v3.26.1
Unit-Based Compensation
 3 Months Ended
Mar. 31, 2026
Boost Run Holdings LLC [Member]  
Restructuring Cost and Reserve [Line Items]  
Unit-Based Compensation

Note 12. Unit-Based Compensation

 

Pursuant to the Amended and Restated Limited Liability Company Agreement dated August 2025 to provide appropriate equity-based incentives to key employees, the Company issued Profit Interest Units to individuals in exchange for services rendered to or on behalf of the Company. These units, once granted, are generally subject to vesting conditions, which may vary by individual.

 

Profit Interest Units do not require any capital contribution and entitle holders to share in the future appreciation of the Company’s fair market value through distributions. A Profit Interest Unit becomes eligible for distributions only if: (i) the unit is vested as of the distribution date, and (ii) the total distribution amount exceeds a threshold (or “Participation Threshold”) amount established by the Board on the date of grant. Holders of Profit Interest Units, however, have no voting rights with respect to such units on matters concerning the Company’s business or affairs.

 

The Profit Interest Units are accounted for as unit-based compensation in accordance with ASC 718, Compensation – Stock Compensation. These units generally vest over two years and do not have a contractual expiration date. The Profit Interest Units are subject to forfeiture until the service-based vesting requirement is satisfied through continued employment or service with the Company.

 

 

The following is a summary of the Profit Interest Unit activity for the three months ended March 31, 2026:

 

   Profit Interest Units   Weighted Average Profit Interest Unit Participation Threshold 
Unvested balance as of December 31, 2025   4,023   $1,322 
Granted   -    - 
Vested   (743)   1,291 
Forfeited   -    - 
Unvested balance as of March 31, 2026   3,280   $1,330 
Vested balance as of March 31, 2026   870   $1,746 

 

During the three months ended March 31, 2026 and 2025, the Company recorded unit-based compensation expense of $198 and $202, respectively related to the Class B Units. As of March 31, 2026, unamortized stock-based compensation related to the unvested Class B Units totaled $51, which is expected to be recognized over a weighted-average period of 0.19 years.