v3.26.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of RSU Activity
The following table provides a summary of RSU activities during the three months ended March 31, 2026:
Number of RSUsWeighted Average Grant-Date Fair Value
Granted and unvested at December 31, 20251,027,728 $23.62 
Granted
621,292 24.56 
Vested
(86,275)31.01 
Forfeited
(17,187)24.75 
Granted and unvested at March 31, 20261,545,558 $23.58 
Schedule Of PSUs Earned Activity The number of PSUs earned, which range from 0 - 125% of the PSUs granted, are based on the achievement of certain compounded annual growth rate milestones of BSHI’s common stock compared to the grant price per share, disclosed below, for any 20 business day period between the second and third anniversaries of the grant date.
Grant Date
Number of PSUs
Grant Date Fair ValueGrant Price
May 22, 2024129,411 $10.04 $17.00 
February 21, 202567,526 16.09 32.58 
February 19, 202688,566 16.56 24.84 
Schedule of PSU Activity
The following table provides a summary of PSU activity during the three months ended March 31, 2026:
Number of PSUs
Weighted Average Grant-Date Fair Value
Granted and unvested at December 31, 2025196,937 $12.11 
Granted88,566 16.56 
Vested— — 
Forfeited— — 
Granted and unvested at March 31, 2026285,503 $13.49 
Schedule of Valuation Assumptions
The following table summarizes the significant inputs used in the Monte Carlo simulation model to determine the grant-date fair value of the PSUs awarded:

May 22, 2024February 21, 2025February 19, 2026
Expected term (in years)
3.03.03.0
Expected volatility
27.0%27.0%36.0%
Expected dividend yield
—%—%—%
Risk-free interest rate
4.6%4.2%3.5%
Schedule of Share Based Payment Award Warrants Valuation Assumptions
The following table summarizes the significant inputs used in the Black-Scholes-Merton pricing models to determine the grant-date fair value of the Warrants issued:
Initial Warrants
Overallotment Warrants
Expected term (in years)
10.010.0
Expected volatility
34.0%34.0%
Expected dividend yield
—%—%
Risk-free interest rate
4.4%4.5%