STOCKHOLDERS' EQUITY |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Stockholders' Equity Note [Abstract] | |
| STOCKHOLDERS' EQUITY | STOCKHOLDERS' EQUITY Common Stock As of March 31, 2025, 355.0 million shares of common stock were authorized with a par value of $0.01 per share and 155.9 million shares of common stock were outstanding. Holders of common stock are entitled to one vote per share and to receive dividends when, as, and if, declared by our Board of Directors. As of March 31, 2025, we have not declared any dividends. Share-Based Compensation 2021 Plan In June 2021, we adopted the 2021 Equity Incentive Plan (amended and restated as of April 22, 2024), (the “2021 Plan”). The 2021 Plan provides for the grant of stock options, restricted stock, restricted stock units (“RSUs”), stock appreciation rights, performance units, and performance shares to our employees, directors, and consultants. Generally, our stock options and RSUs vest annually over three years and our stock options are exercisable over a maximum period of five years from their grant dates. Options are typically forfeited when the employment relationship ends for employees and they do not typically forfeit for directors. Generally, our RSUs are equity-classified awards, as they are share settled. All exercised options are expected to be settled in shares, net of shares withheld to satisfy the award exercise price. As of March 31, 2025, a total of 34.9 million shares were authorized for issuance to satisfy share-based compensation awards made under the 2021 Plan. During the three months ended March 31, 2025, 0.1 million options were granted, 2.0 million options were forfeited, 0.2 million options were exercised, 2.5 million RSUs were granted and 0.8 million RSUs vested.
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