v3.25.2
SHARE-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Share-Based Compensation Expense and Unrecognized Compensation Cost

Three Months Ended

Six Months Ended

June 30, 2025

June 30, 

June 30, 

Unrecognized

Weighted

  

2025

  

2024

2025

2024

Compensation Cost

  

Average Years

RSUs(1)

$

0.8

$

1.5

$

3.6

$

3.9

$

2.9

1.1

Options

0.1

0.2

0.2

1.0

0.1

0.6

PSUs

0.6

0.7

1.2

1.3

3.3

1.9

Restricted Cash Units ("RCUs")

0.5

0.2

2.7

2.2

3.5

(2)

1.6

Total share-based compensation expense

$

2.0

$

2.6

$

7.7

$

8.4

(1)RSU awards as of June 30, 2025 includes 842,847 RSUs granted in February 2025 to 10 employees which the award was subject to, and conditioned upon, the receipt of shareholder approval of an amendment to the Company’s Omnibus Incentive Plan at the Company’s annual general meeting of shareholders. On June 25, 2025, the shareholders approved the amendment. As a result of the approval, the condition within the RSU awards granted in February was satisfied and the RSU awards granted in February 2025 will be settled through share issuance. As a result on June 25, 2025 the awards were reclassified from liability to equity. The grant date fair value reflects the stock price as of the date of modification and $0.1 million of incremental compensation cost was recognized during the three and six months ended June 30, 2025.
(2)Unrecognized Compensation Cost related to RCU awards as of June 30, 2025 is calculated using the stock price, subject to certain minimum and maximum amounts, as of June 30, 2025.
Summary of Awards Granted and Weighted Average Grant-Date Fair Value

Six Months Ended

June 30, 2025

Awards Granted

Weighted Average Grant Date Fair Value per Award

RSUs

1,182,719

$

3.21

PSUs

600,986

3.54

RCUs

1,518,653

5.00

Performance Share Units  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Weighted-average Assumptions

Six Months Ended

June 30, 2025

Expected term (in years)

3.00

Expected volatility

 

85.00

%

Risk-free interest rate

 

4.05

%

Share price

$

5.00