v3.26.1
SHARE-BASED COMPENSATION
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION 
The fair value of options, restricted stock units, deferred stock units, performance-based restricted stock units, and employee stock purchase rights awarded during the three months ended March 31, 2026, totaled $79.0 million, compared to $64.8 million for the three months ended March 31, 2025. The total unrecognized compensation expense, net of estimated forfeitures, for unvested share-based compensation awards outstanding as of March 31, 2026, was $120.4 million, which will be recognized over a weighted average period of approximately 1.9 years. During the three months ended March 31, 2026, we recognized share-based compensation expenses of $16.3 million, compared to $14.6 million for the three months ended March 31, 2025.

We determine the assumptions used in the valuation of option awards as of the date of grant. Differences in the expected stock price volatility, expected term, or risk-free interest rate may necessitate distinct valuation assumptions at those grant dates. As such, we may use different assumptions for options granted throughout the year. Option awards are granted with an exercise price equal to or greater than the closing market price of our common stock at the date of grant. We have never paid any cash dividends on our common stock, and we have no intention to pay such a dividend at this time; therefore, we assume that no dividends will be paid over the expected terms of option awards.