v3.25.4
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Unit Activity

A summary of the Company’s RSU activity is as follows:

 

   

Number of

Shares

    

Weighted Average

Grant Date

Fair Value

Per Share

  
Unvested Outstanding at January 1, 2025     786,551     $ 10.82  
Granted (1)     816,124     $ 10.33  
Forfeited     (171,750 )   $ (9.64 )
Vested (2)     (455,544 )   $ (11.61 )
Unvested Outstanding at December 31, 2025     975,381     $ 10.25  

 

(1) The amount shown as “granted” includes 259,717 performance-based target RSUs for 2025 as to which the number eligible to vest ranged from 0% to 200% of the target amount of RSUs (a maximum of 519,434 RSUs based on attainment of Adjusted EBITDA targets for 2025 and criteria previously set by the Compensation Committee). The amount shown also includes tranches covering an aggregate of 104,166 Adjusted EBITDA RSUs (subject to performance criteria for 2025) which were part of sign-on awards of multiple tranches approved in 2023 for our Executive Chairman and our Chief Executive Officer with respect to which the accounting grant date for the 2025 tranches did not occur until the targets were set in February 2025.
   
(2) The RSUs that vested during the year ended December 31, 2025 included: (a) approximately 97,935 RSUs that are subject to deferred settlement terms; and (b) approximately 314,470 RSUs that vested on the last day of the year and were settled on a net share basis in January 2026.
Schedule of Stock Based Compensation Expenses

The Company recognized stock-based compensation expense as follows:

 

   Year Ended
December 31,
2025		   Year Ended
December 31,
2024		 
   (in millions) 
RSUs  $6.2   $6.7 
ESPP   0.1    0.1 
Payroll taxes on vesting of RSUs   0.4    0.8 
Stock-based compensation expense  $6.7   $7.6