The Company is authorized to grant shares of restricted stock, restricted stock units (“RSUs”), stock appreciation rights, cash incentive awards and options to purchase shares of common stock to employees and non-employee directors pursuant to its 2015 Incentive Plan (the “2015 Plan”). The 2015 Plan also designates measures that may be used for performance awards and market-based awards.

During the three months ended June 30, 2026 the Company granted 1.1 million performance-based RSUs ("PSUs") to employees with a weighted-average grant date fair value of $0.52 per share. The PSUs are subject to three-year cliff vesting. Vesting is contingent upon continued service and market conditions that are met based on annual stock price growth goals.

During the three months ended June 30, 2026, the Company granted 1.6 million shares of restricted stock to employees with a weighted-average grant date fair value of $2.36 per share. The restricted stock awards generally vest ratably over 3 years.


	Three Months Ended				Six Months Ended
(in thousands)	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Stock-based compensation expense	$	2,333	$	(3,561)	$	4,615	$	607

During the three and six months ended June 30, 2025, the Company recognized a reversal of $6.6 million in previously recognized compensation expense, primarily due to the cancellation of annual incentive compensation.

As of June 30, 2026, there was $7.9 million of unrecognized stock-based compensation expense related to all unvested share-based payment awards that the Company expects to recognize over a weighted-average period of 2 years.