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Stock-Based Compensation
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
During the three and six months ended June 30, 2024 and 2023, the Company recognized $5 million, $9 million, $3 million and $7 million, respectively, in stock-based compensation expense, which is included as a component of salaries, wages and benefits within the Company’s condensed consolidated statements of operations.
Stock Options and Restricted Stock Units
During the six months ended June 30, 2024, no stock options were granted and 758,217 vested stock options were exercised with a weighted-average exercise price of $1.25 per share. As of June 30, 2024, the weighted-average exercise price of outstanding stock options was $5.26 per share.
During the six months ended June 30, 2024, 1,409,000 restricted stock units were issued with a weighted-average grant date fair value of $5.53 per share. During the six months ended June 30, 2024, 990,525 restricted stock units vested, of which 275,866 restricted stock units were withheld to cover employees’ tax withholding obligations, with a weighted-average grant date fair value of $11.79 and $12.68 per share, respectively.
Stockholders’ Equity
As of June 30, 2024 and December 31, 2023, the Company had authorized common stock (voting), common stock (non-voting) and preferred stock of 750,000,000, 150,000,000 and 10,000,000 shares, respectively, of which only common stock (voting) were issued and outstanding. All classes of equity have a par value of $0.001 per share.