v3.25.1
EQUITY-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2025
Schedule of equity option activity and related information

For the three months ended March 31, 2025

Weighted-average

Weighted-average

Remaining Contractual

Aggregate Intrinsic

    

Stock Options

    

Exercise Price

    

Term (Years)

    

Value (in thousands) (a)

Beginning balance, outstanding

 

1,030,595

$

19.89

2.5

$

1,399

Exercised

(24,943)

8.66

Expired

(6,602)

15.13

Ending balance, outstanding

 

999,050

$

20.20

2.3

$

504

Ending balance, exercisable

999,050

$

20.20

2.3

$

504

Nonvested as of March 31, 2025

$

(a) Aggregate intrinsic value for stock options is based on the difference between the exercise price of the stock options and the quoted closing Class A common stock price of $10.50 and $13.24 as of March 31, 2025 and December 31, 2024, respectively.

Summary of activity related to the units outstanding

    

PSUs

Nonvested as of December 31, 2024

1,988,208

Target shares granted

376,397

Target shares vested (1)

(594,295)

Target shares added by performance factor

98,029

Target shares forfeited (1)

(116,406)

Target shares outstanding as of March 31, 2025

1,751,933

(1)The PSUs granted in 2022 related to ROA and FCF vested at 132% and 62% of target, respectively.
Restricted stock  
Schedule of restricted stock activity

For the three months ended March 31, 2025

Weighted-average

    

Restricted Stock Awards

    

Grant Date Fair Value

Nonvested as of December 31, 2024

2,670,410

$

8.18

Granted

740,084

12.20

Vested

(952,859)

8.06

Nonvested as of March 31, 2025

2,457,635

$

9.44

Performance share units  
Schedule of percentage of target PSUs earned

Ranking Among Peer Group

Percentage of Target Amount Earned

Outside of Top 10

0%

Top 10

50%

Top 7

100%

Top 3

175%

Adjusted FCF Performance Percentage

Percentage of Target Amount Earned

Less than 70%

0%

70%

50%

100%

100%

130%

175%

Ranking Among Peer Group

Percentage of Target Amount Earned

Outside of Top 10

0%

Top 10

50%

Top 7

100%

Top 3

200%

Performance Level

Absolute TSR (%)

Percentage of Target PSUs Earned

Below Threshold

Less than 0%

0%

Threshold

0%

50%

Target

10%

100%

Maximum

Greater than or equal to 30%

200%

Performance Level

Relative TSR (%)

Absolute TSR between 0% and 15%*

Absolute TSR greater than 15%

Absolute TSR less than 0%

Maximum

Greater than or equal to 80%

200%

200%

100%

Target

55%

100%

100%

100%

Threshold

25%

50%

50%

50%

Below Threshold

Less than 25%

0%

50%

0%