Equity-based compensation expense under the Holdings 2013 Omnibus Incentive Plan (the “2013 Incentive Plan”) as well as the Holdings 2023 Omnibus Incentive Plan (the “2023 Incentive Plan” and, together with the 2013 Incentive Plan, the “Incentive Plans”), is as follows (in thousands): | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Expense from time-based awards | | $ | 2,439 | | $ | 2,129 | | $ | 5,318 | | $ | 6,050 | Expense from performance-based awards (a) | | | 572 | | | 620 | | | 1,774 | | | 2,035 | Expense from bonus to be settled in shares (b) | | | 951 | | | 219 | | | 2,186 | | | 1,229 | Equity-based compensation expense | | $ | 3,962 | | $ | 2,968 | | $ | 9,278 | | $ | 9,314 |
| (a) | Expense recognized for performance-based awards is re-assessed each quarter based on expectations of achievement against the performance conditions. |
| (b) | A portion of the annual corporate bonus earned is to be settled in shares. These amounts are recognized as “Accrued liabilities” in the accompanying Condensed Consolidated Balance Sheets and are not included in “Additional paid-in capital” until the shares are issued. |
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