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STOCK BASED COMPENSATION
3 Months Ended
Mar. 31, 2026
STOCK BASED COMPENSATION  
STOCK BASED COMPENSATION

12. STOCK BASED COMPENSATION

The Company recognized stock based compensation expense, inclusive of awards granted to our non-employee directors, net of capitalization, of $9.6 million and $7.5 million during the three months ended March 31, 2026 and 2025, respectively, which are included in General and Administrative on the Consolidated Statements of Operations.