| Stock-Based Compensation |
STOCK-BASED COMPENSATION The following is a summary of RSU activity for the three and six months ended June 30, 2026 and 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the three months ended June 30, | | | | | | | | 2026 | | 2025 | | | | | | | | Shares | | Weighted Average Grant Date Fair Value | | Shares | | Weighted Average Grant Date Fair Value | | | | | | Unvested - beginning of period | | | | | 34,733,111 | | | $ | 5.25 | | | 21,349,692 | | | $ | 6.55 | | | | | | Granted 1 | | | | | 695,768 | | | 2.61 | | | 6,668,086 | | | 3.97 | | | | | | | Vested | | | | | (5,067,162) | | | 4.53 | | | (702,621) | | | 6.02 | | | | | | | Forfeited | | | | | (1,054,659) | | | 4.78 | | | (596,135) | | | 5.97 | | | | | | | Unvested - end of period | | | | | 29,307,058 | | | $ | 5.33 | | | 26,719,022 | | | $ | 5.93 | | | | | | | | | | | | | | | | | | | | | | | | | | | For the six months ended June 30, | | | | | | 2026 | | 2025 | | | | | | | | Shares | | Weighted Average Grant Date Fair Value | | Shares | | Weighted Average Grant Date Fair Value | | | | | | Unvested - beginning of period | | | | | 32,721,352 | | | $ | 5.46 | | | 19,997,692 | | | $ | 6.68 | | | | | | Granted 1 | | | | | 4,394,926 | | | 3.30 | | | 8,813,662 | | | 4.29 | | | | | | | Vested | | | | | (5,603,146) | | | 4.67 | | | (1,047,578) | | | 6.26 | | | | | | | Forfeited | | | | | (2,206,074) | | | 4.91 | | | (1,044,754) | | | 6.12 | | | | | | | Unvested - end of period | | | | | 29,307,058 | | | $ | 5.33 | | | 26,719,022 | | | $ | 5.93 | | | | | | | | | | | | | | | | | | | | | | 1 The RSUs granted during the three and six months ended June 30, 2026 had vesting terms ranging from immediate to 4 years from the grant date. |
Stock-based compensation expense recognized for the three months ended June 30, 2026 and 2025 was $12.5 million and $11.6 million, respectively. Stock-based compensation expense recognized for the six months ended June 30, 2026 and 2025 was $25.7 million and $19.9 million, respectively. As of June 30, 2026, there was $100.0 million of unrecognized compensation expense related to the grant date fair value of unvested awards which is expected to be recognized over a weighted average period of 3.32 years.
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