v3.26.3
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary Stock-based Compensation for Equity-settled Awards

The following tables present the Company’s stock-based compensation and related expense for equity-settled awards by type (i.e., restricted stock units (“RSUs”), restricted stock unit awards with performance conditions or market conditions (“PSUs”)) and by financial statement line, as well as the related tax benefit included in the Company’s condensed consolidated statements of operations and comprehensive income:

 

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

RSUs and PSUs

 

 

1,907

 

 

 

—

 

 

 

3,351

 

 

 

—

 

P Units and Phantom Units

 

 

—

 

 

 

—

 

 

 

—

 

 

 

8,084

 

Total

 

$

1,907

 

 

$

—

 

 

$

3,351

 

 

$

8,084

 

 

 

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

General and administrative expense

 

$

1,907

 

 

$

—

 

 

$

3,351

 

 

$

8,084

 

Tax benefit

 

 

(246

)

 

 

—

 

 

 

(415

)

 

 

—

 

Total

 

$

1,661

 

 

$

—

 

 

$

2,936

 

 

$

8,084

 

Stock-Based Compensation, Unamortized Costs The following table presents the unamortized compensation expense and weighted average service period of all unvested outstanding awards as of September 30, 2026:

 

 

Unamortized Compensation Costs

 

 

Weighted Average Service Period

 

 

 

(in thousands)

 

 

(years)

 

RSUs and PSUs(1)

 

 

19,240

 

 

 

2.30

 

Total unamortized compensation expense

 

$

19,240

 

 

 

 

(1) Weighted average service period assumes the performance metrics are met for the PSUs.

Schedule of RSUs and PSUs Activity

The following table summarizes RSU and PSU activity under the Company’s incentive plans:
 

 

 

Number of Shares

 

 

Weighted Average Grant Date Fair Value

 

 

Aggregate Intrinsic Value as of September 30, 2026

 

 

 

(in thousands)

 

 

 

 

 

(in thousands)

 

RSUs and PSUs outstanding at January 1, 2026

 

 

—

 

 

$

—

 

 

 

 

Granted

 

 

339

 

 

 

65.2

 

 

 

 

Vested

 

 

(9

)

 

 

65.3

 

 

 

 

Forfeited

 

 

(35

)

 

 

65.4

 

 

 

 

RSUs and PSUs outstanding at September 30, 2026

 

 

295

 

 

$

65.2

 

 

$

9,571