v3.26.1
Equity-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions The fair value was estimated using the following assumptions for the PRSUs granted for the years ended December 31, 2025 and 2024:

Year Ended December 31,

 

2025 (1)

2024

 

Volatility (2)

  ​ ​ ​

40

%  

40

%

Expected dividend rate

 

%  

%

Risk free rate

 

3.9

%  

3.5

%

aTSR weighted average grant date value

$

14.39

$

6.78

rTSR weighted average grant date value

$

23.90

$

9.91

ROCE

$

19.89

$

18.05

Expected term

 

3

years

 

3

years

(1)There were four specific grant dates during the year ended December 31, 2025. Amounts shown represent weighted average.
(2)Volatility uses a combination of daily historical and implied volatility over a look back period commensurate with the remaining term of the assets.
Summary of Restricted Stock Unit Activity The table below summarizes the PRSU activity for the year ended December 31, 2025:

  ​ ​ ​

  ​ ​ ​

Weighted

Average Grant

(in thousands, except per share amounts)

Shares

Date Fair Value

Unvested PRSUs as of January 1, 2025

 

703

$

12.23

Granted

 

670

$

19.44

Vested

 

(52)

$

12.92

Forfeitures

 

(136)

$

14.14

Unvested PRSUs as of December 31, 2025

 

1,185

$

16.06

The table below summarizes the TRSU activity for the year ended December 31, 2025:

  ​ ​ ​

  ​ ​ ​

Weighted

Average Grant

(in thousands, except per share amounts)

Shares

Date Fair Value

Unvested TRSUs as of January 1, 2025

 

469

$

18.05

Granted

 

470

$

20.11

Vested

 

(156)

$

18.05

Forfeited

 

(94)

$

18.51

Unvested TRSUs as of December 31, 2025

 

689

$

19.39

The following table summarizes the PRSU activity under the 2021 Plan for the year ended December 31, 2024:

  ​ ​ ​

  ​ ​ ​

Weighted

Average Grant

(in thousands, except per share amounts)

Shares

Date Fair Value

Unvested PRSUs as of January 1, 2024

 

3,967

$

19.02

Vested (1)

 

(3,963)

$

19.02

Forfeited (2)

 

(4)

$

19.02

Unvested PRSUs as of December 31, 2024

 

$

(1)For the year ended December 31, 2024, the total weighted average fair value of the shares vested was $28.25.
(2)Forfeited award amounts took into consideration performance shares at the maximum performance level.

The following table summarizes the TRSU activity under the 2021 Plan for the year ended December 31, 2024:

  ​ ​ ​

  ​ ​ ​

Weighted

Average Grant

(in thousands, except per share amounts)

Shares

Date Fair Value

Unvested TRSUs as of January 1, 2024

 

727

$

22.37

Vested (1)

 

(659)

$

22.12

Forfeited

 

(68)

$

22.12

Unvested TRSUs as of December 31, 2024

 

$

(1)For the year ended December 31, 2024, the total weighted average fair value of the shares vested was $22.34.