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Stockholders' Equity and Noncontrolling Interest (Tables)
12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Rollforward of Common Stock Outstanding
The following table shows a rollforward of our common stock outstanding for the prior three years:
Class A
Common Stock
Class B
Common Stock
Shares issued at December 31, 202261,447,368 54,504,918 
Common stock and restricted stock grants under Omnibus Incentive Plan, net of forfeitures and shares withheld for taxes854,067 — 
Common stock and restricted stock grants under Partnership Inducement Award Plan, net of forfeitures and shares withheld for taxes(177,555)— 
Redemption of Class B shares of common stock for Class A shares2,082,424 (2,082,424)
Cancellation of Class A shares to settle obligation from partner(72,354)— 
Shares issued at December 31, 202364,133,950 52,422,494 
Common stock and restricted stock grants under Omnibus Incentive Plan, net of forfeitures and shares withheld for taxes1,203,880 — 
Common stock and restricted stock grants under Partnership Inducement Award Plan, net of forfeitures and shares withheld for taxes(228,219)— 
Redemption of Class B shares of common stock for Class A shares2,869,808 (2,869,808)
Shares issued at December 31, 202467,979,419 49,552,686 
Common stock and restricted stock grants under Omnibus Incentive Plan, net of forfeitures and shares withheld for taxes1,028,343 — 
Common stock and restricted stock grants under Partnership Inducement Award Plan, net of forfeitures and shares withheld for taxes(100,224)— 
Redemption of Class B shares of common stock for Class A shares2,848,868 (2,848,868)
Shares issued in connection with partnerships23,202 — 
Shares issued at December 31, 202571,779,608 46,703,818 
Schedule of Ownership Interest
The following table summarizes the ownership interest in Baldwin Holdings:
December 31, 2025December 31, 2024
LLC UnitsPercentageLLC UnitsPercentage
Interest in Baldwin Holdings held by Baldwin71,779,608 61 %67,979,419 58 %
Noncontrolling interest in Baldwin Holdings held by Baldwin Holdings’ LLC Members46,703,818 39 %49,552,686 42 %
Total118,483,426 100 %117,532,105 100 %