XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.24.3

Note 8 - Stock-based Compensation | 9 Months Ended
--- | ---
Sep. 30, 2024
Notes to Financial Statements |
Share-Based Payment Arrangement [Text Block] |
8. | Stock-based Compensation
We recognize compensation expense for stock-based payment awards made to our employees, consultants and directors. The following table provides our stock-based compensation expense and related income tax benefit for the three and nine-month periods ended September 30, 2024 and 2023 (in millions):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Stock-based compensation expense, gross |  | $ | 5 |  |  | $ | 5 |  |  | $ | 17 |  |  | $ | 14 |
Income tax benefit at our statutory rate associated with share-based compensation |  |  | (1 | ) |  |  | (1 | ) |  |  | (4 | ) |  |  | (4 | )
Stock-based compensation expense, net |  | $ | 4 |  |  | $ | 4 |  |  | $ | 13 |  |  | $ | 10 |
All shares of Class A common stock and common stock underlying outstanding restricted stock units and performance awards are counted as issued at target levels under the 2022 EICP for purposes of determining the number of shares available for future issuance. A summary of restricted Class A common stock, common stock and restricted stock units activity for the nine-month periods ended September 30, 2024 and 2023 is as follows:
|  | Nine Months Ended |
|  | September 30, 2024 |  |  | September 30, 2023 |
|  |  |  |  |  | Weighted- |  |  |  |  |  |  | Weighted- |
|  |  |  |  |  | average |  |  |  |  |  |  | average |
|  |  |  |  |  | Grant Date |  |  |  |  |  |  | Grant Date |
|  | Number of |  |  | Fair Value |  |  | Number of |  |  | Fair Value |
|  | Shares |  |  | Per Share |  |  | Shares |  |  | Per Share |
Restricted stock - common: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding - beginning of period (1) |  |  | 1,467,936 |  |  | $ | 12.17 |  |  |  | 997,745 |  |  | $ | 20.62 |
Granted(1) |  |  | 1,785,958 |  |  | $ | 7.47 |  |  |  | 1,007,919 |  |  | $ | 8.15 |
Vested |  |  | (480,412 | ) |  | $ | 11.23 |  |  |  | (461,953 | ) |  | $ | 20.27 |
Forfeited |  |  | (130,000 | ) |  | $ | 8.10 |  |  |  | - |  |  | $ | - |
Outstanding - end of period (1) |  |  | 2,643,482 |  |  | $ | 9.36 |  |  |  | 1,543,711 |  |  | $ | 12.58 |
Restricted stock - Class A common: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding - beginning of period (1) |  |  | 1,148,233 |  |  | $ | 12.37 |  |  |  | 677,238 |  |  | $ | 19.36 |
Granted(1) |  |  | 823,393 |  |  | $ | 8.25 |  |  |  | 738,854 |  |  | $ | 8.34 |
Vested |  |  | (318,733 | ) |  | $ | 13.17 |  |  |  | (203,986 | ) |  | $ | 18.76 |
Outstanding - end of period (1) |  |  | 1,652,893 |  |  | $ | 10.16 |  |  |  | 1,212,106 |  |  | $ | 12.74 |
Restricted stock units - common stock: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding - beginning of period |  |  | 587,168 |  |  | $ | 11.50 |  |  |  | 274,145 |  |  | $ | 23.60 |
Granted |  |  | 1,229,390 |  |  | $ | 5.72 |  |  |  | 587,168 |  |  | $ | 11.50 |
Vested |  |  | (564,793 | ) |  | $ | 11.50 |  |  |  | (247,953 | ) |  | $ | 23.64 |
Forfeited |  |  | (22,375 | ) |  | $ | 11.50 |  |  |  | (26,192 | ) |  | $ | 23.15 |
Outstanding - end of period |  |  | 1,229,390 |  |  | $ | 5.72 |  |  |  | 587,168 |  |  | $ | 11.50 |
(1) | For awards subject to future performance conditions, amounts assume target performance.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration