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Stock Awards (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-based Award Activity

The following summarizes award activity in 2025 and 2024 (which includes awards granted in 2025, 2024, and any applicable prior years), respectively:

For the Year Ended December 31, 2025:

 

 

Vesting Based
on Service

 

 

Vesting Based on
Market/Performance
Conditions

 

 

 

Shares

 

 

Weighted-Average
Value at Award Date

 

 

Shares

 

 

Weighted-Average
Value at Award Date

 

Nonvested awards at beginning of the year

 

 

1,641,500

 

 

$

6.50

 

 

 

10,313,221

 

 

$

9.33

 

Awarded

 

 

2,538,451

 

 

$

5.24

 

 

 

1,347,895

 

 

$

11.00

 

Vested

 

 

(1,550,294

)

 

$

6.63

 

 

 

(89,065

)

 

$

22.11

 

Forfeited

 

 

(21,493

)

 

$

5.77

 

 

 

(3,689,223

)

 

$

11.89

 

Nonvested awards at end of year

 

 

2,608,164

 

 

$

5.20

 

 

 

7,882,828

 

(1)

$

8.97

 
(1)
Reflects the maximum share payout of certain market-based awards granted in 2023, 2024, and 2025. However, share payout at target level for these market-based awards would result in nonvested awards at December 31, 2025 of 3.1 million shares.

For the Year Ended December 31, 2024:

 

 

Vesting Based
on Service

 

 

Vesting Based on
Market/Performance
Conditions

 

 

 

Shares

 

 

Weighted-Average
Value at Award Date

 

 

Shares

 

 

Weighted-Average
Value at Award Date

 

Nonvested awards at beginning of the year

 

 

1,144,796

 

 

$

13.01

 

 

 

12,576,792

 

 

$

10.20

 

Awarded

 

 

1,519,207

 

 

$

4.36

 

 

 

345,000

 

 

$

7.78

 

Vested

 

 

(993,312

)

 

$

10.62

 

 

 

(1,179,631

)

 

$

16.81

 

Forfeited

 

 

(29,191

)

 

$

9.58

 

 

 

(1,428,940

)

 

$

10.40

 

Nonvested awards at end of year

 

 

1,641,500

 

 

$

6.50

 

 

 

10,313,221

 

 

$

9.33