Annual report [Section 13 and 15(d), not S-K Item 405]

Stock-Based Compensation - (Tables)

v3.25.4
Stock-Based Compensation - (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-based Compensation Options Activity
The following table summarizes the activity of common stock options for the period from December 31, 2022 through the year ended December 31, 2025:
Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value
(in thousands)
Outstanding at December 31, 2022 1,520,997  $ 7.24 
Exercised (197,941) $ 2.58 
Forfeited (284,956) $ 3.39 
Expired (328,677) $ 12.36 
Outstanding at December 31, 2023 709,423  $ 7.73 
Exercised (93,962) $ 3.04 
Outstanding at December 31, 2024 615,461  $ 8.44 
Exercised (158,574) $ 3.05 
Outstanding at December 31, 2025 456,887  $ 10.31  1.55 $ 574 
Exercisable at December 31, 2025 456,887  $ 10.31  1.55 $ 574 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following table shows the weighted average assumptions for each of the unvested grants:
2025 Grants 2024 Grants 2023 Grants
Weighted average fair value based on Monte Carlo simulation $ 10.80  (1) $ 11.64  (1) $ 12.27 
Expected dividend yield —  % —  % —  %
Risk-free interest rate 4.19  % 4.09  % 3.80  %
Expected volatility 40.39  % 39.45  % 48.82  %
Expected term (in years) 2.90 2.95 2.96
(1)    Relative to the TSR performance measure only.
Schedule of Nonvested Restricted Stock Awards, Restricted Stock Units and Performance Stock Unit Activity
The following table summarizes the activity of restricted stock awards, restricted stock units and performance stock units for the period from December 31, 2022 through the year ended December 31, 2025:
Restricted Stock Awards Restricted Stock Units Performance Stock Units
Number of
Shares		 Weighted Average Grant Date Fair Value (per share) Number of
Units		 Weighted Average Grant Date Fair Value (per share) Number of
Units		 Weighted Average Grant Date Fair Value (per share)
Nonvested as of December 31, 2022 277,056  $ 15.66  2,464,718  $ 11.73  639,532  (1) $ 16.32 
Granted 5,081  $ 9.84  1,195,835  $ 9.84  721,537  $ 12.28 
Vested (5,081) $ 9.84  (1,436,301) $ 11.84  (200,204) $ 20.16 
Forfeited (277,056) $ 15.66  (261,424) $ 11.27  (201,648) $ 18.57 
Nonvested as of December 31, 2023 —  $ —  1,962,828  $ 10.55  959,217  (1) $ 11.84 
Granted 4,540  $ 8.81  1,126,166  $ 8.84  535,629  $ 10.23 
Vested (4,540) $ 8.81  (1,000,288) $ 11.10  —  $ — 
Forfeited —  $ —  (111,333) $ 9.27  (141,437) $ 12.82 
Nonvested as of December 31, 2024 —  $ —  1,977,373  $ 9.37  1,353,409  (1) $ 11.10 
Granted —  $ —  985,551  $ 7.76  508,109  $ 9.28 
Vested —  $ —  (1,053,456) $ 9.53  —  $ — 
Forfeited —  $ —  (445,337) $ 8.46  (370,004) $ 9.56 
Nonvested as of December 31, 2025 —  $ —  1,464,131  $ 8.45  1,491,514  (1) $ 10.86 
(1)    Based on target.