v3.26.1
Equity-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Valuation Assumptions
Fair value of PSUs, including dividend equivalent rights, was determined using a Monte Carlo simulation, with the following assumptions.
2026 Grant2025 Grant2024 Grant
Expected volatility(1)
30.5 %35.7 %35.6 %
Risk free rate(2)
4.0 %4.0 %4.3 %
Expected dividend yield(3)
— — — 
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(1)Based upon the Company’s historical stock volatility.
(2)Based upon the continuously compounded zero-coupon U.S. Treasury yield for the term coinciding with the measurement period of the award as of valuation date.
(3)Based upon award holders being entitled to dividends paid during the measurement period on any shares earned.
Summary of Awards Granted or Vested
The table below summarizes the Company’s awards granted, forfeited or vested under the 2022 Plan during the six months ended June 30, 2026 and 2025:
Number of Shares Weighted Average Grant Date Fair Value
Restricted StockPSUsTotalRestricted StockPSUs
Unvested shares at December 31, 20242,742,917 918,434 3,661,351 $6.92 $8.60 
Granted1,618,509 542,789 2,161,298 5.97 6.78 
Vested (1,428,999)— (1,428,999)7.21 — 
Unvested shares at March 31, 20252,932,427 1,461,223 4,393,650 6.25 7.93 
Granted92,940 — 92,940 5.27 — 
Vested(79,495)— (79,495)5.27 — 
Unvested shares at June 30, 20252,945,872 1,461,223 4,407,095 6.25 7.93 
Unvested shares at December 31, 20252,865,399 1,461,223 4,326,622 $6.27 $7.93 
Granted1,907,157 588,839 2,495,996 5.61 7.08 
Vested(1,222,270)(384,378)(1,606,648)6.50 9.69 
Unvested shares at March 31, 20263,550,286 1,665,684 5,215,970 5.83 7.22 
Granted88,340 — 88,340 5.70 — 
Vested(92,940)— (92,940)5.38 — 
Unvested shares at June 30, 20263,545,686 1,665,684 5,211,370 5.84 7.22