v3.26.1
Equity-Based Compensation
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Equity-Based Compensation Equity-Based Compensation
Stock Options
The following table summarizes the stock option activity for the three months ended March 31, 2026:
Stock Options OutstandingWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (in years)Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2025647,862 
Granted— 
Forfeited or cancelled— 
Outstanding as of March 31, 2026647,862 $20.00 9.5$— 
As of March 31, 2026, no options were vested or exercisable. The total unrecognized equity-based compensation related to the stock options was approximately $5.1 million, which is expected to be recognized over a weighted-average period of 2.3 years.
Restricted Stock Units
The activity for restricted stock units ("RSUs") for the three months ended March 31, 2026 was as follows:
Number of RSUsWeighted-Average Grant Date Fair Value
Nonvested as of December 31, 2025
341,246 
Granted
— 
Forfeited or cancelled
— 
Nonvested as of March 31, 2026
341,246 $20.00 
As of March 31, 2026, unrecognized compensation cost related to RSUs was approximately $5.4 million, which is expected to be recognized over a weighted-average period of 2.5 years.
Equity-Based Compensation
Three Months Ended March 31,
(in thousands)20262025
Selling, general and administrative expenses$1,187 $—