STOCKHOLDERS' DEFICIT (Tables)

3 Months Ended

Mar. 31, 2026

STOCKHOLDERS' DEFICIT

Schedule of Stockholder's Deficit


		Three Months Ended
(In millions)		March 31, 2026			March 31, 2025
Shares issued through at-the-market offering			55.2			17.1
At-the-market offering gross proceeds		$	64.7		$	63.0
Sales agent fees paid		$	1.3		$	0.6
Other third-party issuance costs incurred		$	0.6		$	0.3
Other third-party issuance costs paid		$	—		$	1.5



										Accumulated
		Class A					Additional			Other						Total
		Common Stock					Paid-in			Comprehensive			Accumulated			Stockholders’
(In millions, except share data)		Shares		Amount			Capital			Loss			Deficit			Deficit
Balances December 31, 2025		512,943,561		$	5.1		$	7,121.5		$	(42.2)		$	(8,979.2)		$	(1,894.8)
Net loss		—			—			—			—			(117.1)			(117.1)
Other comprehensive loss		—			—			—			(15.5)			—			(15.5)
Taxes paid for restricted unit withholdings		—			—			(3.7)			—			—			(3.7)
Consent fees paid in shares		33,117,743			0.3			34.2			—			—			34.5
Share issued through at-the-market offerings		55,224,032			0.6			62.2			—			—			62.8
Stock-based compensation (1)		3,937,759			0.1			7.2			—			—			7.3
Balances March 31, 2026		605,223,095		$	6.1		$	7,221.4		$	(57.7)		$	(9,096.3)		$	(1,926.5)

(1)

Includes 869,571 Common Stock shares awarded to the board of directors, and 3,068,188 vested Common Stock RSUs and PSUs.



										Accumulated
		Class A					Additional			Other						Total
		Common Stock					Paid-in			Comprehensive			Accumulated			Stockholders’
(In millions, except share data)		Shares		Amount			Capital			Loss			Deficit			Deficit
Balances December 31, 2024		414,417,797		$	4.1		$	6,714.2		$	(132.0)		$	(8,346.8)		$	(1,760.5)
Net loss		—			—			—			—			(202.1)			(202.1)
Other comprehensive income		—			—			—			52.7			—			52.7
Taxes paid for restricted unit withholdings		—			—			(4.4)			—			—			(4.4)
Shares issued and proceeds received through at-the-market offerings and forward agreements		17,052,756			0.2			170.6			—			—			170.8
Stock-based compensation (1)		1,673,008			—			5.7			—			—			5.7
Balances March 31, 2025		433,143,561		$	4.3		$	6,886.1		$	(79.3)		$	(8,548.9)		$	(1,737.8)

(1)

Includes 370,586 Common Stock shares awarded to the board of directors and 1,302,422 vested Common Stock RSUs and PSUs.

Summary of stock based compensation


		Three Months Ended
		March 31,			March 31,
(In millions)		2026			2025
Special awards expense		$	4.6		$	1.0
Board of director stock award expense			1.1			1.3
Restricted stock unit expense			1.4			2.6
Performance stock unit expense			0.2			0.8
Total stock-based compensation expense		$	7.3		$	5.7

Schedule of Nonvested RSU and PSU Activity


		RSUs					PSUs
				Weighted					Weighted
				Average					Average
		Number of		Grant Date			Number of		Grant Date
		RSUs		Fair Value			PSUs		Fair Value
Nonvested at December 31, 2025		4,573,078		$	4.73		324,969		$	3.57
Granted (1)		—			—		1,783,588			1.22
Granted - Special Award		—			—		3,778,642			1.22
Vested		(942,900)			5.82		(119,307)			3.57
Vested - Special Award		—			—		(2,005,981)			1.22
Cancelled (2)		(882,087)			5.95		(97,339)			3.57
Cancelled - Special Award (2)		—			—		(1,772,661)			1.22
Nonvested at March 31, 2026		2,748,091			3.96		1,891,911			1.35
Tranche Year 2027 awarded under the 2025 PSU award with grant date fair values to be determined in year 2027		—					1,217,082
Total nonvested at March 31, 2026		2,748,091					3,108,993

(1)

The number of PSUs granted under the 2026 Tranche Year assumes the Company will attain 100% for the Adjusted EBITDA performance target and 100% for the free cash flow performance target.

(2)

Represents vested RSUs and PSUs surrendered in lieu of taxes. As a result, the Company paid taxes for restricted unit withholdings of approximately $3.7 million during the three months ended March 31, 2026.