v3.26.1
SHARE-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Class A and Class C Shares Activities
The table below summarizes Class A Share and Class C Share activities for the six months ended June 30, 2026:
Number of Shares
Weighted Avg Grant-Date Fair Market Value Per Unit
Outstanding and unvested shares at December 31, 2025
3,040,628 $28.58 
Vested(1)
2,860,801 31.18 
Outstanding and unvested shares at June 30, 2026(2)
179,827 $— 
(1)Represented vesting of 2,535,235 shares of Class A Shares and 325,566 shares of Class C Shares. All the vested shares were issued and outstanding and held in escrow upon the closing of the Altus Merger in 2022.
(2)Represented Class A shares that were issued in connection with the closing of the Altus Merger in 2022, which had zero grant date fair value as the vesting of such shares was contingent upon the sale of the Company’s Class A Common Stock by a certain third party. The likelihood and timing of this event could not be reasonably estimated as of June 30, 2026. If there is no additional sale of the Company’s Class A Common Stock made by the certain third party, all outstanding unvested shares will vest on February 25, 2028.
Schedule of Aggregate Intrinsic Value (Market Value At Vesting Date)
The table below summarizes aggregate intrinsic value (market value at vesting date) and grant-date fair value of vested Class A Shares and Class C Shares for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(In thousands)
Aggregate intrinsic value of vested Class A Shares and Class C Shares
$766 $— $134,500 $134,139 
Grant-date fair value of vested Class A Shares and Class C Shares
$480 $— $89,185 $73,545 
Schedule of Nonvested Restricted Stock Shares Activity
The table below summarizes RSU activities for the six months ended June 30, 2026:
Number of Shares
Weighted Avg Grant-Date Fair Market Value Per Unit
Outstanding and unvested shares at December 31, 2025
931,507 $40.98 
Granted
786,317 44.81 
Vested
727,675 38.87 
Forfeited
15,228 45.17 
Outstanding and unvested shares at June 30, 2026
974,921 $44.13 
Schedule of Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
The table below summarizes aggregate intrinsic value (market value at vesting date) and grant-date fair value of RSUs for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(In thousands)
Aggregate intrinsic value of vested RSUs$1,097 $790 $29,047 $14,108 
Grant-date fair value of vested RSUs$1,068 $788 $28,283 $12,597 
Schedule of Share-Based Payment Arrangement, Performance Shares, Activity
The table below summarizes PSU activities for the six months ended June 30, 2026:
Number of Shares
Weighted Avg Grant-Date Fair Market Value Per Unit
Outstanding and unvested shares at December 31, 2025347,497 $41.41 
Granted 171,756 56.27 
Outstanding and unvested shares at June 30, 2026
519,253 $46.32 
Schedule of Share-Based Payment Award, Other Than Options, Valuation Assumptions
The table below presents a summary of the grant-date fair value assumptions used to value the PSUs granted during 2026:
February 2026
Grant-date fair value per unit$45.56
Beginning average price$35.34
Risk-free interest rate3.44%
Volatility factor34%
Expected term2.86 years