10.
Stock-Based Compensation
A
summary of the Company’s Restricted Stock Unit (“RSU”) activity during the six months ended June 30, 2026 is as follows:
Schedule
of Restricted Stock Unit Activity
| | |
Number
of Shares | |
| | |
| |
| Unvested Outstanding at January
1, 2026 | |
| 975,381 | |
| Granted (1) | |
| 847,948 | |
| Forfeited | |
| (54,668 | ) |
| Vested | |
| (138,485 | ) |
| Unvested Outstanding
at June 30, 2026 | |
| 1,630,176 | |
| (1) |
The
amount shown as “granted” includes 316,775
performance-based target RSUs for 2026 as to which the number that ultimately vests would range from 0%
to 100%
of the target amount of RSUs (based on attainment of Adjusted EBITDA targets for 2026). The amount shown also includes tranches
covering an aggregate of 104,167
Adjusted EBITDA RSUs, approved in 2023 but which were subject to performance criteria for 2026. The
accounting grant date for the 2026 tranches did not occur until the targets were set in February 2026. |
The
Company issued a total of 189,076 shares during the six months ended June 30, 2026, in connection with the Company’s equity-based
plans, which primarily reflected the net settlement of RSUs that vested on December 31, 2025.
|