v3.26.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2026
Restricted Stock and RSU Activity

RSU activity for the three months ended March 31, 2026 is summarized below.

Outstanding at

RSUs

 

 

Weighted-
Average
Grant Date
Fair Value

 

December 31, 2025

 

3,237,707

 

 

$

896.41

 

Granted

 

576,248

 

 

$

1,167.90

 

Converted

 

(565,132

)

 

$

812.02

 

Forfeited

 

(25,017

)

 

$

886.38

 

March 31, 2026

 

3,223,806

 

 

$

959.81

 

Stock Option Activity

Stock option activity and ending balance for the three months ended March 31, 2026 is summarized below.

 

2017 Performance-based
Options

 

 

2023 Performance-based
Options

 

 

2023 Time-based
Options

 

 

Shares
Under
Option

 

 

Weighted
Average
Exercise
Price

 

 

Shares
Under
Option

 

 

Weighted
Average
Exercise
Price

 

 

Shares
Under
Option

 

 

Weighted
Average
Exercise
Price

 

Outstanding at December 31, 2025

 

300,356

 

 

$

513.50

 

 

 

678,732

 

 

$

673.58

 

 

 

281,377

 

 

$

673.58

 

Exercised

 

(142,948

)

 

$

513.50

 

 

 

 

 

$

 

 

 

 

 

$

 

Outstanding at March 31, 2026

 

157,408

 

 

$

513.50

 

 

 

678,732

 

 

$

673.58

 

 

 

281,377

 

 

$

673.58

 

 

 

 

Options Outstanding

 

 

Options Exercisable

 

Option Type

 

Exercise Prices

 

 

Options Outstanding

 

 

Weighted Average Remaining Life (years)

 

 

Aggregate
Intrinsic
Value
(in millions)

 

 

Exercise Prices

 

 

Options
Exercisable

 

 

Weighted Average Remaining Life (years)

 

 

Aggregate
Intrinsic
Value
(in millions)

 

2017 Performance-based

 

$

513.50

 

 

 

157,408

 

 

 

0.7

 

 

$

71

 

 

$

513.50

 

 

 

157,408

 

 

 

0.7

 

 

$

71

 

2023 Performance-based

 

$

673.58

 

 

 

678,732

 

 

 

6.2

 

 

 

196

 

 

$

673.58

 

 

 

 

 

 

 

 

 

 

2023 Time-based

 

$

673.58

 

 

 

281,377

 

 

 

6.2

 

 

 

81

 

 

$

673.58

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,117,517

 

 

 

5.4

 

 

$

348

 

 

 

 

 

 

157,408

 

 

 

0.7

 

 

$

71

 

Performance-Based RSUs [Member]  
Restricted Stock and RSU Activity

Performance-based RSU activity for the three months ended March 31, 2026 is summarized below.

Outstanding at

Performance-
Based RSUs

 

 

Weighted-
Average
Grant Date
Fair Value

 

 

Performance-
Based RSUs in Connection with the GIP Transaction

 

 

Weighted-
Average
Grant Date
Fair Value

 

 

Total Performance-
Based RSUs

 

 

Weighted-
Average
Grant Date
Fair Value

 

December 31, 2025

 

478,236

 

 

$

848.08

 

 

 

199,744

 

 

$

845.89

 

 

 

677,980

 

 

$

847.43

 

Granted

 

137,429

 

 

$

1,170.18

 

 

 

 

 

$

 

 

 

137,429

 

 

$

1,170.18

 

Additional shares due to
   attainment of performance
   measures

 

24,996

 

 

$

743.60

 

 

 

 

 

$

 

 

 

24,996

 

 

$

743.60

 

Converted

 

(175,588

)

 

$

743.60

 

 

 

 

 

$

 

 

 

(175,588

)

 

$

743.60

 

Forfeited

 

(2,218

)

 

$

874.86

 

 

 

 

 

$

 

 

 

(2,218

)

 

$

874.86

 

March 31, 2026

 

462,855

 

 

$

977.58

 

 

 

199,744

 

 

$

845.89

 

 

 

662,599

 

 

$

937.88