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Stock-Based Compensation
9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
During the three and nine months ended September 30, 2026 and 2025, the Company recognized $6 million, $15 million, $5 million, and $16 million, respectively, in stock-based compensation expense, which is included as a component of salaries, wages and benefits within the Company’s condensed consolidated statements of operations.
Stock Options
There were no stock options granted during the nine months ended September 30, 2026. During the nine months ended September 30, 2026, no vested stock options were exercised. As of September 30, 2026, the weighted-average exercise price of outstanding stock options was $9.49 per share.
Restricted Stock Units
During the nine months ended September 30, 2026, 3,103,973 restricted stock units were issued with a weighted-average grant date fair value of $5.41 per share. During the nine months ended September 30, 2026, 1,810,917 restricted stock units vested, of which 508,077 restricted stock units were withheld to cover employees’ tax withholding obligations, with a weighted-average grant date fair value of $6.87 and $8.01 per share, respectively.
Performance Stock Units
During the nine months ended September 30, 2026, 1,063,239 performance stock units (“PSUs”) were issued, of which 550,886 PSUs were issued with a non-market-based performance condition and a weighted-average grant date fair value of $5.65 per share, and the remaining 512,353 PSUs were issued with a market-based condition and a weighted-average grant date fair value of $9.49 per share. During the nine months ended September 30, 2026, 41,626 PSUs vested, of which 11,243 PSUs were withheld to cover employees’ tax withholding obligations, each with a weighted-average grant date fair value of $11.50 per share.
Stockholders’ Equity
As of September 30, 2026 and December 31, 2025, the Company had authorized common stock (voting), common stock (non-voting) and preferred stock of 750,000,000, 150,000,000 and 10,000,000 shares, respectively, of which only common stock (voting) were issued and outstanding. All classes of equity have a par value of $0.001 per share.