v3.26.1
Equity-Based Compensation
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Equity-Based Compensation Equity-Based Compensation
Stock-based Compensation Expense

The following table presents stock‑based compensation expense for the periods indicated.
Three Months Ended June 30,
Six Months Ended June 30,
Incentive Plan2026202520262025
(In thousands)
Restricted stock units (1)
2024 Incentive Plan$5,989 $— $10,864 $— 
Performance restricted stock units
2024 Incentive Plan75 — 139 — 
Incentive units
Legacy Incentive Plan— — — 441 
Class A units (1)
Legacy Incentive Plan— — — 841 
Total$6,064 $— $11,003 $1,282 
In the six months ended June 30, 2025, USARE LLC recorded equity-based compensation for issuance of its Class A Units to certain consultants pursuant to existing bonus agreements. In the six months ended June 30, 2025, USARE LLC recorded the forfeiture of equity-based compensation of the Company’s former CEO.