Restructuring charges were $0.7 million for the three months ended March 31, 2026, which included $3.4 million of severance-related expenses and $1.0 million of rent and related expenses, net of sublease income, for our previously vacated office spaces, largely offset by a $3.8 million non-cash gain on lease modification. In the first quarter of 2026, we entered into the Seventh Amendment to the office lease agreement for our principal executive offices in Chicago, Illinois, which, among other items, provides for the early termination of the lease with respect to certain leased spaces previously vacated. See Note 14 “Commitments, Contingencies and Guarantees” within the notes to our consolidated financial statement for additional information on the Seventh Amendment to the Chicago, Illinois office lease.

Restructuring charges were $1.3 million for the three months ended March 31, 2025, which included a $0.7 million non-cash lease impairment charge driven by updated sublease assumptions for a previously vacated office space and $0.6 million of rent and related expenses, net of sublease income, for our previously vacated office spaces.

The table below sets forth the changes in the carrying value of our restructuring charge liability by restructuring type for the three months ended March 31, 2026.


	Employee Costs		Other		Total
Balance as of December 31, 2025	$	1,914	$	636	$	2,550
Additions (1)	2,801		4		2,805
Payments	(3,477)		(154)		(3,631)
Adjustments (1)	(38)		48		10
Balance as of March 31, 2026	$	1,200	$	534	$	1,734

(1) Additions and adjustments exclude non-cash items related to employee costs, such as share-based compensation expense recognized upon the modification of equity awards to accelerate vesting upon termination, and non-cash items related to vacated office spaces,

such as lease impairment charges, accelerated depreciation on abandoned operating lease ROU assets and fixed assets and non-cash gains on lease modifications, all of which are recorded as restructuring charges on our consolidated statements of operations.

All of the $1.2 million restructuring charge liability related to employee costs as of March 31, 2026 is expected to be paid in the next 12 months. All of the $0.5 million other restructuring charge liability at March 31, 2026, which relates to the early termination of a contract in a prior period, is expected to be paid in the next 12 months. The employee costs and other restructuring charge liabilities are included as components of accrued payroll and related benefits and accrued expenses and other current liabilities in our consolidated balance sheet, respectively.