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 0-17071 FIRST MERCHANTS CORPORATION (Exact name of registrant as specified in its charte ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-K [Mark One] Washington, DC 20549 _______________________________ ☒ 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 0-17071 FIRST MERCHANTS CORPORATION (Exact name of registrant as specified in its charte ...

Table of Contents Index to Financial Statements UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Exact name of registrant as specified in its charter) (Mark One) ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-19514 Gulfport Energy Corporation (State or ot ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) Minnesota 41-1622691 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 27, 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: 000-22012 WINM ...

Financial Performance - In fiscal year 2025, Avery Dennison's total net sales were comprised of approximately 69% from the Materials Group and 31% from the Solutions Group[17]. - Net sales for 2025 reached $8,855.5 million, a 1.1% increase from $8,755.7 million in 2024, and a 5.9% increase from $8,364.3 million in 2023[171]. - Net income for 2025 was $688.0 million, a decrease from $704.9 million in 2024, with net income per share at $8.81[181]. - The effective tax rate for 2025 was 25.6%, down from 26.1% in 2024, attributed to benefits from a foreign restructuring transaction[182]. - Reported net sales change for 2025 was 1%, compared to 5% in 2024, with organic sales change remaining flat at 0% in 2025, reflecting higher volume offset by raw material deflation-related price reductions[156]. - Net cash provided by operating activities in 2025 was $881.4 million, a decrease from $938.8 million in 2024, primarily due to higher incentive compensation and tax payments[168]. - Adjusted free cash flow increased to $707.1 million in 2025, compared to $699.5 million in 2024, driven by lower purchases of property, plant, and equipment[168]. Acquisitions and Investments - The acquisition of W.F. Taylor Holdings, Inc. was completed in 2025 for an aggregate purchase consideration of approximately $390 million[29]. - In 2025, the company acquired Taylor Adhesives for approximately $390 million, with ongoing evaluations for additional acquisition targets[71]. - The aggregate purchase consideration for the 2023 acquisitions was approximately $231 million, funded through cash and commercial paper borrowings[165]. - The company expended approximately $47 million on restructuring actions in 2025, with incremental savings of over $60 million from these actions[79]. - Capital expenditures were approximately $200 million in 2025, including investments in fixed assets and IT infrastructure[81]. - The company paid approximately $401.8 million for acquisitions, net of cash acquired, significantly higher than $3.8 million in 2024 and $224.9 million in 2023[210]. Market and Sales Dynamics - International operations accounted for approximately 69% of total net sales in 2025, with over 200 manufacturing and distribution facilities in more than 50 countries[17]. - Approximately 40% of the company's net sales in 2025 originated in emerging markets, which are critical for long-term growth strategy[59]. - The indirect impact of tariffs resulted in an aggregate low single-digit rate decrease in sales in the overall apparel categories over the second, third, and fourth quarters of 2025[52]. - Sales in the overall apparel categories declined in 2025 as a result of tariff-related uncertainty[64]. - The company anticipates that tariff-related uncertainty will persist, with an indirect impact resulting in a low single-digit rate decrease in sales in overall apparel categories during the latter half of 2025[169]. Sustainability and Corporate Responsibility - The company has made substantial investments in sustainability-driven products, focusing on advancing the circular economy and increasing recyclability of packaging[66]. - Research and development efforts are directed towards sustainability, circular economy, and advanced technologies, with a focus on RFID and digital solutions[28]. - The company achieved a 60% absolute cumulative reduction in GHG emissions from its 2015 baseline, exceeding its 2025 sustainability goal of a 26% reduction[70]. - By 2030, the company aims to reduce Scope 1 and 2 GHG emissions by 70% compared to the 2015 baseline and work with its supply chain to reduce Scope 3 emissions[70]. - The company is facing increasing demands from stakeholders regarding sustainability and governance practices, which could impact its market valuation[83]. Workforce and Employee Engagement - The global workforce consisted of approximately 35,000 employees, with 83% located outside the U.S. and 67% in emerging markets[31]. - Approximately 98% of employees were paid above the applicable legal minimum wage at year-end 2025[35]. - Avery Dennison's commitment to employee engagement is reflected in annual surveys, which aim to improve workplace culture and retention[37]. - The company faces challenges in recruiting and retaining high-caliber talent, which is critical for its competitive position[95]. Financial Risks and Liabilities - The company had approximately $3.73 billion of debt as of December 31, 2025, which significantly impacts its ability to obtain financing on favorable terms[100]. - Average variable-rate borrowings were approximately $739 million in 2025, making the company sensitive to fluctuations in interest rates[101]. - Changes in foreign currency exchange rates, particularly unfavorable impacts from the Indian rupee and Brazilian real, may result in lower net sales and increased costs[56]. - The company is exposed to risks from geopolitical, social, and economic instability, which could materially adversely affect its business[53]. - The company is subject to ongoing compliance requirements and audits by various tax authorities, which could materially affect its effective tax rate[93]. - Changes in corporate tax policies and enforcement activities could have a material adverse effect on the company's business due to its international operations[92]. Cybersecurity and IT Risks - Cybersecurity risks persist, with potential threats from AI-driven attacks and the need for ongoing monitoring and updates to security measures[86]. - The company has implemented measures to mitigate risks related to information technology disruptions, but vulnerabilities remain due to reliance on third-party vendors[84]. - The company’s cybersecurity risk management program includes a comprehensive incident response plan and is overseen by the Board, with updates provided to the Audit Committee[127]. - Cybersecurity risks, including ransomware attacks, continue to increase, necessitating ongoing improvements in the company's security measures[90]. Legal and Compliance Issues - The company is involved in litigation regarding intellectual property rights, which could result in significant costs and impact its competitive position[109]. - The company has accrued liabilities for environmental clean-up at ten sites designated by U.S. governmental agencies, with potential costs exceeding the accrued amounts due to uncertainties in remediation[115]. - The company is subject to evolving environmental, health, and safety laws, which could significantly increase compliance costs and impact production capabilities[114]. - Export control laws may impact the company's ability to compete in international markets, with potential penalties for non-compliance[116]. Shareholder Returns - The company repurchased 3.2 million shares of its common stock at an aggregate cost of $575.6 million in 2025, with $526.3 million remaining authorized for repurchase[106]. - A quarterly dividend rate increase of approximately 7% was implemented in April 2025, although future increases are not guaranteed[107]. - Dividends paid amounted to $288.4 million in 2025, slightly higher than $277.5 million in 2024[212]. - Share repurchases totaled $572.3 million in 2025, compared to $247.5 million in 2024[212].

Exhibit 99.1 NEWS RELEASE Range Announces Fourth Quarter 2025 Results and 2026 Guidance FORT WORTH, TEXAS, February 24, 2026…RANGE RESOURCES CORPORATION (NYSE: RRC) today announced its fourth quarter 2025 financial results and plans for 2026. Full-Year 2025 Highlights – Return of Capital Highlights and 2026 Guidance – • Approximately $500 million of maintenance drilling and completion capital • $120 - $140 million for growth capital • $10 - $20 million for maintenance land • $5 - $15 million for targeted ac ...

Financial Performance - The Health, Wealth & Career segment generated 55% of total revenue in 2025, down from 60% in 2023, while the Risk & Broking segment increased to 45% from 40% in the same period[32] - The company aims to grow revenue, improve margins, and increase free cash flow, EBITDA, and earnings through a focused investment framework and capital allocation strategy[29] - The company anticipates growth in free cash flow generation, adjusted net income, adjusted operating margin, and adjusted earnings per share[14] Client Base and Market Presence - The company serves approximately 93% of the FTSE 100, 89% of the Fortune 1000, and 92% of the Fortune Global 500 companies, indicating a strong client base[20] - No individual client represented more than 10% of the company's consolidated revenue for the years ended December 31, 2025, 2024, and 2023[20] - The company places insurance with approximately 2,500 insurance carriers, with no significant concentration of total premiums from any single carrier in 2025, 2024, or 2023[20] Business Segments and Services - The Health & Benefits business provides services across more than 160 countries, addressing clients' needs in health, wellbeing, and other group benefit programs[36] - A significant portion of revenue in the Health & Benefits business comes from recurring work, with contracts being annual or multi-year[38] - The Retirement business provides actuarial support and administrative services for pension plans, with high client retention rates due to multi-year contracts driven by regulatory needs[42] - The Investments business manages over $34 billion in premiums annually, offering tailored solutions to clients including pension plans and private wealth investors[56] - A significant portion of revenue in Benefits Delivery & Outsourcing is recurring, driven by long-term service contracts typically ranging from three to five years[54] - The Corporate Risk & Broking segment delivers integrated global solutions, leveraging data and analytics across various geographical areas[56] Strategic Initiatives and Growth - The company is focused on strategic investments in corporate risk and broking, health and benefits, and wealth, while divesting non-strategic businesses[34] - The company has recently acquired Newfront Insurance Holdings, Inc. and plans to acquire Cushon, indicating a strategy of growth through acquisitions[14] - The company’s strategy includes optimizing its portfolio through both inorganic and organic investments in high-growth areas[34] - The company emphasizes a unified approach to advisory, broking, and solutions as a path to growth in attractive markets[28] Workforce and Employee Engagement - The company employs approximately 46,900 colleagues as of December 31, 2025, with a voluntary turnover rate of 9.8%[72] - Hiring campaigns focused on mid-senior level positions resulted in over 6,700 hires, a 4% decrease from 2024[73] - The company expanded total rewards programs in 2025, including the employee share purchase plan, to enhance colleague experience[76] - The flexible work approach includes office-based, hybrid, and remote solutions, aimed at attracting and retaining top talent[77] - The company emphasizes a strong colleague experience, fostering an inclusive environment and supporting professional development[69] Competitive Landscape - The company faces competition from major firms such as Aon plc, Marsh & McLennan, and Cognizant Technology Solutions, as well as numerous regional and local firms[79] - Competitive pressures have increased due to a reduction in demand for certain insurance products, with clients opting for self-insurance mechanisms rather than purchasing additional insurance[80] - The company identifies Mercer HR Consulting and Aon plc as its largest competitors in the pension consulting industry, highlighting the competitive landscape in HR consulting[84] - The insurance consulting and software industry is highly competitive, with major competitors including Milliman and the big four accounting firms[85] Regulatory Compliance - Regulatory compliance is critical, with the company subject to various laws including the E.U. General Data Protection Regulations and the U.S. Health Insurance Portability and Accountability Act[90] - The company’s ability to provide services is contingent upon compliance with state-specific regulations in the U.S., which can vary significantly[91] - The Financial Conduct Authority in the U.K. oversees the company's operations, emphasizing the importance of regulatory compliance in maintaining market integrity[96] - The company is adapting to new regulations post-Brexit, which have implications for its operations in the U.K. and E.U.[99] - The evolving market landscape necessitates continuous adaptation to regulatory changes, particularly in data privacy and cybersecurity[105] - Regulatory compliance failures can result in disciplinary action, fines, reputational damage, and financial harm to the company[104] - Changes in legislation and regulation, including data privacy and cybersecurity laws, may adversely affect the company's business[105] - The company is subject to regulatory requirements in multiple jurisdictions, including the U.S. and U.K., but does not view these as adversely affecting its competitive position[103] Leadership and Management - The company’s executive team includes experienced leaders such as Kristy D. Banas, Chief Human Resources Officer, and Lucy Clarke, President of Risk & Broking, indicating strong leadership in navigating competitive challenges[106][107] - The company has a strong leadership team with extensive experience in the industry, including the CEO and CFO[13]

Financial Performance - Linde's sales for 2025 reached $33,986 million, showing an increase from $33,005 million in 2024 and $32,854 million in 2023[18]. - Reported operating profit for 2025 was $8,923 million, up 3% from $8,635 million in 2024, while adjusted operating profit increased 4% to $10,137 million from $9,720 million[130]. - Net income for Linde plc in 2025 was $6,898 million, a 5% increase from $6,565 million in 2024, with diluted earnings per share rising to $14.61 from $13.62[130]. - Cash flow from operations reached $10,350 million, an increase of $927 million compared to 2024, primarily due to higher net income and lower working capital requirements[130]. - Total sales increased by $981 million, or 3%, to $33,986 million in 2025 compared to 2024[181]. - Operating profit rose by $288 million, or 3.3%, to $8,923 million in 2025, driven by higher pricing and productivity initiatives[181]. - Adjusted EBITDA for 2025 was $13,351 million, a 4% increase from $12,819 million in 2024, with an adjusted EBITDA margin of 39.3%[133]. - Reported net income for Linde plc rose by $333 million, or 5%, while adjusted net income increased by $297 million, or 4%[153]. Sales and Market Presence - Approximately 64% of Linde's 2025 sales were generated outside the United States, indicating a strong international presence[30]. - Linde's industrial gas operations generated 90% of sales from the Americas, EMEA, and APAC segments, highlighting the company's strong market presence in these regions[122]. - Sales in the Americas segment increased by $766 million, or 5%, with higher pricing contributing 3% and volumes contributing 1%[183]. - EMEA segment sales grew by $197 million, or 2%, with currency translation increasing sales by 3%[187]. - APAC segment sales remained flat at $6,661 million, with acquisitions contributing 2% and volumes decreasing by 1%[190]. - Engineering segment sales decreased by $72 million, or 3%, primarily due to project timing, despite a 3% increase from currency translation[194]. Operational Efficiency and Costs - Energy costs represent the largest expense in Linde's production and distribution processes, with strategies in place to mitigate price fluctuations[34]. - Cost of sales, excluding depreciation and amortization, was $17,389 million, representing 51.2% of sales, a decrease from 51.9% in 2024 due to higher pricing and productivity gains[133]. - Selling, general and administrative expenses increased by 3% to $3,433 million, maintaining 10.1% of sales, influenced by acquisitions and cost inflation[138]. - The company is actively involved in developing proprietary technologies for gas production and distribution, enhancing operational efficiencies for customers[19]. Research and Development - Linde's research and development efforts are directed towards gas processing, clean energy technologies, and new industrial gas applications[32]. - The company is a leader in low-carbon hydrogen production, utilizing technologies such as steam methane reformation and electrolysis[21]. - Linde's research and development efforts focus on new technologies for industrial gases, which are crucial for maintaining competitive advantage[69]. Workforce and Employment - Linde's workforce consisted of 65,177 employees as of December 31, 2025, with approximately 28% being women[43]. - The number of employees decreased by 112 to 65,177 in 2025, mainly due to ongoing cost reduction programs[155]. Financial Position and Debt - Total net debt outstanding at December 31, 2025, was $21,933 million, an increase of $5,160 million from $16,773 million at the end of 2024[215]. - Linde's global effective borrowing rate was approximately 2.3% for 2025[215]. - The company maintains a $5 billion and a $1.5 billion unsecured and undrawn revolving credit agreement with no associated financial covenants[216]. Risks and Challenges - Linde's international operations are subject to risks including currency exchange rate fluctuations, which could adversely affect financial results[63]. - The company faces legal and compliance risks due to anti-corruption, trade, and economic sanctions laws, which could lead to significant penalties and affect its reputation[80]. - Catastrophic events, such as natural disasters and health epidemics, could disrupt Linde's operations and adversely affect financial results[66]. - Linde is exposed to risks from changes in regulations related to environmental protection and climate change, which may adversely impact its market behavior and operations[79]. - Integration challenges from acquisitions may divert management focus and lead to difficulties in achieving targeted synergies and retaining key employees[81]. - The company has significant pension obligations that may impact future results of operations and required pension contributions[70]. Capital Expenditures and Investments - Capital expenditures totaled $5,261 million, up from $4,497 million in 2024[203]. - Approximately 60% of capital expenditures were allocated to the Americas segment, with 21% in the APAC segment[208]. - Acquisitions in 2025 totaled $412 million, an increase of $95 million from 2024, mainly in the EMEA and APAC segments[209].

Financial Performance - Total revenues for the first quarter of fiscal 2026 were $632.0 million, down from $673.6 million in the same quarter last year[3]. - Net income for the first quarter was $20.9 million, or $2.62 per diluted share, compared to $28.2 million, or $3.58 per diluted share, in the prior year[3]. - Total revenues for the three months ended January 31, 2026, were $631.952 million, a decrease of 6.2% from $673.623 million in the same period of 2025[23]. - Net income available to common stockholders for the three months ended January 31, 2026, was $18.190 million, down 28.8% from $25.522 million in the prior year[23]. - Adjusted EBITDA for the first quarter was $63.1 million, exceeding the high end of the guidance range provided[3]. - Adjusted EBITDA for the three months ended January 31, 2026, was $63.081 million, a decrease of 12.4% from $72.074 million in the prior year[27]. - The company incurred interest expense of $28.749 million for the three months ended January 31, 2026, compared to $28.873 million in the same period of 2025[30]. - Income before income taxes excluding land-related charges for the three months ended January 31, 2026, was $31.061 million, down from $40.903 million in the prior year[24]. Homebuilding Operations - Domestic consolidated contracts increased by 3.1% to 1,242 homes, valued at $664.8 million, compared to 1,205 homes valued at $643.3 million in the prior year[4]. - Homebuilding gross margin percentage was 10.1% for the first quarter of fiscal 2026, down from 15.2% in the same quarter last year[3]. - Home deliveries decreased by 12.4% to 1,099 homes in the three months ended January 31, 2026, compared to 1,254 homes in the same period of 2025[40]. - Contracts signed during the three months ended January 31, 2026, totaled 1,365 homes, a decrease of 2.5% from 1,400 homes in the same period of 2025[40]. - The backlog of homes as of January 31, 2026, was valued at $964.122 million, an increase of 3.5% from $931.921 million in the prior year[40]. - The dollar value of consolidated domestic contract backlog decreased by 16.0% to $782.7 million compared to $931.9 million a year ago[4]. - The gross domestic contract cancellation rate for consolidated contracts improved to 14% from 16% in the prior year[4]. Liquidity and Assets - Total liquidity as of January 31, 2026, was $471.4 million, significantly above the target range of $170 million to $245 million[10]. - Total assets reached $2,734,676,000 as of January 31, 2026, up from $2,633,913,000 as of October 31, 2025[37]. - Total inventories as of January 31, 2026, amounted to $1,647,970,000, showing a slight increase from $1,637,470,000 as of October 31, 2025[37]. - Cash and cash equivalents increased to $339,910,000 as of January 31, 2026, compared to $272,772,000 as of October 31, 2025[37]. - Total liabilities decreased slightly to $1,897,042,000 as of January 31, 2026, from $1,802,978,000 as of October 31, 2025[37]. - The company’s retained earnings increased to $145,516,000 as of January 31, 2026, from $127,326,000 as of October 31, 2025[37]. - The total stockholders' equity for Hovnanian Enterprises, Inc. was $835,739,000 as of January 31, 2026, compared to $830,935,000 as of October 31, 2025[37]. Segment Performance - In the Northeast segment, home contracts decreased by 38.5% to 72 homes, while deliveries fell by 34.9% to 71 homes, with a backlog of 232 homes valued at $170.4 million, down 17.7%[46]. - The Southeast segment saw a 50.7% drop in home contracts to 33 homes and a 64.6% decline in deliveries to 28 homes, with a backlog of 83 homes valued at $61.4 million, down 21.7%[46]. - In the West segment, home contracts increased by 63.6% to 18 homes, and deliveries surged by 111.1% to 19 homes, with a backlog of 15 homes valued at $7.6 million, down 6.0%[46]. - Overall, unconsolidated joint ventures reported a 36.9% decrease in home contracts to 123 homes and a 40.1% decline in deliveries to 118 homes, with a backlog of 330 homes valued at $239.4 million, down 18.1%[46]. - The KSA joint venture experienced an 88.4% drop in home contracts to 23 homes and an 88.7% decline in revenue to $5.7 million, with no backlog reported[46]. Cost and Expenses - The cost of sales for homebuilding, excluding interest, was $509.631 million for the three months ended January 31, 2026, down from $533.290 million in the same period of 2025[39]. - Selling, general and administrative expenses decreased to $50.281 million in the three months ended January 31, 2026, from $54.253 million in the prior year[39]. - The company reported a homebuilding gross margin of $58.420 million for the three months ended January 31, 2026, down from $98.391 million in the same period of 2025[25]. - Land and lot sales gross margin for the three months ended January 31, 2026, was $23.470 million, significantly up from $1.663 million in the prior year[25]. - The company’s interest incurred to adjusted EBITDA ratio for the three months ended January 31, 2026, was 2.18, compared to 2.41 in the same period of 2025[27].

Exhibit 99.1 HOVNANIAN ENTERPRISES, INC. News Release Contact: Brad G. O'Connor Jeffrey T. O'Keefe Chief Financial Officer Vice President, Investor Relations 732-747-7800 732-747-7800 HOVNANIAN ENTERPRISES REPORTS FISCAL 2026 FIRST QUARTER RESULTS Met or Exceeded All Guidance Metrics Provided 5% Year-Over-Year Increase in Domestic Consolidated Communities $471 Million of Total Liquidity Domestic Contracts, Including Unconsolidated Joint Ventures, Increased 11% Year-Over-Year for January and 13% for February ...