v3.26.1
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of The Activity of Restricted Stock And RSUs Granted By The Company

Following is the activity of restricted stock and RSUs granted by the Company:

 

 

Shares

 

 

Weighted-Average
Grant Date Fair
Value

 

Non-vested as of January 1, 2026

 

 

19,320,297

 

 

$

13.75

 

Granted (1)

 

 

2,263,844

 

 

$

19.12

 

Vested (2)

 

 

(8,999,410

)

 

$

11.41

 

Forfeited (3)

 

 

(553,402

)

 

$

15.95

 

Non-vested as of June 30, 2026 (4)

 

 

12,031,329

 

 

$

16.41

 

 

 

(1)
During the six months ended June 30, 2026, the Company granted 2,923 shares of restricted stock and 2,260,921 RSUs to its employees, advisors and non-employee directors.
(2)
During the six months ended June 30, 2026, 7,072,368 shares of restricted stock and 1,927,042 RSUs vested.
(3)
During the six months ended June 30, 2026, 63,664 shares of restricted stock and 489,738 RSUs were forfeited.
(4)
Includes 1,996,431 unvested shares of Class A restricted stock, no unvested shares of Class B restricted stock and 10,034,898 unvested RSUs, each as of June 30, 2026.
Summary of Transaction under the Plans and the 2021 Plan

Following is the summary of transactions under the Plans and the 2021 Plan:

 

 

Number of
options

 

 

Weighted-
average
exercise
price

 

 

Weighted-
average
remaining
contractual
life (years)

 

 

Aggregate
intrinsic
value (per share)

 

Outstanding options as of January 1, 2026

 

 

15,633,746

 

 

$

13.17

 

 

 

9.18

 

 

$

4.04

 

Granted

 

 

825,500

 

 

$

17.41

 

 

 

—

 

 

$

—

 

Exercised

 

 

(747,742

)

 

$

10.83

 

 

 

—

 

 

$

—

 

Forfeited

 

 

(622,877

)

 

$

13.61

 

 

 

—

 

 

$

—

 

Outstanding options as of June 30, 2026

 

 

15,088,627

 

 

$

13.50

 

 

 

8.78

 

 

$

5.14

 

 
Summary of Performance Stock Unit Award Activity

The following is a summary of PSUs not subject to market conditions under the Company’s 2021 Plan:

 

 

Number of
PSUs

 

 

Weighted Average
Grant Date Fair
Value

 

Outstanding PSUs as of January 1, 2026

 

 

849,183

 

 

$

27.68

 

Granted

 

 

10,756,758

 

 

$

16.95

 

Vested and Issued

 

 

(94,353

)

 

$

27.68

 

Forfeited

 

 

—

 

 

$

—

 

Outstanding PSUs as of June 30, 2026

 

 

11,511,588

 

 

$

17.65

 

 

Of the total PSUs not subject to market conditions granted by the Company, the Company determined that 283,061 PSUs were earned through June 30, 2026, of which 188,708 earned PSUs remained unissued.

The following is a summary of PSUs subject to market conditions under the Company’s 2021 Plan:

 

 

 

Number of
PSUs

 

 

Weighted Average
Grant Date Fair
Value

 

Outstanding PSUs as of January 1, 2026

 

 

5,656,459

 

 

$

16.02

 

Granted

 

 

—

 

 

$

—

 

Vested and Issued

 

 

(1,552,641

)

 

$

16.85

 

Forfeited

 

 

(27,464

)

 

$

20.79

 

Outstanding PSUs as of June 30, 2026

 

 

4,076,354

 

 

$

15.67

 
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

 

 

As of June 30, 2026

 

Dividend yield

 

 

0.0

%

Risk free interest rate

 

 

3.8

%

Volatility

 

 

79.0

%

 
Stock Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share Based Compensation Stock Options Valuation Assumptions

 

 

As of June 30, 2026

 

Dividend yield

 

0.0%

 

Volatility

 

57.1% - 58.6%

 

Expected Term (years)

 

 

6.1

 

Risk free rate of interest

 

3.9% - 4.2%