COMPENSATION AND DEFINED CONTRIBUTION PLANS |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 | |||
| COMPENSATION AND DEFINED CONTRIBUTION PLANS | |||
| COMPENSATION AND DEFINED CONTRIBUTION PLANS |
The Company and its wholly owned subsidiaries sponsor Internal Revenue Code Section 401(k) defined contribution plans for the benefit of all full-time and part-time employees. Employees are entitled to make tax-deferred contributions up to the maximum allowed by law of their eligible compensation. The Company sponsors various other non-U.S. Defined Contribution and Defined Profit-Sharing Plans that are offered by the Company’s foreign subsidiaries. Many of these plans were assumed through the Company’s acquisitions or are required by local regulatory requirements. The Company may deposit funds for these plans with insurance companies, or into government-managed accounts consistent with local regulatory requirements, as applicable. Contributions to the plans are made by both the employee and the Company. The Company’s contributions to the plans were $4,801, $3,811 and $2,380 for the years ended December 31, 2025, 2024 and 2023, respectively. Long-Term Incentive Plan In March 2021, the Company initiated a cash-based long-term incentive plan. Each award granted under the plan shall be eligible to vest in three equal annual installments over a period of consecutive one-year performance periods, with each installment of the award vesting on the last day of the applicable performance period, subject to the achievement of the performance metrics established by the board of directors for the applicable annual performance period. Total compensation expense related to this plan was $0, $49 and $860 for the years ended December 31, 2025, 2024 and 2023, respectively, and is included in selling, general and administrative in the Company’s consolidated statements of operations and comprehensive income. As of December 31, 2024, there were no remaining awards outstanding. |