Compensation Related Costs, Share Based Payments |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-based Payment Arrangement | SHARE-BASED COMPENSATION The Company’s 2024 Omnibus Equity Incentive Plan is administered by the Board and allows for the grant of stock awards (“SAs”), restricted stock awards (“RSAs”), performance restricted stock units (“PRSUs”), restricted stock units (“RSUs”), stock options and other stock based awards. Share-Based Award Activity During the three months ended March 31, 2026, the Company granted SAs, RSUs, and PRSUs to executive officers; RSAs to non-employee members of the Board, and RSUs to employees. The SAs granted to the executive officers were 100% vested and non-forfeitable on the grant date. Non-vested stock awards are usually granted with a one-year vesting for non-employee directors, two-year cliff vesting for employee RSAs, and three-year cliff vesting for PRSUs. The fair value of all share awards were recorded as share-based compensation expense on the grant date and over the vesting period, respectively. The Company withheld 19,909 shares of common stock from executive officers at a total cost of $1.8 million, to satisfy statutory minimum tax requirements upon vesting of the awards. A summary of share-based awards activity during the three months ended March 31, 2026 is as follows:
Share-Based Compensation Expense Share-based compensation expense was $4.1 million and $8.1 million for the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, the estimated total remaining unamortized share-based compensation expense related to unvested RSAs and PRSUs, net of forfeitures, was $17.5 million which is expected to be recognized over a weighted-average period of 2.4 years.
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