We are externally managed by our Manager and do not currently have any employees. However, as of March 31, 2025, our

Manager, certain individuals employed by an affiliate of our Manager, and certain members of our board of directors were

compensated, in part, through our issuance of stock-based instruments.

Under our two current stock incentive plans, a maximum of 10,400,000 shares of our class A common stock may be issued

to our Manager, our directors and officers, and certain employees of affiliates of our Manager. As of March 31, 2025, there

were 5,999,544 shares available under our current stock incentive plans.

The following table details the movement in our outstanding shares of restricted class A common stock and the weighted-


	Restricted Class A Common Stock	Weighted-Average Grant Date Fair Value Per Share
Balance as of December 31, 2024	2,142,759	$21.13
Granted	481,872	17.77
Vested	(216,496)	22.62
Forfeited	(12,408)	19.21
Balance as of March 31, 2025	2,395,727	$20.33

These shares generally vest in installments over a period of three years, pursuant to the terms of the respective award

agreements and the terms of our current benefit plans. The 2,395,727 shares of restricted class A common stock

outstanding as of March 31, 2025 will vest as follows: 1,093,893 shares will vest in 2025; 870,242 shares will vest in 2026;

and 431,592 shares will vest in 2027. As of March 31, 2025, total unrecognized compensation cost relating to unvested

share-based compensation arrangements was $44.8 million based on the grant date fair value of shares granted. This cost is

expected to be recognized over a weighted-average period of 1.1 years from March 31, 2025.