Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2026

The following table summarizes RSU equity award activity for the respective period presented:


	Number of Shares	Weighted Average Grant Date Fair Value per Share
Balance as of December 31, 2025	1,970,907	$12.17
Granted	1,427,841	15.53
Vested	(230,788)	19.84
Forfeited	—	—
Balance as of March 31, 2026	3,167,960	13.12
Granted	8,225	15.27
Vested	—	—
Forfeited	(18,404)	13.80
Balance as of June 30, 2026	3,157,781	$13.13

The following table summarizes PSU equity award activity for the period presented:


	Number of Shares	Weighted Average Grant Date Fair Value per Share
Balance as of December 31, 2025	1,306,690	$11.68
Granted	282,871	32.25
Vested	(286,992)	16.06
Forfeited	—	—
Balance as of March 31, 2026	1,302,569	$15.18
Granted	772	32.25
Vested	—	—
Forfeited	(3,580)	10.92
Balance as of June 30, 2026	1,299,761	$15.20

The fair value of the Company’s PSUs is determined using a Monte Carlo simulation model as of the grant date. This calculated fair

value is then expensed uniformly over the vesting period. For PSUs granted during the respective periods presented, the inputs to the

Monte Carlo model included the following:


	Six Months Ended
	June 30, 2026	June 30, 2025
Risk-free rate of interest	3.8%	3.8%
Volatility(a)	47%	42%
Correlation with comparator group range	0.002 - 0.47	0.14 - 0.33

(a)Volatility utilizes the historical volatility for the Company’s share price.

The following table presents the share-based compensation expense for the respective periods presented:


	Three Months Ended		Six Months Ended
(In thousands)	June 30, 2026	June 30, 2025	June 30, 2026	June 30, 2025
RSUs	$3,563	$1,663	$6,767	$2,717
PSUs	1,330	872	2,573	1,643
ESPP	13	17	40	17
Total share-based compensation expense	$4,906	$2,552	$9,380	$4,377