On September 25, 2025, the Company’s board of directors and stockholders terminated the ALH Holding Inc. 2015 Stock Option Plan (the "2015 Stock Option Plan") and approved the 2025 Omnibus Incentive Compensation Plan (the "2025 Compensation Plan"). No further awards will be granted under the 2015 Stock Option Plan, but existing awards will continue to vest and be exercisable in accordance with the plan terms.


	Share Options	Weighted Average Exercise Price (Per Share)		Weighted Average Remaining Contractual Term (in years)
Options outstanding as of December 31, 2025	9,114,001	$	7.31
Granted	—	—
Exercised	(3,258,914)	6.46
Forfeited	(102,063)	9.92
Options outstanding as of September 30, 2026	5,753,024	$	7.75	5.1
Options exercisable as of September 30, 2026	5,094,319	$	7.31	4.8

At September 30, 2026, the Company had approximately $2.1 million of total unrecognized compensation cost related to non-vested, time-based stock options granted. That cost is expected to be recognized over a weighted average period of 3.0 years. As of September 30, 2026, the Company had no unrecognized compensation cost related to performance-based stock option grants as all awards vested upon the Company's IPO in 2025.

The 2025 Compensation Plan allows the Company to grant equity-based incentive awards to eligible directors, officers, employees, and consultants. The plan replaced the Company’s 2015 Stock Option Plan and permits the issuance of stock options, stock appreciation rights, restricted shares, restricted stock units ("RSUs"), performance share units ("PSUs") and cash incentive awards.

RSUs represent the right to receive one share of the Company’s common stock upon vesting, subject to the terms and conditions of the applicable award agreement. RSUs are generally settled in an equal number of shares of the Company’s common stock at the time of vesting. RSU awards granted to employees and officers generally vest ratably over a four-year period on the anniversary of the grant date, subject to continued service. The fair value of each RSU is equal to the closing price of the Company’s common stock on the date of grant. Compensation expense is recognized on a straight-line basis over the requisite service period and is included within Selling, general, and administrative expense in the Condensed Consolidated Statement of Comprehensive Income. Unvested RSUs are generally forfeited upon termination of service, and the related unrecognized compensation expense is reversed in the period of forfeiture.

PSU awards cliff vest at the end of a performance period subject to (i) the Company’s achievement of certain financial performance goals established by the Compensation Committee, including Revenue compound annual growth rate ("CAGR") and Adjusted Free Cash Flow CAGR, and (ii) the recipient’s continued employment through the last day of the performance period. Annual PSU grants are subject to a three-year performance period and certain stub grants are subject to a two-year performance period. The number of shares earned, if any, may range from 0% to 200% of the target award amount depending on the level of performance achieved.

The fair value of PSU awards is equal to the closing price of the Company’s common stock on the date of grant. Compensation expense is recognized on a straight-line basis over the requisite service period based on the Company’s periodic assessment of the probability that the applicable performance conditions will be achieved. Compensation expense is adjusted prospectively if that assessment changes.


	RSUs			PSUs
	Shares	Weighted Average Grant Date Fair Value per Share		Shares	Weighted Average Grant Date Fair Value per Share
Outstanding as of December 31, 2025	395,897	$	24.99	—	$	—
Granted	346,212	21.44		825,145	20.74
Vested	—	—		—	—
Forfeited	(26,418)	23.19		(21,176)	20.69
Outstanding as of September 30, 2026	715,691	$	23.34	803,969	$	20.74

As of September 30, 2026, there was $12.5 million of total unrecognized stock-based compensation expense related to unvested RSUs, which is expected to be recognized over a remaining weighted-average period of 3.10 years. As of September 30, 2026, there was $13.2 million of total unrecognized stock-based compensation expense related to unvested PSUs, which is expected to be recognized over a remaining weighted-average period of 2.16 years.

The ESPP allows eligible employees of the Company to purchase shares of the Company's common stock during offering periods established by the plan administrator. As permitted under the terms of the ESPP, the plan administrator has established the purchase price per share for each offering period at 85% of the fair market value of the Company's common stock on the purchase date.

The ESPP is considered compensatory. The Company measures compensation cost as the difference between the fair market value of the stock on the purchase date and the purchase price, recognized on a straight-line basis over the respective offering period.

During the three months ended September 30, 2026, no shares of common stock were issued under the ESPP. During the nine months ended September 30, 2026, 9,292 shares of common stock were issued under the ESPP. As of September 30, 2026, there were 3,937,716 shares available for future issuance under the ESPP.

During the three months ended September 30, 2026, the Company recognized less than $0.1 million of stock-based compensation expense related to the ESPP. During the nine months ended September 30, 2026, the Company recognized $0.1 million of stock-based compensation expense related to the ESPP. Compensation expense related to the ESPP is included within Selling, general, and administrative expenses in the Condensed Consolidated Statements of Comprehensive Income.

See Note 20, Stock Based Compensation, to the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, for further information regarding the ESPP and the assumptions used in estimating the fair value of awards granted thereunder.