XML 37 R21.htm IDEA: XBRL DOCUMENT v3.26.1
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
In June 2010, our board of directors adopted, and in July 2010 our stockholders approved, the 2010 Equity Incentive Plan, which replaced our 2001 Stock Plan, and the 2010 Employee Stock Purchase Plan. The 2010 Equity Incentive Plan authorizes the award of stock options, restricted stock awards, stock appreciation rights, restricted stock units, performance shares and stock bonuses. Options granted under the 2010 Equity Incentive Plan generally vest over four years and expire five years or ten years from the date of grant. The 2010 Employee Stock Purchase Plan enables eligible employees to purchase shares of our Class A common stock periodically at a discount. Our 2010 Employee Stock Purchase Plan is intended to qualify as an employee stock purchase plan under Section 423 of the Internal Revenue Code ("IRC"). Approximately 4.7 million shares are available for grant under the 2010 Equity Incentive Plan as of December 31, 2025.
Stock-based compensation for the years ended December 31, 2025, 2024, and 2023 includes expense related to awards of stock options, performance and service based restricted stock units and purchases under the 2010 Employee Stock Purchase Plan. Total stock-based compensation expense and the related income tax benefit were as follows:
Note 13—Stock-Based Compensation (continued)
Year Ended December 31,
202520242023
(In thousands)
Total stock-based compensation expense$18,703 $29,928 $33,744 
Related income tax benefit2,126 1,432 5,769 
Restricted Stock Units
The following table summarizes restricted stock units with only service conditions granted under our 2010 Equity Incentive Plan:
 Year Ended December 31,
 202520242023
(In thousands, except per share data)
Restricted stock units granted2,585 2,272 1,586 
Weighted-average grant-date fair value$8.05 $9.19 $16.67 
Restricted stock unit activity for the year ended December 31, 2025 was as follows:
SharesWeighted-Average Grant-Date Fair Value
(In thousands, except per share data)
Outstanding at December 31, 2024
3,077 $12.23 
Restricted stock units granted2,585 8.05 
Restricted stock units vested(1,255)14.04 
Restricted stock units canceled(658)10.63 
Outstanding at December 31, 2025
3,749 $9.02 
The total fair value of restricted stock vested for the years ended December 31, 2025, 2024 and 2023 was $10.5 million, $9.8 million and $11.3 million, respectively, based on the price of our Class A common stock on the vesting date.
Performance-Based Restricted Stock Units
We grant performance-based restricted stock units to certain employees that are subject to the attainment of pre-established internal performance conditions, market conditions, or a combination thereof (collectively referred to herein as "performance-based restricted stock units"). The actual number of shares subject to the award is determined at the end of the performance period and may range from zero to 200% of the target shares granted depending upon the terms of the award. Some awards may contain an additional service component after each performance period is concluded and the unvested balance of the shares after the performance metrics are achieved will vest over the remaining requisite service period. Compensation expense related to these awards is recognized using the accelerated attribution method over the vesting period based on the grant date fair value of the award.
The following table summarizes the performance-based restricted stock units granted under our 2010 Equity Incentive Plan:
 Year Ended December 31,
 202520242023
(In thousands, except per share data)
Performance restricted stock units granted111 996 724 
Weighted-average grant-date fair value$7.83 $8.98 $18.13 
Note 13—Stock-Based Compensation (continued)
Performance-based restricted stock unit activity for the year ended December 31, 2025 was as follows:
SharesWeighted-Average Grant-Date Fair Value
(In thousands, except per share data)
Outstanding at December 31, 2024
1,569 $12.73 
Performance restricted stock units granted (at target)111 7.83 
Performance restricted stock units vested(6)49.32 
Performance restricted stock units canceled(936)12.58 
Outstanding at December 31, 2025
738 $11.87 
The total fair value of all performance-based restricted stock vested for the years ended December 31, 2025, 2024 and 2023 was $0.1 million, $0.3 million and $2.1 million, respectively, based on the price of our Class A common stock on the vesting date.
As of December 31, 2025, there was $19.7 million of aggregate unrecognized compensation cost related to unvested restricted stock units (including performance-based awards) expected to be recognized in compensation expense in future periods, with a weighted-average period of 1.73 years.