Stock-based Compensation

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Stock-based Compensation

NOTE 10 – STOCK-BASED COMPENSATION

The Company’s 2018 Amended and Restated Omnibus Incentive Plan (the “2018 A&R Omnibus Plan”) allows the Company to grant up to 2,050,000 total shares of common stock to officers, key employees, and non-employee directors. As of September 30, 2025, the Company had 786,096 shares available for grant under the 2018 A&R Omnibus Plan.

The following awards were granted during the three and nine months ended September 30, 2025 and 2024:

	Awards Granted				Average Grant Date Fair Value				Awards Granted				Average Grant Date Fair Value
	Three Months Ended				Three Months Ended				Nine Months Ended				Nine Months Ended
	September 30,				September 30,				September 30,				September 30,
	2025		2024		2025		2024		2025		2024		2025		2024
Employee Stock Awards - RSUs		4,354		672	$	90.39	$	153.50		147,209		83,467	$	84.99	$	152.59
Employee Stock Awards - PSAs		—		—	$	—	$	—		75,313		28,088	$	76.42	$	166.78
Cash-Settled RSUs		1,740		3,012	$	90.39	$	153.50		75,161		37,570	$	84.96	$	152.64
Non-Employee Director Stock Awards - RSUs		12,040		6,618	$	87.16	$	135.91		12,484		6,618	$	87.06	$	135.91
Total		18,134		10,302						310,167		155,743

The total stock-based compensation expense was $6.3 million and $16.1 million for the three and nine months ended September 30, 2025, respectively, and $6.6 million and $19.3 million for the three and nine months ended September 30, 2024 respectively. The unrecognized compensation expense at September 30, 2025 was $32.1 million, which is expected to vest over the next 1.7 years.