Stock-Based Compensation — As of June 30, 2026, we maintained the Amended and Restated 2024 Omnibus Equity Incentive Plan (the “A&R 2024 Plan”). The A&R 2024 Plan provides for the grant of both equity and cash awards, including non-qualified stock options, incentive stock options, stock appreciation rights, performance awards (shares and units), restricted stock, restricted stock units (“RSUs”), deferred share units and other stock-based awards and dividend equivalents to eligible employees, directors and consultants, as determined by the Compensation Committee of our Board of Directors. See Note 14, “Stock-Based Compensation and Retirement Plans,” in our 2025 10-K for further information regarding the 2024 Plan. The majority of our equity grants are awarded on an annual basis.

Additionally, in connection with the Company’s acquisition of Satcom Direct on December 3, 2024, 2,275,000 shares were granted, consisting of a combination of RSUs and performance-based restricted stock units (“PSUs”) (together, the “Inducement Awards”) by the Compensation Committee. The RSUs will vest in equal annual installments over the five-year period following the grant date. The PSUs are subject to performance-based vesting and will vest when the performance-based vesting conditions are met. Though not awarded pursuant to the 2024 Plan, the Inducement Awards have been issued subject to the terms and conditions of the 2024 Plan.

For the six-month period ended June 30, 2026, no options to purchase shares of common stock were granted, options to purchase 59,791 shares of common stock were exercised, no options to purchase shares of common stock were forfeited and 140,546 options to purchase shares of common stock expired.

For the six-month period ended June 30, 2026, 1,827,850 RSUs were granted, 1,031,144 RSUs vested and 212,602 RSUs were forfeited. The fair value of the RSUs granted during the six-month period ended June 30, 2026 was approximately $8.5 million, which will generally be recognized over a period of four years.

For the six-month period ended June 30, 2026, 232,809 deferred stock units were granted, 131,447 vested and none were forfeited. The fair value of the deferred stock units granted during the six-month period ended June 30, 2026 was approximately $0.8 million, which will generally be recognized in 2026.

For the six-month period ended June 30, 2026, 93,043 shares of common stock were issued under the Employee Stock Purchase Plan.

The following is a summary of our stock-based compensation expense by operating expense line in the Unaudited Condensed Consolidated Statements of Operations (in thousands):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2026		2025		2026		2025
Cost of service revenue	$	387	$	407	$	786	$	842
Cost of equipment revenue		326		227		661		540
Engineering, design and development		675		760		1,465		1,665
Sales and marketing		708		603		1,505		1,361
General and administrative		3,141		4,370		5,653		7,450
Total stock-based compensation expense	$	5,237	$	6,367	$	10,070	$	11,858

Retirement Plans — We have a 401(k) plan for U.S.-based employees, as well as various defined contribution plans for international employees. Eligible U.S. employees may make tax-deferred contributions under the 401(k) plan, subject to Internal Revenue Service limitations. We match contributions towards the 401(k) plan and international defined contribution plans, subject to

annual limitations. Our matching contributions were $0.8 million and $1.6 million, respectively, during the three- and six-month periods ended June 30, 2026, and $1.1 million and $2.1 million, respectively, during the prior-year periods.