v3.25.4
Share-based compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Nonvested Restricted Stock Units Activity The RSU activity during 2025 was as follows:
(In millions, except per share data, units in actual)
Number of Units
Weighted Average
Grant Date Fair Value
Nonvested as of December 31, 2024
—
$—
Awards converted upon Spin-Off
3,055
39.60
Granted
118,632
48.79
Vested
—
—
Forfeited
—
—
Nonvested as of December 31, 2025
121,687
$48.56
Share-Based Payment Arrangement, Performance Shares, Activity The PSU activity during 2025 was as follows:
(In millions, except per share data, units in actual)
Number of Units (1)
Weighted Average
Grant Date Fair Value
Nonvested as of December 31, 2024
—
$—
Awards converted upon Spin-Off
329,176
38.97
Granted
656,544
54.77
Vested
(646)
39.61
Forfeited
(14,035)
41.99
Nonvested as of December 31, 2025
971,039
$49.61
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(1) PSUs are presented at target performance (100%), with the potential to earn stretch performance (200%).
Schedule Of Share-Based Payment Award, Performance Shares, Valuation Assumptions The following assumptions were used in the Monte Carlo simulation model for PSUs granted during the year
ended December 31, 2025:
2025
Expected volatility
26.3% - 26.6%
Expected dividend yield
—%
Risk-free interest rates
3.5% - 3.7%
Remaining performance period
2.3 - 2.4 years
Share-Based Payment Arrangement, Option, Activity
(In millions, except per share data, options in
actual)
Number of
Stock Options
Weighted
Average
Exercise Price
Weighted
Average
Remaining
Contractual
Term
Aggregate
Intrinsic Value
Outstanding as of December 31, 2024
—
$—
Awards converted upon Spin-off
2,779,550
32.03
Exercised
—
—
Forfeited
(67,749)
34.02
Expired
—
—
Outstanding as of December 31, 2025
2,711,801
$31.98
6.1
$59.90
Vested and expected to vest, December 31, 2025
2,711,801
$31.98
6.1
$59.90
Exercisable as of December 31, 2025
—
$—
$—