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INCENTIVE PLANS (Tables) | 9 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense | The following reflects the expense with respect to share-based incentive plans, which is primarily recorded within “compensation and benefits” expense in the Company’s accompanying condensed consolidated statements of operations for the three month and nine month periods ended September 30, 2025 and 2024:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Share-based incentive awards: |  |  |  |  |  |  |
RSUs | $ | 74,546 |  |  | $ | 57,611 |  |  | $ | 226,130 |  |  | $ | 186,150 |
PRSUs | – |  |  | 318 |  |  | (44) |  |  | 1,037 |
PIPRs | 21,577 |  |  | 17,655 |  |  | 54,162 |  |  | 47,942 |
Total | $ | 96,123 |  |  | $ | 75,584 |  |  | $ | 280,248 |  |  | $ | 235,129 |
Schedule of LFI and Other Similar Deferred Compensation Arrangements | The following is a summary of activity relating to LFI and other similar deferred compensation arrangements during the nine month period ended September 30, 2025:
| Prepaid Compensation Asset |  | Compensation Liability
Balance, January 1, 2025 | $ | 52,055 |  |  | $ | 270,847 |
Granted | 40,478 |  |  | 40,478 |
Settled | – |  |  | (148,727) |
Amortization and the impact of forfeitures | (53,441) |  |  | (2,247) |
Change in fair value of underlying investments | – |  |  | 20,575 |
Other | (40) |  |  | 4,218 |
Balance, September 30, 2025 | $ | 39,052 |  |  | $ | 185,144 |
The following is a summary of the impact of LFI and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying condensed consolidated statements of operations for the three month and nine month periods ended September 30, 2025 and 2024:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Amortization and the impact of forfeitures | $ | 15,797 |  |  | $ | 22,997 |  |  | $ | 51,194 |  |  | $ | 81,102 |
Change in the fair value of underlying investments | 4,823 |  |  | 16,732 |  |  | 20,575 |  |  | 24,904 |
Total | $ | 20,620 |  |  | $ | 39,729 |  |  | $ | 71,769 |  |  | $ | 106,006 |
RSUs and PRSUs |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Activity Relating to Share-based Awards | The following is a summary of activity relating to RSUs and PRSUs during the nine month period ended September 30, 2025:
| RSUs |  | PRSUs
| Units |  | Weighted Average Grant Date Fair Value |  | Units |  | Weighted Average Grant Date Fair Value
Balance, January 1, 2025 | 16,212,004 |  |  | $ | 37.07 |  |  | 62,296 |  |  | $ | 35.44 |
Granted (including 550,976 RSUs relating to dividend participation) | 6,933,955 |  |  | $ | 53.01 |  |  | – |  |  | $ | – |
Forfeited | (651,750) |  |  | $ | 43.37 |  |  | – |  |  | $ | – |
PRSUs performance units earned (a) |  |  |  |  | 48,342 |  |  | $ | 21.92 |
Settled | (5,426,230) |  |  | $ | 35.69 |  |  | (110,638) |  |  | $ | 29.53 |
Balance, September 30, 2025 | 17,067,979 |  |  | $ | 43.74 |  |  | – |  |
_________________________________ (a)Represents PRSUs earned during the nine month period ended September 30, 2025 under the performance conditions of previously-granted PRSU awards in excess of the target payout levels of such awards.
PIPRs |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Activity Relating to Share-based Awards | The following is a summary of activity relating to all PIPRs during the nine month period ended September 30, 2025:
| Ordinary PIPRs (a) |  | P-PIPRs |  | SP-PIPRs (c)
| Units |  | Weighted Average Grant Date Fair Value |  | Units |  | Weighted Average Grant Date Fair Value |  | Units |  | Weighted Average Grant Date Fair Value
Balance, January 1, 2025 | 3,331,563 |  |  | $ | 35.77 |  |  | 963,660 |  |  | $ | 35.44 |  |  | 2,250,000 |  | $ | 15.06 |
Granted | 1,444,345 |  |  | $ | 44.93 |  |  | – |  |  | $ | – |  |  | – |  | $ | – |
Forfeited | (212,968) |  |  | $ | 36.41 |  |  | – |  |  | $ | – |  |  | – |  | $ | – |
Performance units earned (b) |  |  |  |  | 747,800 |  |  | $ | 21.92 |  |  |  |  |
Settled | (478,646) |  |  | $ | 32.95 |  |  | (1,711,460) |  |  | $ | 29.53 |  |  | – |  | $ | – |
Balance, September 30, 2025 | 4,084,294 |  | $ | 39.31 |  |  | – |  |  |  | 2,250,000 |  | $ | 16.12 |
__________________________ (a)Includes PIPR awards with only service-based vesting conditions. (b)Represents P-PIPRs earned during the nine month period ended September 30, 2025 under the performance conditions of previously-granted P-PIPR awards in excess of the target payout levels of such awards. (c)The change in the weighted average grant date fair value of SP-PIPRs as of September 30, 2025 reflects a modification of certain awards.

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- Definition Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 710 -SubTopic 10 -Name Accounting Standards Codification -Section 30 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483043/710-10-30-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 710 -SubTopic 10 -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482943/710-10-55-8 + Details
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