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Stock-Based Compensation | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | NOTE 8. Stock-Based Compensation Omnibus Plan. In May 2017, the Company’s Board of Directors approved the Cars.com Inc. Omnibus Incentive Compensation Plan (the "Omnibus Plan"), which provides for the granting of new shares for stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares and other stock-based and cash-based awards. A maximum of 18.0 million common shares may be issued under the Omnibus Plan. After the issuance of shares during the quarter ended March 31, 2025, the Company has 1.5 million common shares available for future grants under the Omnibus Plan. See the Company's 2024 Definitive Proxy Statement as filed with the SEC on April 25, 2025 for the new proposed Omnibus Plan. Restricted Share Units ("RSUs"). RSUs represent the right to receive unrestricted shares of the Company’s common stock at the time of vesting, subject to any restrictions as specified in the individual holder’s award agreement. RSUs are subject to graded vesting, generally ranging between one year to three years and the fair value of the RSUs is equal to the Company's common stock price on the date of grant. RSU activity for the three months ended March 31, 2025 is as follows (in thousands, except for weighted-average grant date fair value):
| Number of RSUs |  |  | Weighted-Average Grant Date Fair Value |
Outstanding as of December 31, 2024 |  | 3,637 |  |  | $ | 16.52 |
Granted |  | 2,391 |  |  |  | 11.74 |
Vested and delivered |  | (1,314 | ) |  |  | 16.24 |
Forfeited |  | (121 | ) |  |  | 16.80 |
Outstanding as of March 31, 2025 (1) |  | 4,593 |  |  | $ | 14.10 |
(1) Includes 376 RSUs that were vested, but not yet delivered. Performance Share Units ("PSUs"). PSUs represent the right to receive unrestricted shares of the Company’s common stock at the time of vesting. The fair value of the PSUs is equal to the Company’s common stock price on the date of grant. Expense related to PSUs is recognized when the performance conditions are probable of being achieved. The percentage of PSUs that shall vest will range from 0% to 200% of the number of PSUs granted based on the Company’s future performance over a one-year to three-year performance period related primarily to certain revenue, adjusted earnings before interest, income taxes, depreciation and amortization, cumulative adjusted net income per share targets and total shareholder return. These PSUs are subject to cliff vesting after the end of the respective performance period. PSU activity for the three months ended March 31, 2025 is as follows (in thousands, except for weighted-average grant date fair value):
| Number of PSUs |  |  | Weighted-Average Grant Date Fair Value |
Outstanding as of December 31, 2024 |  | 931 |  |  | $ | 16.37 |
Granted |  | 542 |  |  |  | 11.64 |
Vested and delivered |  | (245 | ) |  |  | 14.78 |
Forfeited |  | (44 | ) |  |  | 16.94 |
Outstanding as of March 31, 2025 |  | 1,184 |  |  | $ | 14.51 |

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