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Stock Incentive Plans
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock Incentive Plans Stock Incentive Plans
During the first quarter of 2024, the Company granted performance-based restricted stock units (“PSUs”) to certain employees of the Company based on an initial target number. The final number of PSUs that may vest and settle depend upon the Company’s performance against pre-established performance metrics over a predefined performance period. PSUs granted under the 2021 Stock Option and Incentive Plan vest over three years and have a one year performance period with cliff vesting following the completion of the performance period, subject to the compensation committee’s approval of the level of achievement against the pre-established performance targets. Over the performance period, the number of PSUs that may be issued and the related stock-based compensation expense that is recognized is adjusted upward or downward based upon the probability of achieving the approved performance targets against the performance metrics. Depending on the probability of achieving the pre-established performance targets, the number of PSUs issued could range from 0% to 200% of the target amount.
The following table presents the share-based compensation expense recognized within the following line items in the Condensed Consolidated Statement of Operations and Comprehensive Loss and Condensed
Consolidated Balance Sheet in the periods presented:
Three Months Ended March 31,
20242023
Restricted stock units$24,163 $24,792 
Stock options6,611 7,483 
Executive Chairman Long-Term Performance Award13,121 13,121 
Performance restricted stock units
240 — 
Employee Stock Purchase Plan
299 603 
Share-based compensation recorded within Compensation and benefits
44,434 45,999 
Property and equipment (capitalized internal-use software)
2,080 1,028 
Total share-based compensation expense
$46,514 $47,027 
Unrecognized compensation costs by award type:
Unrecognized compensation costs
Weighted-average recognition period (in years)
Restricted stock units, inclusive of PSUs
$281,344 2.4
Stock options36,645 1.8
Executive Chairman Long-Term Performance Award50,662 1.8
Total
$368,651