XML 36 R25.htm IDEA: XBRL DOCUMENT v3.25.3
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Payment Arrangement, Option, Activity
The following table summarizes stock option activity during the nine months ended September 30, 2025:
Stock OptionsWeighted-
Average
Exercise Price
Options outstanding at December 31, 2024445,136$51.34 
Granted139,87239.32 
Exercised(70,307)34.27 
Forfeited(103,013)37.68 
Expired(16,354)87.74 
Options outstanding at September 30, 2025395,334$52.18 
Exercisable at September 30, 2025191,882$68.62 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
The following table provides the assumptions used in the Black-Scholes pricing model valuation of options during the nine months ended September 30, 2025 and 2024:
Nine Months Ended
September 30,
20252024
Risk-free interest rate
4.13% - 4.17%
4.28% - 4.30%
Expected life (years)
6.25
6.25
Expected volatility
52.12% - 52.99%
50.62% - 50.72%
Expected dividend yield0%0%
Schedule of Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
The following table summarizes restricted stock units activity during the nine months ended September 30, 2025:
Restricted
Stock Units		Weighted-
Average
Grant Date
Fair Value
Per Share
Restricted stock units at December 31, 2024763,261$38.25 
Granted278,50039.95 
Restrictions lapsed(212,526)40.55 
Forfeited(103,268)36.40 
Restricted stock units at September 30, 2025725,967$38.49 
Schedule of Nonvested Performance-Based Units Activity
The following table summarizes performance stock units activity during the nine months ended September 30, 2025:
Performance
Stock Units		Weighted-
Average
Grant Date
Fair Value
Per Share
Performance stock units at December 31, 2024180,173$60.75 
Granted1
153,50359.71 
Restrictions lapsed(32,977)96.41
Performance change—— 
Forfeited(68,887)57
Performance stock units at September 30, 2025231,812$56.17 
1 Includes a target number of 54,320 PSUs granted as part of the May 23, 2025, Inducement Awards, 27,160 of which have the same market condition as the PSUs granted under the 2022 Plan as described above, and 27,160 of which also include a performance condition with anywhere between 0 percent and 100 percent of the target number capable of being achieved during two six-month performance periods depending on revenue and then anywhere between 0 percent and 200 percent of such achieved PSUs capable of being earned and vesting during a three-year performance period depending on the Company's three-year cumulative total shareholder return performance relative to an index and the award recipient's continued employment.
Schedule of Share-based Payment Award, Awards Other Than Stock Options, Valuation Assumptions
The following table provides the assumptions used in the Monte Carlo pricing model valuation of PSUs during the nine months ended September 30, 2025 and 2024:
Nine Months Ended
September 30,
20252024
Risk-free interest rate
3.98% - 4.08%
4.37%
Expected life (years)
2.61 - 2.85
2.88
Expected volatility
52.40% - 53.20%
51.40%
Expected dividend yield0%0%
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The following table presents the assumptions used to estimate the fair value of the ESPP during the nine months ended September 30, 2025 and 2024:
Nine Months Ended
September 30,
20252024
Risk-free interest rate
4.09% - 4.29%
5.07% - 5.16%
Expected life (months)6.006.00
Expected volatility
41.89% - 65.60%
30.97% - 47.92%
Expected dividend yield0%0%