefits, subject to post-marketing compliance requirements[102]. Financial Performance and Expenses - Cost of sales increased to $717.4 million in 2025, primarily due to a $119.2 million write-off of ROCTAVIAN inventory[412]. - Gross margin decreased to 77.7% in 2025 from 79.7% in 2024, largely impacted by the ROCTAVIAN inventory write-off[412]. - Total SG&A expenses for 2025 were $1,153.0 million, an increase of 14.3% from $1,009.0 million in 2024[418]. - G&A expenses rose to $622.8 million in 2025, a 17.0% increase from $532.3 million in 2024, primarily due to $118.5 million in restructuring charges related to ROCTAVIAN[419]. Legal and Intellectual Property - The company is engaged in legal actions to protect its intellectual property, particularly concerning patents related to VOXZOGO[81]. - The patent term for U.S. drugs can be extended up to five years under the Hatch-Waxman Act, providing additional market exclusivity[82]. - ALDURAZYME and NAGLAZYME patents expired in November 2020 and November 2023, respectively, with ongoing efforts to pursue additional patents and extensions[83]. Employee and Workforce - Employee count as of December 31, 2025, was 3,221, with 2,026 employees located in the U.S. and Canada[149]. - The company is committed to leveraging diverse perspectives to drive innovation and growth within its workforce[152]. Tax and Financial Obligations - Provision for income taxes increased to $133.6 million in 2025, up from $114.9 million in 2024, mainly due to non-deductible acquired IPR&D expenses[426]. - The liability for unrecognized tax benefits was $380.9 million as of December 31, 2025, with uncertain timing of future payments[443].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Commission file number 1-32737 KOPPERS HOLDINGS INC. (Exact name of registrant as specified in its charter) Pennsylvania 20-1878963 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 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________to (State of incorporat ...