v3.26.1
Share-Based Compensation Plan
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Plan Share-Based Compensation Plan
The Company's accounting policies for share-based compensation are described in Note 7, 'Share-Based Compensation,' of the Company's Annual Report on Form 10-K for the year ended December 31, 2025. There have been no material changes to these policies during the three months ended March 31, 2026. The disclosures below should be read in conjunction with that note.
Stock Options

During the three months ended March 31, 2026, the Company did not grant share-based compensation awards and no share-based awards were forfeited.

As of March 31, 2026, no unrecognized compensation remains for Time-Based and Performance Based stock options as they are fully vested.

A summary of stock option activity during the three months ended March 31, 2026, is presented below:

Time BasedPerformance Based
SharesWeighted Average Exercise PriceWeighted Average Remaining Contractual TermAggregate Intrinsic ValueSharesWeighted Average Exercise PriceWeighted Average Remaining Contractual TermAggregate Intrinsic Value
Outstanding as of December 31, 20254,351,430$5.80 8.2$101,658 4,426,955$5.79 8.3$103,445 
Granted— — — — 
Exercised(91,500)$5.53 (97,981)$5.52 
Forfeited— — — — 
Expired— — — — 
Outstanding as of March 31, 20264,259,930$5.80 7.8$75,087 4,328,974$5.80 7.8$76,326 
Exercisable as of March 31, 20264,259,930$5.80 7.8$75,087 4,328,974$5.80 7.8$76,326 

Restricted Stock Units (“RSUs”)

There were no RSU grants, vesting, or forfeitures during the three months ended March 31, 2026. As of March 31, 2026, there were 4,177,488 RSUs outstanding with a weighted-average grant-date fair value of $20.04 per unit and a weighted-average remaining service period of 2.5 years. No RSUs were issued or outstanding for the three months ended March 31, 2025.

During the three months ended March 31, 2026, the Company recognized $6,876 of share-based compensation expense related to RSUs, which is included in employee compensation and benefits expense in the condensed consolidated statements of income. As of March 31, 2026, unrecognized compensation cost related to unvested RSUs was $69,870, which is expected to be recognized over a weighted-average period of 2.5 years.