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STOCK-BASED COMPENSATION | 9 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION We recorded stock-based compensation expense, including expenses related to the estimated achievement of the performance metrics of performance-based stock options (“PSOs”) granted during the three and nine months ended September 30, 2025, and employee stock purchase plan, as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Stock-based compensation expense | $ | 3,746 |  |  | $ | 3,664 |  |  | $ | 10,341 |  |  | $ | 10,368 |
Our stock-based compensation expense is included in selling, general and administrative expenses in the condensed consolidated statements of income. As of September 30, 2025, there was $23,944 of unrecognized compensation expense related to non-vested stock option awards that is expected to be recognized over a weighted-average period of 2.5 years. This includes $3,864 of unrecognized compensation expense related to PSOs based on our current assessment of probability. There is an additional $7,849 of unrecognized compensation expense if the PSOs were to achieve 100% probability. Stock Option and Restricted Stock Units (“RSUs”) Grants During the nine months ended September 30, 2025, we granted 1,416 common stock options to certain employees under our 2020 Stock Incentive Plan (“2020 Plan”), which have a contractual life of ten years and vest over a three or five-year period. We also granted awards of 137 RSUs to certain employees and directors under our 2020 Plan. RSUs for directors cliff vest after one year and RSUs for employees vest 25% every six months for two years. We did not grant awards to individuals who were not either an employee or director of ours during the nine months ended September 30, 2025 and 2024.

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