Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

A summary of our share-based compensation expense, net of forfeitures, by award type follows ($ in thousands):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2026		2025		2026		2025
RSAs and RSUs	$	1,581	$	351	$	2,159	$	575
Stock options	779		720		2,441		3,054
Total share-based compensation expense	$	2,360	$	1,071	$	4,600	$	3,629

A summary of the activity related to our RSAs for the six months ended June 30, 2026 follows:


		Weighted
		Average
		Grant Date
	Number of	Fair Value
	Awards	Per Share
Unvested RSAs at the beginning of the period	54,100	$	64.29
Granted	43,045	85.29
Vested	(13,100)	66.31

Unvested RSAs at the end of the period	84,045	77.20

A summary of the activity related to our RSUs for the six months ended June 30, 2026 follows:


		Weighted
		Average
		Grant Date
	Number of	Fair Value
	Units	Per Share
Unvested RSUs at the beginning of the period	—	$	—
Granted	33,133	106.54


Unvested RSUs at the end of the period	33,133	106.54

The following assumptions were used to estimate the fair value of our RSUs granted during the six months ended June 30, 2026:

The following assumptions were used to estimate the fair value of our stock options granted during the six months ended June 30, 2026:

A summary of the activity related to our stock options for the six months ended June 30, 2026 follows:

Weighted

Average

Exercise

Remaining

Number of

Price

Contractual

Options

Per Share

Life

Outstanding stock options at the beginning of the period

1,124,499

66.39

Granted

378,500

84.77

Exercised

(762,819)

63.50

Outstanding stock options at the end of the period

740,180

78.78

4.2 years

Exercisable stock options at the end of the period

330,489

76.74

4.0 years