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Share-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Summary of Activity Under Share-Based Compensation Plans | The following table summarizes the activity for all SARs under the Company’s share-based compensation plans for the six months ended June 30, 2025:
|  | Number of Awards |  |  | Weighted-Average Exercise Price Per Award |  |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value(1) |
|  | (in thousands) |  |  |  |  |  |  |  | (in millions) |
Outstanding as of December 31, 2024(2) |  |  | 11,002 |  |  | $ | 12.12 |  |  | 7.1 years |  | $ | — |
Granted(3) |  |  | 2,646 |  |  | $ | 7.72 |  |  |  |  |  |
Exercised |  |  | — |  |  | $ | — |  |  |  |  |  |
Forfeited/expired(4) |  |  | (467 | ) |  | $ | 16.27 |  |  |  |  |  |
Outstanding as of June 30, 2025(2) |  |  | 13,181 |  |  | $ | 11.09 |  |  | 7.5 years |  | $ | 4.9 |
Exercisable as of June 30, 2025(5) |  |  | 4,269 |  |  | $ | 15.77 |  |  | 6.8 years |  | $ | 0.3 |
Vested and expected to vest as of June 30, 2025(6) |  |  | 9,466 |  |  | $ | 12.20 |  |  | 8.1 years |  | $ | 2.9 |
(1) The intrinsic value is the amount by which the current market value of the underlying stock exceeds the exercise price of the stock awards. (2) Includes 3.9 million and 4.0 million performance condition SARs as of June 30, 2025 and December 31, 2024, respectively. (3) Includes 0.1 million performance condition SARs. (4) Includes 0.1 million performance condition SARs. (5) Includes 0.4 million performance condition SARs. (6) Includes 0.5 million performance condition SARs. The following table summarizes the activities for all restricted stock units under the Company’s share-based compensation plans for the six months ended June 30, 2025:
|  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value Per Share |
|  | (in thousands) |  |  |  |
Outstanding and nonvested as of December 31, 2024(1) |  |  | 6,289 |  |  | $ | 12.56 |
Granted(2) |  |  | 1,779 |  |  | $ | 8.10 |
Vested |  |  | (2,725 | ) |  | $ | 15.14 |
Forfeited |  |  | (388 | ) |  | $ | 10.85 |
Outstanding and nonvested as of June 30, 2025(1) |  |  | 4,955 |  |  | $ | 9.68 |
Expected to vest as of June 30, 2025(3) |  |  | 4,533 |  |  | $ | 9.77 |
(1) Includes 1.6 million performance-based restricted stock units as of June 30, 2025, which represents the maximum amount that can vest. There were no performance-based restricted stock units outstanding as of December 31, 2024. (2) Includes 1.6 million performance-based restricted stock units. (3) Includes 1.2 million performance-based restricted stock units.

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