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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

Stock option activity for the three months ended March 31, 2025, was as follows:

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

Number of
Options

 

 

Exercise Price
per Option

 

 

Remaining
Contractual
Term

 

 

Aggregate
Intrinsic
Value

 

 

 

(thousands)

 

 

 

 

 

(years)

 

 

(millions)

 

Outstanding at December 31, 2024

 

 

17,624

 

 

$

5.94

 

 

 

6.1

 

 

$

6.9

 

Granted

 

 

943

 

 

 

4.14

 

 

 

 

 

 

 

Exercised

 

 

(18

)

 

 

3.80

 

 

 

 

 

 

 

Forfeited/Expired

 

 

(365

)

 

 

7.54

 

 

 

 

 

 

 

Outstanding at March 31, 2025

 

 

18,184

 

 

$

5.81

 

 

 

6.2

 

 

$

0.9

 

Exercisable at March 31, 2025

 

 

11,232

 

 

$

6.59

 

 

 

5.2

 

 

$

0.3

 

Schedule of Restricted Stock Units Activity

RSU activity for the three months ended March 31, 2025, was as follows:

(share data in thousands, except per share data)

 

Number of
RSUs
(share data in
thousands)

 

 

Weighted
Average
Grant Date
Fair Value
per Share

 

Unvested balance, December 31, 2024

 

 

268

 

 

$

5.71

 

Granted

 

 

3,035

 

 

 

4.13

 

Vested

 

 

(180

)

 

 

5.93

 

Unvested balance, March 31, 2025

 

 

3,123

 

 

$

4.16

 

Schedule of Assumptions Used in Determining Fair Value Performance-based Market Condition Share Awards Outstanding

The assumptions used in determining the fair value for the performance-based market condition share awards outstanding at March 31, 2025 were as follows:

 

 

March 31,
2025

Expected volatility

 

69.8%

Dividend yield

 

1.2%

Risk-free interest rate

 

3.6%

Weighted-average expected term (in years)

 

3.9