v3.26.1
STOCK-BASED COMPENSATION
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION

6. STOCK-BASED COMPENSATION

The share-based compensation expense for the three months ended June 30, 2026 and 2025 was $2.5 million and $2.1 million, respectively, which is included as a component of salaries, benefits and payroll taxes in the accompanying condensed consolidated statements of operations.

The share-based compensation expense for the six months ended June 30, 2026 and 2025 was $5.0 million and $5.7 million, respectively, and is included as a component of salaries, benefits and payroll taxes in the accompanying condensed consolidated statements of operations.

 

The expense for the three and six months ended June 30, 2025 included $1.4 million of incremental expense related to the accelerated vesting of certain restricted stock units (“RSUs”) and performance stock units (“PSUs”) in connection with a previously announced executive departure in March 2025.

 

The following is a summary of restricted share units (RSUs) activity for the six months ended June 30, 2026:

 

RSUs Activity

 

Number of Awards

 

 

Weighted-Average Grant Date Fair Value

 

 

 

 

 

 

 

 

Non-vested share units as of December 31, 2025

 

 

543,449

 

 

$

20.02

 

Forfeited

 

 

(2,492

)

 

 

18.73

 

Non-vested share units as of June 30, 2026

 

 

540,957

 

 

$

20.03

 

 

The following is a summary of performance share units (PSUs) activity for the six months ended June 30, 2026:

 

PSUs Activity

 

Number of Performance-Based Awards

 

 

Weighted-Average Grant Date Fair Value

 

 

 

 

 

 

 

 

Non-vested share units as of December 31, 2025

 

 

532,642

 

 

$

18.49

 

Granted (1)

 

 

3,868

 

 

 

19.50

 

Vested

 

 

(63,568

)

 

 

19.50

 

Forfeited

 

 

(2,493

)

 

 

18.73

 

Non-vested share units as of June 30, 2026

 

 

470,449

 

 

$

18.36

 

 

(1) The amount shown represents performance adjustments for performance-based awards granted in prior fiscal years and vested during the first quarter of 2026 based on the Company’s achievement of the performance conditions.