| Stock-based Compensation A summary of stock option activity for the six months ended June 30, 2026 is as follows: | | | | | | | | | | | | | | | | | | | | | | Number
of Options | | Weighted-Average Exercise Price | | Weighted-Average Remaining Contractual Term (years) | | | Outstanding at December 31, 2025 | 1,318,479 | | $2.22 | | | 4.74 | | | Granted | 197,330 | | | | | | | | | | | | | Exercised during the period | (215,086) | | | | | | Expired during the period | (10,744) | | | | | | | Outstanding at June 30, 2026 | 1,289,979 | | $3.03 | | | 5.17 | | | Exercisable at June 30, 2026 | 1,092,649 | | $2.44 | | | 4.31 | |
A summary of restricted stock units (“RSU”) activity for the six months ended June 30, 2026 is as follows: | | | | | | | | | | | | | | | | Number
of RSUs | | Weighted Average Grant-Date Value | | | Outstanding unvested RSUs at December 31, 2025 | 3,096,724 | | $ | 2.66 | | | | Granted during the period | 1,016,770 | | 5.90 | | | | Forfeited during the period | (624,534) | | 2.19 | | | Vested during the period (1) | (554,230) | | 3.51 | | | | Outstanding unvested RSUs at June 30, 2026 | 2,934,730 | | $ | 3.83 | | |
(1) The issuance of Class A common stock was deferred, as elected by certain grantees, for 115,819 RSUs that vested during the six months ended June 30, 2026.
The following table lists the weighted average assumptions used under the Black-Scholes model for stock options granted during the six months ended June 30, 2026: | | | | | | | | | | | | | Six Months Ended June 30, 2026 | | | | Weighted average fair value of options at the measurement date (grant date) | | $ | 5.13 | | | | | Dividend yield (%) | | — | | | | | Expected volatility (%) | | 110 | % | | | | Risk-free interest rate (%) | | 4.29 | % | | | | Weighted average share price | | $ | 6.28 | | | | | | | | | | | | | | | | | | | | | | | |
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