v3.25.1
Equity-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2025
Equity-Based Compensation  
Schedule of equity-based compensation expense

The Company’s equity-based compensation expense, by type of award, is as follows (in thousands):

Three Months Ended March 31,

   

2024

2025

RSU awards

$

9,261

11,469

PSU awards

6,440

3,263

Equity awards issued to directors

376

413

Total expense

$

16,077

15,145

Summary of RSU award activity

Weighted

Average

Number

Grant Date

  

of Units

  

Fair Value

  

Total awarded and unvested—December 31, 2024

3,035,362

$

26.05

Granted

1,105,044

33.64

Vested

(886,695)

26.20

Forfeited

(5,555)

29.00

Total awarded and unvested—March 31, 2025

3,248,156

$

28.59

Schedule of weighted average fair value assumptions used for PSUs granted

The following table presents the assumptions used in the Monte Carlo valuation model and the grant date fair value information for the 2025 Absolute TSR PSUs:

Dividend yield

%

Volatility

48

%

Risk-free interest rate

3.97

%

Weighted average fair value of awards granted

$

35.01

Summary of PSU award activity

Weighted

Average

Number

Grant Date

   

of Units

   

Fair Value

   

Total awarded and unvested—December 31, 2024

1,351,295

$

35.27

Granted

289,370

34.33

Vested

(140,659)

35.28

Total awarded and unvested—March 31, 2025

1,500,006

$

35.09