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

​