VRTS VIRTUS INVESTMENT PARTNERS, INC.

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 4/4 quarters. Q1 2026: $20M, Q3 2025: $15M, Q2 2025: $12M, Q1 2025: $5M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $20M vs trailing avg $11M (+85%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-216M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 758,807 shares = 11.3% of 6,695,181 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

3 open-market purchases by 1 insiders

• MORRIS W HOWARD () bought 1,900 shares at $129.62 on 2026-03-12
• MORRIS W HOWARD () bought 150 shares at $129.23 on 2026-03-12
• MORRIS W HOWARD () bought 2,000 shares at $129.35 on 2026-03-12

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 4 quarters and 3 insider purchases by 1 insiders (no calendar overlap, but both independently active)

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $1M, sold $0M in the last 90 days (net buying)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected