Subsequent Events

9 Months Ended

Sep. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

16. Subsequent Events

In November 2024, the compensation committee of the Company’s board of directors modified the terms of an RSU award representing the right to be issued up to 1,200,000 shares of the Company’s common stock that was previously

granted to the Company’s chief executive officer. In connection with the Company’s initial public offering in September 2023, 300,000 shares under the RSU award vested. The modification changed the existing market capitalization goals to corresponding stock price goals ranging from $43.32 per share to $86.64 per share. Achievement of the stock price goals is measured using the volume-weighted average closing price (“VWAP”) of the Company’s common stock over the 30-trading day period preceding the applicable measurement date.

Following the modification of the RSU award, and based on the VWAP as of November 12, 2024, the stock price goal of $43.32 was met, resulting in the vesting of an additional 180,000 shares of the Company’s common stock under the RSU award.