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SHARE-BASED COMPENSATION
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION
The following table presents share-based compensation expense (benefit) and unrecognized compensation cost:
Share-Based Compensation
Unrecognized Compensation Cost as of June 30, 2025
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Awards issued pursuant to LTIP:
Stock option awards (a)$413 $907 $791 $(781)$1,188 
Performance stock units (a)542 (489)1,174 (2,219)1,425 
Restricted share units10,589 13,755 20,317 23,507 61,972 
Cash denominated performance awards 4,608 1,636 8,758 6,928 39,291 
Other14 615 575 2,746 — 
$16,166  $16,424 $31,615 $30,181 $103,876 
Restricted Share Units
The following table summarizes activity related to restricted share units granted to our employees:
 Number of Units
Balance at December 31, 202430,146,503 
Granted19,864,598 
Vested(8,964,904)
Forfeited(2,887,155)
Balance at June 30, 2025
38,159,042 

Cash Denominated Performance Awards
The following table summarizes activity related to cash denominated performance award granted to our employees:
 Number of Units
Balance at December 31, 202492,346,250 
Forfeited(9,912,500)
Balance at June 30, 2025
82,433,750 
The cash denominated performance awards cliff vest in three years. The payout of these awards can range from 0% to 200% of the target value based on our achievement of certain revenue and Adjusted EBITDA targets during a three year performance period. These awards will be settled in shares of our Class A common stock, or cash, at our option.
Stock Option Awards
Options outstanding under the 2017 LTIP Plan either (i) cliff vest on the third anniversary of the date of grant, (ii) vest over three years in annual increments of 33-1/3%, or (iii) vest over four years, with 50% vesting on the second anniversary of the date of grant, 25% on the third anniversary of the date of grant and 25% on the fourth anniversary of the date of grant. The option awards generally are subject to continued employment with us, and expire ten years from the date of grant. Performance based option awards vest upon achievement of performance criteria. As of June 30, 2025, there were 17,110,757 options outstanding of which 15,344,723 were exercisable.
Performance Stock Units
Certain of our employees were granted performance stock units ("PSUs"). Each PSU gives the employee the right to receive one share of Altice USA Class A common stock, upon achievement of a specified stock price hurdle. The PSUs will be forfeited if the applicable performance measure is not achieved prior to January 29, 2026 or if the employee does not continue to provide services to us through the achievement date of the applicable performance measure. As of June 30, 2025 there were 2,582,243 PSUs outstanding.
Lightpath Plan Awards
As of June 30, 2025, 616,334 Class A-1 management incentive units and 287,652 Class A-2 management incentive units ("Award Units") granted to certain employees of Lightpath were outstanding. Vested units will be redeemed upon a partial exit, a change in control or the completion of an initial public offering, as defined in the Lightpath Holdings LLC agreement. The grant date fair value of the Award Units outstanding aggregated $31,930 and will be expensed in the period in which a partial exit or a liquidity event is consummated.