Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2026

Share-Based Payment Arrangement [Abstract]

The following table summarizes the Company's RSA activity for the nine months ended September 30, 2026 and 2025:


	Nine Months Ended September 30,
	2026			2025
	Number of Shares	Weighted-Average Grant Date Fair Value		Number of Shares	Weighted-Average Grant Date Fair Value
Outstanding at beginning of period	67,365	$	27.43	36,346	$	38.11
Granted	44,219	$	26.12	64,070	$	27.86
Forfeited	(14,358)	$	27.86	—	$	—
Vested	(49,712)	$	27.86	(32,332)	$	38.20
Outstanding at end of period	47,514	$	25.62	68,084	$	28.42

Schedule of Restricted Stock Units

The following table summarizes the Company's Time-Based RSU activity for the nine months ended September 30, 2026 and 2025:


	Nine Months Ended September 30,
	2026			2025
	Number of Shares	Weighted-Average Grant Date Fair Value		Number of Shares	Weighted-Average Grant Date Fair Value
Outstanding at beginning of period	932,175	$	35.95	576,652	$	43.87
Granted	1,080,919	$	22.53	677,853	$	31.08
Forfeited	(65,862)	$	31.01	(53,320)	$	40.92
Vested	(368,255)	$	35.58	(242,578)	$	39.79
Outstanding at end of period	1,578,977	$	27.06	958,607	$	35.92

The following table summarizes the Company's Performance-Based RSU activity for the nine months ended September 30, 2026 and 2025:


	Nine Months Ended September 30,
	2026			2025
	Number of Shares	Weighted-Average Grant Date Fair Value		Number of Shares	Weighted-Average Grant Date Fair Value
Outstanding at beginning of period	1,188,986	$	52.49	1,768,460	$	47.02
Granted	331,112	$	26.89	406,265	$	44.16
Forfeited	(45,125)	$	47.32	(46,356)	$	54.88
Vested(a)	(557,244)	$	51.73	(620,326)	$	43.18
Outstanding at end of period	917,729	$	43.96	1,508,043	$	47.59

(a) The Performance-Based RSUs vested at a weighted average of 42% of target, or 233,334 shares, and 78% of target, or 482,083 shares, during the nine months ended September 30, 2026 and 2025, respectively.

Schedule of Stock Option Activity

The following table summarizes the Company's stock options activity for the nine months ended September 30, 2026:


	Nine Months Ended September 30, 2026
	WillScot Options	Weighted-Average Exercise Price per Share		Converted Mobile Mini Options	Weighted-Average Exercise Price per Share
Outstanding at beginning of period	754,188	$	16.46	10,884	$	13.08
Granted	100,000	$	18.83	—	$	—

Exercised	(408,497)	$	13.60	(10,884)	$	13.08
Outstanding at end of period	445,691	$	19.61	—	$	—

Fully vested and exercisable at end of period	219,024	$	17.77	—	$	—

The following table summarizes the Company's stock options activity for the nine months ended September 30, 2025:


	Nine Months Ended September 30, 2025
	WillScot Options	Weighted-Average Exercise Price per Share		Converted Mobile Mini Options	Weighted-Average Exercise Price per Share
Outstanding at beginning of period	534,188	$	13.60	814,889	$	12.77
Granted	220,000	$	23.39	—	$	—
Exercised	—	$	—	(786,204)	$	12.77
Outstanding at end of period	754,188	$	16.46	28,685	$	12.86

Fully vested and exercisable at end of period	534,188	$	13.60	28,685	$	12.86

Schedule of Fair Value of Stock Option Award was Estimated on the Grant Date using the Black-Scholes Option-pricing Model

The fair value of each stock option award granted during the nine months ended September 30, 2026 was estimated on the grant date using the Black-Scholes option-pricing model. The assumptions are listed in the table below.


	Assumptions
Expected volatility	46.30		%
Expected dividend	1.50		%
Risk-free rate	3.84		%
Expected term	6.0 years
Exercise price	$	18.83
Weighted-average grant date fair value	$	8.09