Quarterly report [Sections 13 or 15(d)]

Stock-Based Compensation

v3.26.1
Stock-Based Compensation
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Restricted Stock Units

A summary of the restricted stock units ("RSUs") activity for the three months ended March 31, 2026 is as follows:

Number of RSUs
Average Grant-Date Fair Value
Unvested and outstanding at December 31, 2025
2,865,075
$
2.70
Forfeited
(21,836)
$
3.49
Vested
(622,715)
$
2.93
Vested, unsettled
175,000
$
2.04
Unvested and outstanding at March 31, 2026
2,395,524
$
2.58

Total RSU expense, net of amounts capitalized, for the three months ended March 31, 2026 and 2025 was $1.0 million and $0.5 million, respectively. As of March 31, 2026, the total compensation cost related to unvested RSUs not yet recognized is $4.0 million. Unvested RSU expense not yet recognized is expected to be recognized over a weighted average period of 1.4 years.