| Summary of Stock Option Activity |
The following table shows restricted stock unit (“RSU”) and stock option activity for the six months ended June 30, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Options | | RSUs | | Total | | Weighted Average Exercise Price of Options | | Weighted Average FMV of RSUs | | | | Time Based | | PSP | | LTIP | | | | | | | | Outstanding at December 31, 2024 | 20,775 | | | 16,253 | | | 14,506 | | | 859 | | | 52,393 | | | $ | 8.31 | | | $ | 23.75 | | | Granted | 200 | | | 6,097 | | | 1,332 | | | — | | | 7,629 | | | 51.27 | | | 43.18 | | | Exercised options / vested RSUs | (2,004) | | | (4,395) | | | (8,461) | | | (371) | | | (15,231) | | | 3.42 | | | 20.55 | | | Change in awards due to performance multiplier | — | | | — | | | 4,230 | | | — | | | 4,230 | | | — | | | 49.90 | | | Forfeited | (6) | | | (849) | | | (267) | | | (68) | | | (1,190) | | | 18.01 | | | 26.20 | | | Outstanding at June 30, 2025 | 18,965 | | | 17,106 | | | 11,340 | | | 420 | | | 47,831 | | | $ | 9.28 | | | $ | 28.98 | |
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| Summary of Stock Compensation Expense |
The following tables shows stock compensation expense for the three and six months ended June 30, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | Three Months Ended June 30, 2024 | | Options | | RSUs | | Total | | Options | | RSUs | | Total | Time-based (1) | $ | 1,964 | | | $ | 54,629 | | | $ | 56,593 | | | $ | 7,934 | | | $ | 43,740 | | | $ | 51,674 | | PSP (2) | — | | | 28,045 | | | 28,045 | | | — | | | 37,449 | | | 37,449 | | LTIP (2) | — | | | 63 | | | 63 | | | — | | | 1,097 | | | 1,097 | | | Total | $ | 1,964 | | | $ | 82,737 | | | $ | 84,701 | | | $ | 7,934 | | | $ | 82,286 | | | $ | 90,220 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | Six Months Ended June 30, 2024 | | Options | | RSUs | | Total | | Options | | RSUs | | Total | Time-based (1) | $ | 3,900 | | | $ | 97,321 | | | $ | 101,221 | | | $ | 9,978 | | | $ | 82,797 | | | $ | 92,775 | | PSP (2) | — | | | 61,215 | | | 61,215 | | | — | | | 89,801 | | | 89,801 | | LTIP (2) | — | | | 1,111 | | | 1,111 | | | — | | | 1,179 | | | 1,179 | | | Total | $ | 3,900 | | | $ | 159,647 | | | $ | 163,547 | | | $ | 9,978 | | | $ | 173,777 | | | $ | 183,755 | |
(1) Time-based awards vest and are expensed over a defined service period. (2) PSP and LTIP awards vest based on defined performance criteria and are expensed based on the probability of achieving such criteria.
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