For the three months ended March 31, 2026, the Company has recognized $133,980 in share-based compensation expense, which is included within general and administrative expenses within the unaudited condensed consolidated statement of operations. For the three months ended March 31, 2026, the Company capitalized $31,118 of share-based compensation expense, which is included within property, plant, and equipment, net, on the unaudited condensed consolidated balance sheet. As of March 31, 2026, total unrecognized compensation cost related to unvested awards, including awards with performance conditions that were deemed probable to vest at the end of their respective performance period, was $274,983, and is expected to be recognized over the weighted-average requisite service period of 1.49 years.


Three Months Ended March 31, 2026	Service-based Awards	Weight-Average Grant Date FV (Service)		Performance- based Awards	Weight-Average Grant Date FV (Performance)
Balance at December 31, 2025	12,585,290	$	4.97	27,326,780	$	20.39
Granted	688,820	$	10.85	—	—
Released	—	$	—	—	—
Forfeited	(292,670)	$	13.03	(90,000)	21.00
Balance at March 31, 2026	12,981,440	$	5.10	27,236,780	$	20.39