RYAN SPECIALTY HOLDINGS, INC.
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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FY2025 · Filed Feb 13, 2026
RYAN$47.20+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Stockholders’ Equity for the years ended
Consolidated Statements of Stockholders’ Equity
(In thousands, except share data)
| Class ACommon Stock · Class BCommon Stock · Additional Paid-inCapital · Retained Earnings · Accumulated OtherComprehensiveIncome (Loss) · Non-controlling Interests · Total Stockholders’Equity | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount | |||||||||
| Balance at December 31, 2022 | 112,437,825 | $112 | 147,214,275 | $147 | $418,123 | $53,988 | $6,035 | $339,407 | $817,812 |
| Net income | — | — | — | — | — | 61,037 | — | 133,443 | 194,480 |
| Issuance of common stock | 546,045 | 1 | 62,452 | 1 | 1,227 | — | — | 1,467 | 2,696 |
| Forfeiture and retirement of common stock and clawback of vested equity awards | (53,404) | — | — | — | 464 | (605) | — | — | (141) |
| Exchange of LLC equity for common stock | 5,662,596 | 6 | (5,655,539) | (6) | 10,452 | — | — | (10,452) | — |
| Equity awards withheld for settlement of employee tax obligations | — | — | — | — | — | — | — | (975) | (975) |
| Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes | — | — | — | — | (41,342) | — | — | 18,906 | (22,436) |
| Distributions declared for non-controlling interest holders’ tax | — | — | — | — | — | — | — | (74,554) | (74,554) |
| Change in share of equity method investment’s other comprehensive loss | — | — | — | — | — | — | (416) | (557) | (973) |
| Loss on interest rate cap, net | — | — | — | — | — | — | (3,368) | (4,765) | (8,133) |
| Foreign currency translation adjustments | — | — | — | — | — | — | 825 | 1,300 | 2,125 |
| Equity-based compensation | — | — | — | — | 53,073 | — | — | 16,670 | 69,743 |
| Balance at December 31, 2023 | 118,593,062 | $119 | 141,621,188 | $142 | $441,997 | $114,420 | $3,076 | $419,890 | $979,644 |
| Net income | — | — | — | — | — | 94,665 | — | 135,248 | 229,913 |
| Issuance of common stock | 1,466,728 | 1 | 41,254 | — | 4,293 | — | — | 4,849 | 9,143 |
| Forfeiture and retirement of common stock and clawback of vested equity awards | (32,107) | — | — | — | 1,126 | (1,418) | — | — | (292) |
| Exchange of LLC equity for common stock | 5,383,406 | 5 | (5,206,129) | (6) | 9,326 | — | — | (9,325) | — |
| Equity awards withheld for settlement of employee tax obligations | — | — | — | — | — | — | — | (284) | (284) |
| Class A common stock dividends and Dividend Equivalents | — | — | — | — | — | (84,728) | — | — | (84,728) |
| Distributions and Declared Distributions to non-controlling LLC Unitholders | — | — | — | — | — | — | — | (22,711) | (22,711) |
| Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes | — | — | — | — | (3,323) | — | — | 7,552 | 4,229 |
| Distributions declared for non-controlling interest holders’ tax | — | — | — | — | — | — | — | (84,798) | (84,798) |
| Change in share of equity method investment’s other comprehensive income | — | — | — | — | — | — | 2,382 | 3,326 | 5,708 |
| Loss on interest rate cap, net | — | — | — | — | — | — | (3,262) | (4,358) | (7,620) |
| Foreign currency translation adjustments | — | — | — | — | — | — | (3,992) | (4,922) | (8,914) |
| Equity-based compensation | — | — | — | — | 52,839 | — | — | 26,156 | 78,995 |
| Balance at December 31, 2024 | 125,411,089 | $125 | 136,456,313 | $136 | $506,258 | $122,939 | $(1,796) | $470,623 | $1,098,285 |
| Class ACommon Stock · Class BCommon Stock · Additional Paid-inCapital · Retained Earnings · Accumulated OtherComprehensiveIncome (Loss) · Non-controlling Interests · Total Stockholders’Equity | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount | |||||||||
| Balance at December 31, 2024 | 125,411,089 | $125 | 136,456,313 | $136 | $506,258 | $122,939 | $(1,796) | $470,623 | $1,098,285 |
| Net income | — | — | — | — | — | 63,399 | — | 150,758 | 214,157 |
| Issuance of common stock | 1,635,301 | 2 | 319,911 | 1 | 13,537 | — | — | 14,962 | 28,502 |
| Cash and common stock clawbacks related to vested equity awards | (44,176) | — | — | — | 1,966 | (2,103) | — | 307 | 170 |
| Exchange of LLC equity for common stock | 2,601,212 | 3 | (2,267,339) | (2) | 3,499 | — | — | (3,500) | — |
| Equity awards withheld for settlement of employee tax obligations | — | — | — | — | (214) | — | — | (601) | (815) |
| Class A common stock dividends and Dividend Equivalents | — | — | — | — | — | (63,882) | — | — | (63,882) |
| Distributions and Declared Distributions to non-controlling LLC Unitholders | — | — | — | — | — | — | — | (27,402) | (27,402) |
| Tax Receivable Agreement liability and deferred taxes arising from LLC interest ownership changes | — | — | — | — | (68,169) | — | — | 30,917 | (37,252) |
| Distributions declared for non-controlling interest holders’ tax | — | — | — | — | — | — | — | (62,495) | (62,495) |
| Change in share of equity method investments’ other comprehensive income | — | — | — | — | — | — | 288 | 376 | 664 |
| Loss on interest rate cap, net | — | — | — | — | — | — | (1,435) | (5,026) | (6,461) |
| Foreign currency translation adjustments | — | — | — | — | — | — | 16,788 | 24,341 | 41,129 |
| Equity-based compensation | — | — | — | — | 56,733 | — | — | 12,718 | 69,451 |
| Balance at December 31, 2025 | 129,603,426 | $130 | 134,508,885 | $135 | $513,610 | $120,353 | $13,845 | $605,978 | $1,254,051 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.