Stock-Based Compensation	6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	15. Stock-Based Compensation Equity compensation awards may be granted to certain eligible employees or non-employee directors. A detailed description of the awards granted prior to 2026 is included in the Company’s 2025 Annual Report on Form 10-K. The Company grants certain share-based payment awards that are classified as liabilities in accordance with ASC Topic 718, “Compensation—Stock Compensation.” These awards include cash-settled restricted stock units which vest in three annual increments over a three-year period and cash-settled performance share units which vest after three years and are earned based on the extent to which performance goals are met over the applicable performance period. Liability-classified awards are measured at fair value at each reporting date until settlement. The fair value of these awards is determined using the closing stock price at the end of the reporting period, and is remeasured at each balance sheet date. Changes in fair value are recognized as compensation expense in engineering, selling, and administrative expenses in the Condensed Consolidated Statements of Operations over the requisite service period. During the year ended December 31, 2025, the Company modified certain 2023 and 2024 restricted stock units and performance share units to settle them in cash in lieu of stock. The performance conditions, if applicable, and vesting schedules remain unchanged for these awards. As of June 30, 2026, the Company had a liability of $0.9 million recorded in accounts payable and accrued expenses in the Condensed Consolidated Balance Sheets related to awards that are expected to settle in cash. Stock-based compensation expense, including cash-settled liability awards, was $2.1 million and $3.4 million for the three months ended June 30, 2026 and 2025, respectively. Stock-based compensation expense, including cash-settled liability awards, was $5.4 million and $6.0 million for the six months ended June 30, 2026 and 2025, respectively. The Company reports stock-based compensation expense within engineering, selling, and administrative expenses in the Condensed Consolidated Statements of Operations. The Company recognizes stock-based compensation expense over the award’s vesting period, subject to the retirement, death, or disability provisions of the 2013 Omnibus Incentive Plan or the 2025 Omnibus Incentive Plan, as applicable. The Company granted 406,968 restricted stock units, inclusive of 89,088 director awards, during the three and six months ended June 30, 2026. The Company granted 628,499 restricted stock units, inclusive of 130,207 director awards, during the three and six months ended June 30, 2025. The restricted stock units granted to employees vest in three annual increments over a three-year period beginning on the grant date and director awards vest one year from the grant date. The Company issued 284,072 performance shares to employees during the three and six months ended June 30, 2026. The Company issued 437,969 performance shares to employees during the three and six months ended June 30, 2025. Performance share units vest after three years and are earned based on the extent to which performance goals are met over the applicable performance period. The performance goals and the applicable performance period vary for each grant year. The performance goals for the performance share units granted in 2026 are weighted 60% on the 3-year average of the Company’s adjusted return on invested capital (“Adjusted ROIC”) percentage from 2026 to 2028 and 40% on cumulative non-new machine sales from January 1, 2026 through December 31, 2028. The Company defines non-new machine sales as parts sales, used crane sales, rental revenue, service revenue and other revenue.

Stock-Based Compensation

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

15. Stock-Based Compensation

Equity compensation awards may be granted to certain eligible employees or non-employee directors. A detailed description of the awards granted prior to 2026 is included in the Company’s 2025 Annual Report on Form 10-K.

The Company grants certain share-based payment awards that are classified as liabilities in accordance with ASC Topic 718, “Compensation—Stock Compensation.” These awards include cash-settled restricted stock units which vest in three annual increments over a three-year period and cash-settled performance share units which vest after three years and are earned based on the extent to which performance goals are met over the applicable performance period.

Liability-classified awards are measured at fair value at each reporting date until settlement. The fair value of these awards is determined using the closing stock price at the end of the reporting period, and is remeasured at each balance sheet date. Changes in fair value are recognized as compensation expense in engineering, selling, and administrative expenses in the Condensed Consolidated Statements of Operations over the requisite service period.

During the year ended December 31, 2025, the Company modified certain 2023 and 2024 restricted stock units and performance share units to settle them in cash in lieu of stock. The performance conditions, if applicable, and vesting schedules remain unchanged for these awards.

As of June 30, 2026, the Company had a liability of $0.9 million recorded in accounts payable and accrued expenses in the Condensed Consolidated Balance Sheets related to awards that are expected to settle in cash.

Stock-based compensation expense, including cash-settled liability awards, was $2.1 million and $3.4 million for the three months ended June 30, 2026 and 2025, respectively. Stock-based compensation expense, including cash-settled liability awards, was $5.4 million and $6.0 million for the six months ended June 30, 2026 and 2025, respectively. The Company reports stock-based compensation expense within engineering, selling, and administrative expenses in the Condensed Consolidated Statements of Operations. The Company recognizes stock-based compensation expense over the award’s vesting period, subject to the retirement, death, or disability provisions of the 2013 Omnibus Incentive Plan or the 2025 Omnibus Incentive Plan, as applicable.

The Company granted 406,968 restricted stock units, inclusive of 89,088 director awards, during the three and six months ended June 30, 2026. The Company granted 628,499 restricted stock units, inclusive of 130,207 director awards, during the three and six months ended June 30, 2025. The restricted stock units granted to employees vest in three annual increments over

a three-year period beginning on the grant date and director awards vest one year from the grant date.

The Company issued 284,072 performance shares to employees during the three and six months ended June 30, 2026. The Company issued 437,969 performance shares to employees during the three and six months ended June 30, 2025. Performance share units vest after three years and are earned based on the extent to which performance goals are met over the applicable performance period. The performance goals and the applicable performance period vary for each grant year.

The performance goals for the performance share units granted in 2026 are weighted 60% on the 3-year average of the Company’s adjusted return on invested capital (“Adjusted ROIC”) percentage from 2026 to 2028 and 40% on cumulative non-new machine sales from January 1, 2026 through December 31, 2028. The Company defines non-new machine sales as parts sales, used crane sales, rental revenue, service revenue and other revenue.