We are externally managed by our Manager and do not currently have any employees. However, as of December 31, 2025,

our Manager, certain individuals employed by an affiliate of our Manager, and certain members of our board of directors

were compensated, in part, through our issuance of stock-based instruments.

Under our two current stock incentive plans, a maximum of 10,400,000 shares of our class A common stock may be issued

to our Manager, our directors and officers, and certain employees of affiliates of our Manager. As of December 31, 2025,

there were 5,075,887 shares available under our current stock incentive plans.

The following table details the movement in our outstanding shares of restricted class A common stock and the weighted-


	Restricted Class A Common Stock	Weighted-Average Grant Date Fair Value Per Share
Balance as of December 31, 2023	2,180,181	$24.41
Granted	1,324,830	19.88
Vested	(1,259,768)	25.24
Forfeited	(102,484)	24.18
Balance as of December 31, 2024	2,142,759	$21.13
Granted	1,418,494	19.63
Vested	(1,331,028)	21.22
Forfeited	(55,294)	19.33
Balance as of December 31, 2025	2,174,931	$20.14

These shares generally vest in installments over a period of three years, pursuant to the terms of the respective award

agreements and the terms of our current stock incentive plans. The 2,174,931 shares of restricted class A common stock

outstanding as of December 31, 2025 will vest as follows: 1,160,893 shares will vest in 2026; 712,962 shares will vest in

2027; and 301,076 shares will vest in 2028. As of December 31, 2025, total unrecognized compensation cost relating to

unvested share-based compensation arrangements was $42.0 million based on the grant date fair value of shares granted.

This cost is expected to be recognized over a weighted-average period of 1.2 years from December 31, 2025.