Quarterly report [Sections 13 or 15(d)]

Stock Based Compensation (Tables)

v3.25.3
Stock Based Compensation (Tables)
9 Months Ended
Sep. 30, 2025
Stock Based Compensation  
Schedule of stock option activity

Weighted

    

Weighted

Average

Average

Aggregate

Exercise

Contractual 

Intrinsic

Number of

Price

Remaining Term

Value

shares

Per Share

(in years)

(in thousands)

Outstanding as of January 1, 2025

2,426,929

$

20.83

 

5.77

$

18,644

Granted

 

9,936

 

25.12

 

 

  

Exercised

 

(177,988)

 

7.21

 

 

  

Forfeited, expired or cancelled

(37,013)

 

75.20

 

 

  

Outstanding as of September 30, 2025

2,221,864

$

21.03

 

5.38

$

39,031

Exercisable as of September 30, 2025

2,016,460

$

20.74

 

5.18

$

36,022

Schedule of grant date fair values of PSUs granted

The grant date fair values of the PSUs granted in 2024 were estimated as follows:

Derived

Hurdle Price

Number of

Fair Value

Service Period

Per PSU

PSUs

Per Share

(in years)

$

30.00

165,900

 

$

18.42-19.71

0.46-0.74

$

35.00

55,290

 

$

17.24-17.67

0.66-0.96

$

40.00

34,029

 

$

15.85-16.14

0.82-1.15

$

45.00

29,781

$

14.20-15.13

0.95-1.31

285,000

 

The grant date fair values of the PSUs granted in 2025 were estimated as follows:

Derived

Hurdle Price

Number of

Fair Value

Service Period

Per Share

PSUs

Per Share

(in years)

$

30.00

20,481

 

$

22.84-37.85

0.08-0.12

$

35.00

6,826

 

$

16.40-36.37

0.08-0.29

$

40.00

4,201

 

$

11.34-29.46

0.12-0.40

$

45.00

3,675

$

7.66-22.33

0.24-0.48

35,183

Schedule of performance shares, outstanding activity

Weighted

Average

Grant Date

Number of

Fair Value

Unvested PSUs

Per Share

Unvested balance as of January 1, 2025

597,117

$

16.03

Granted

 

35,183

 

24.07

Vested

 

(258,823)

 

16.87

Forfeited

 

Unvested balance as of September 30, 2025

373,477

$

16.21

Schedule of restricted stock unit awards activity

Weighted

Average

Grant Date

Number of

Fair Value

Unvested RSUs

Per Share

Unvested balance as of January 1, 2025

15,175

$

24.71

Granted

 

29,855

 

25.12

Vested

 

(15,175)

 

24.71

Forfeited

 

Unvested balance as of September 30, 2025

29,855

$

25.12

Summary of stock-based compensation expense The following table shows total stock-based compensation expense for stock options, PSUs, RSUs, and ESPP in the condensed consolidated statements of operations (in thousands):

Three Months Ended September 30, 

       

Nine Months Ended September 30, 

2025

2024

2025

2024

Total stock-based compensation expense

$

1,770

$

2,590

$

5,358

$

8,136