v3.26.1
Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Stock Option Activity

A summary of stock option activity for the six months ended June 30, 2026 is as follows:

 

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

 

Contractual Life

 

 

Aggregate

 

 

 

Number of

 

 

Weighted Average

 

 

Remaining

 

 

Intrinsic Value

 

 

 

Shares

 

 

Exercise Price

 

 

(in years)

 

 

(whole dollars)

 

Outstanding as of December 31, 2025

 

 

13,592,636

 

 

$

9.47

 

 

 

6.92

 

 

$

16,064,815

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Exercised

 

 

(274,868

)

 

 

6.77

 

 

 

 

 

 

 

Expired/Forfeited

 

 

(281,267

)

 

 

10.70

 

 

 

 

 

 

 

Outstanding as of June 30, 2026

 

 

13,036,501

 

 

$

9.50

 

 

 

6.41

 

 

$

6,943,354

 

Exercisable as of June 30, 2026

 

 

3,793,985

 

 

$

6.56

 

 

 

4.97

 

 

$

6,943,354

 
Summary of Weighted Average Assumptions Used In Calculating Fair Value of Stock Options Granted and Executive Market Units The weighted average assumptions used in calculating the fair value of stock options granted during the six months ended June 30, 2025 were as follows:

 

 

For the Six Months
Ended June 30,

 

 

 

 

 

2025

 

Expected life (in years)

 

6.75

 

Expected volatility

 

 

37.50

%

Risk-free interest rate

 

 

4.45

%

Expected dividend yield

 

 

1.11

%
Summary of Restricted Stock Activity

 

 

Number of

 

 

Weighted-Average Grant

 

 

 

RSAs

 

 

Date Fair Value Per RSA

 

Outstanding as of December 31, 2025

 

 

128,603

 

 

$

9.37

 

Granted

 

 

147,852

 

 

 

8.15

 

Vested

 

 

(128,603

)

 

 

9.37

 

Forfeited

 

 

—

 

 

 

—

 

Outstanding as of June 30, 2026

 

 

147,852

 

 

$

8.15

 
Summary of Restricted Stock Units

The table below excludes Executive Market Units for which the market conditions have not been satisfied, and Additional Bonaccord Units that had not vested or that had vested and settled in cash.

 

 

Number of

 

 

Weighted-Average Grant

 

 

 

RSUs

 

 

Date Fair Value Per RSU

 

Outstanding as of December 31, 2025

 

 

1,425,209

 

 

$

11.60

 

Granted

 

 

2,882,893

 

 

 

8.54

 

Vested

 

 

(845,246

)

 

 

12.59

 

Forfeited

 

 

(43,584

)

 

 

8.54

 

Outstanding as of June 30, 2026

 

 

3,419,272

 

 

$

8.81

 
Executive Market Units  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Weighted Average Assumptions Used In Calculating Fair Value of Stock Options Granted and Executive Market Units

The table below shows the assumptions used in the Monte Carlo simulation for the Executive Market Units' fair value.

 

 

As of

 

 

October 23, 2023

Expected life (in years)

 

5

Expected volatility

 

40.00%

Risk-free interest rate

 

4.81%

Expected dividend yield

 

1.42%