Share-Based Compensation |
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| Share-Based Payment Arrangement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Compensation | NOTE 9 — Share-Based Compensation The 2023 Omnibus Incentive Plan reserved 20,468,545 shares of Class A Common Stock for issuance as equity awards. The quantity of shares of Class A Common Stock reserved for grants under the 2023 Omnibus Incentive Plan will be subject to an annual increase on the first day of each calendar year beginning January 1, 2024, and ending and including January 1, 2033, equal to the lesser of (i) 5% of the aggregate number of shares outstanding on December 31 of the immediately preceding calendar year and (ii) any such smaller number of shares as is determined by the Board. The following table presents the aggregate share-based compensation expense, net of forfeitures, for the following periods:
During the three months ended March 31, 2026, the Company modified certain unvested restricted stock units and unvested stock options to accelerate vesting in connection with employee terminations, which would have otherwise been forfeited upon separation (refer to Note 13 — One-time Employee Termination Costs). The Company determined the acceleration of the unvested awards constituted a Type III modification, as defined in ASC Topic 718, Share-Based Payments (“ASC 718”), as the expectation of the awards vesting changed from improbable to probable, resulting in a new measurement of compensation expense. During the three months ended March 31, 2026, the Company recognized additional share-based compensation expense of $1.2 million related to the accelerated vesting of awards as a result of employee terminations. Restricted Stock Units As of March 31, 2026, there was $2.8 million of unrecognized share-based compensation expense related to unvested restricted stock units (“RSUs”), which the Company expects to recognize over a weighted-average period of 1.4 years. The following table presents a summary of RSU activity during the three months ended March 31, 2026:
Performance Stock Units As of March 31, 2026, there was $0.3 million of unrecognized share-based compensation expense related to unvested performance stock units (“PSUs”), which the Company expects to be recognized over a weighted-average period of 1.8 years. The following table presents a summary of PSU activity as of March 31, 2026 and the changes during the three months ended March 31, 2026:
Stock Options As of March 31, 2026, there was $0.7 million of unrecognized share-based compensation expense related to stock options, which the Company expects to be recognized in the second quarter of 2026. Refer to Note 12 — Related Party Transactions for information related to the BHES JDA.
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