v3.26.1
Stock-Based Awards (Tables)
3 Months Ended
Mar. 31, 2026
Stock-Based Awards [Abstract]  
Schedule of Unrecognized Stock-Based Compensation Expense and Average Remaining Vesting Period

A summary of unrecognized stock-based compensation expense and average remaining vesting period is as follows:

    March 31, 2026
   

Unrecognized 

Stock-Based
Compensation

 

Weighted-Average

Remaining Vesting 

Period (Years)

Employees and directors   $ 37,647       1.75  
Schedule of Stock-Based Compensation Award Activity

A summary of stock-based compensation award activity (shares) during the three months ended March 31, 2026 is as follows:

    RSA   RSU   PRSU
Balance at January 1, 2026     4,372,897       279,549       1,427,859  
Granted     1,012,575       73,115       254,042 (1)
Vested     (2,209,591 )     (69,169 )     (601,468 )(2) 
Forfeited     (31,834 )            
Stock dividends accrued           255       1,537  
Balance at March 31, 2026     3,144,047       283,750 (3)      1,081,970  
(1) Represents the target number of PRSUs granted and outstanding. The number of PRSUs that ultimately vest ranges from 0% to 200% of this amount. A Monte-Carlo simulation was used to value these awards using the following assumptions for the Company and the peer group: (i) beginning 90-day average stock prices; (ii) valuation date stock prices; (iii) historical stock price volatilities ranging from 21.84% to 34.34% (average 28.77%); (iv) correlation coefficients based upon the price data used to calculate the historical volatilities; (v) a risk free interest rate of 3.64%; and (vi) an expected dividend yield of 0.00%.
(2) The payout on PRSUs vesting in January 2026 was 199%.
(3) Includes 99,785 deferred RSUs that have vested.