Quarterly report [Sections 13 or 15(d)]

Employee Benefits and Share-Based Compensation (Tables)

v3.26.1
Employee Benefits and Share-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2026
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of key inputs used in the fair value of the MSU

Dividend yield

 

—%

Expected share price volatility

 

54.77%

Risk-free interest rate

 

3.96%

Expected term

 

3.77 years

Schedule of summary of restricted share unit activity

Number of

Weighted-

Number of

Weighted-

Number of

Weighted-

Time-Based

Average Grant

Performance-

Average Grant

Market-

Average Grant 

  ​ ​ ​

Awards

  ​ ​ ​

Date Fair Value

  ​ ​ ​

Based Awards

  ​ ​ ​

Date Fair Value

  ​ ​ ​

Based Awards

  ​ ​ ​

Date Fair Value

Non-vested as of January 1, 2026

 

8,537,656

$

19.95

 

2,521,536

$

19.97

 

$

Granted

 

6,145,765

20.08

1,304,731

(1)

21.02

2,345,276

(1)

24.24

Vested

 

(4,483,402)

19.02

(579,244)

18.00

 

Forfeited or expired

 

(509,082)

20.24

(203,920)

17.21

 

Non-vested as of March 31, 2026

 

9,690,937

20.45

 

3,043,103

20.98

 

2,345,276

24.24

(1) Number of PSUs and MSUs included assumes maximum achievement.
Schedule of compensation expense recognized for share-based compensation

The compensation expense recognized for share-based compensation for the periods presented includes the following (in thousands):

Three Months Ended

March 31, 

  ​ ​ ​

2026

  ​ ​ ​

2025

Payroll and related expense

$

5,223

$

4,824

Marketing, general and administrative expense

 

18,142

 

15,457

Total share-based compensation expense

$

23,365

$

20,281