The following table presents the share-based compensation expense by award type recognized within the following line items in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) and Condensed Consolidated Balance Sheet in the periods presented:


	Three Months Ended March 31,
	2026		2025
Restricted stock units	$	19,227	$	23,536
Stock options	896		2,274
Performance restricted stock units	(296)		(81)
Employee Stock Purchase Plan	190		186

Share-based compensation recorded within Compensation and benefits	20,017		25,915

Property and equipment (capitalized internal-use software)	2,606		2,522
Total share-based compensation expense	$	22,623	$	28,437

A summary of the Company's restricted stock units (RSUs) and performance-based restricted stock units (PSUs) activity under the Plans was as follows:


	Number of Units	Weighted- average grant date fair value per share
Balance as of December 31, 2025	29,086	$	4.88
Granted	20,944	$	3.98
Vested	(5,106)	$	4.94
Forfeited	(3,979)	$	4.47
Balance as of March 31, 2026	40,945	$	4.45

As of March 31, 2026, unrecognized compensation expense related to unvested RSUs and PSUs was $166.6 million. These costs are expected to be recognized over a weighted-average period of 2.2 years.


	Number of Options	Weighted- Average Exercise Price per Share		Weighted - Average remaining Contractual Life (Years)	Aggregate Intrinsic Value (1)
Balance as of December 31, 2025	8,197	$	6.86	5.73	$	7,321
Granted	—	—
Exercised	(33)	1.52
Forfeited	—	—
Balance as of March 31, 2026	8,164	$	6.88	5.48	$	4,989
Exercisable as of March 31, 2026 (2)	7,751	$	6.96	5.40	$	4,987
Vested as of March 31, 2026	7,751	$	6.96	5.40	$	4,987

(1) Intrinsic value is calculated based on the difference between the exercise price of in-the-money-stock options and the fair value of the common stock as of the respective balance sheet dates.

(2) The 2011 Plan allows for early exercise of stock options. Accordingly, options granted under this plan are included as exercisable stock options regardless of vesting status.

As of March 31, 2026, aggregate unrecognized compensation expense related to unvested outstanding stock options was $1.4 million. These costs are expected to be recognized over a weighted-average period of 0.8 years.