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STOCK-BASED COMPENSATION
9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
On May 28, 2025 the Company's stockholders approved the 2025 Plan which has the objective of attracting and retaining skilled
personnel and to enable the Company to grant equity compensation awards and other types of incentive compensation. As of
September 30, 2025, there were 5.8 million shares of common stock available for issuance under the 2025 Plan.
The 2015 Plan, which was adopted on April 30, 2015 and expired in 2025, had the objective of attracting and retaining skilled
personnel and enabled the Company to grant equity compensation awards and other types of incentive compensation. As of
September 30, 2025, there were 1.6 million unvested awards under the 2015 Plan and certain vested but unexercised awards
remained outstanding. No further awards can be granted under the 2015 Plan.
A summary of the Company’s RSUs and PSUs for the nine months ended September 30, 2025 and 2024 is presented in the
following table:
Nine Months Ended September 30,
2025
2024
RSUs/PSUs
(000's)
Weighted
Average
Grant Date
Fair Value
RSUs/PSUs
(000's)
Weighted
Average
Grant Date
Fair Value
Unvested at beginning of period
1,021
$45.09
1,341
$26.43
Granted
1,318
29.13
448
60.09
Vested
(332)
41.61
(731)
23.04
Forfeited and cancelled
(81)
38.84
(66)
28.84
Unvested at end of period
1,926
$35.02
992
$46.00
A summary of PSU awards granted during the nine months ended September 30, 2025, is as follows:
Grant Date
Number of
Shares (000's)
Performance Period
Metrics
Grant Date Fair
Value
March 1, 2025
142
2025-2027
Revenue
rTSR
Revenue - $25.69
rTSR - $36.61
May 30, 2025
27
2025-2027
Revenue
rTSR
Revenue - $37.88
rTSR - $62.61
August 8, 2025
40
2025-2027
Integration Completion
Synergy Savings
$51.95
During the second quarter of 2025, the Human Resources and Compensation Committee approved a modification to the revenue-
based performance metrics applicable to certain of the Company’s outstanding PSUs to reflect the Alani Nu Acquisition. For PSUs
in which the modification did not change the probability of payout, compensation cost continues to be recognized based on the
original grant-date fair value (a Type I, probable-to-probable outcome). For PSUs in which the modification resulted in a change
from improbable to probable (Type III) of achieving the performance condition, we measured the incremental compensation cost at
the modification date fair value and are recognizing that cost over the remaining requisite service period, including a cumulative
catch-up. Incremental expense associated with the modified units was immaterial for the period.