v3.26.1
Stock-based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Nonvested Restricted Stock Units Activity
The following table summarizes the activity related to the Company’s RSUs for the six months ended June 30, 2026:
(in millions, except for weighted-average grant date fair value)
Number of RSUs
Weighted-Average Grant Date Fair Value
Balance at beginning of period16.1 $12.69 
Granted 4.1 $21.57 
Vested(1)
(3.4)$14.55 
Forfeited(1.4)$13.27 
Balance at end of period15.4 $14.65 
(1) The number of RSUs vested includes 0.1 million RSUs that vested in June 2026, but were not legally settled until July 2026.
The following table summarizes additional information regarding RSUs:
Six Months Ended June 30,
(in millions, except per share amounts)
20262025
Weighted-average fair value per share of RSUs granted and converted$21.57 $13.16 
Total grant date fair value of RSUs vested$49 $58 
Total intrinsic value of RSUs released$71 $73 
Share-Based Payment Arrangement, Performance Shares, Market-Based Conditions, Percentage
The following table summarizes the market-based conditions:
Percentile Position vs.
S&P 500 Index Companies
Units Earned as a
Percentage of Target
Below 55th Percentile— %
55th Percentile100 %
65th Percentile150 %
75th Percentile175 %
80th Percentile200 %
90th Percentile225 %
Schedule of Nonvested Performance-Based Units Activity
The following table summarizes the activity related to the Company’s PRSUs for the six months ended June 30, 2026:
(in millions, except for weighted-average grant date fair value)
Number of PRSUs
Weighted-Average Grant Date Fair Value
Balance at beginning of period8.8 $20.17 
Granted 0.2 $21.50 
Added by performance factor(1)
1.4 $15.66 
Vested(1)
(2.4)$15.66 
Balance at end of period8.0 $20.80 
(1) Includes PRSUs that vested above target based on achievement of applicable performance goals.
The following table summarizes additional information regarding PRSUs:
Six Months Ended June 30,
(in millions, except per share amounts)
20262025
Weighted-average fair value per share of PRSUs granted$21.50 $15.06 
Total grant date fair value of PRSUs vested$37 $— 
Total intrinsic value of PRSUs released$60 $— 
Share-Based Payment Arrangement, Expensed and Capitalized, Amount The Company recognized stock-based compensation expense as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in millions)
2026202520262025
NSOs
$— $$— $
RSUs
20 44 48 51 
PRSUs
13 20 26 
Total stock-based compensation expense
$29 $65 $68 $85 
Share-Based Compensation Arrangements by Share-Based Payment Award The following weighted-average assumptions were used in the Monte Carlo model in determining the fair value of PRSUs granted during the six months ended June 30, 2025:
Performance period3.70 years
Risk-free interest rate3.8 %
Expected volatility43.0 %
Dividend yield— %