Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Discount was Determined Using the Finnerty Model

The discount was determined using the Finnerty Model using the following assumptions:

	Year ended December 31, 2024
Volatility		60.0	%
Expected life (in months)		6.0
Risk-free rate		4.3	%
Fair value per unit	$	14.00

Summary of Class B Common Stock, Issued as Incentive Awards, Activity

Class B common stock, issued as incentive awards, activity is as follows during the periods indicated:

	Class B Common Stock			Weighted Average Grant Date Fair Value
Unvested at September 27, 2024		—		$	—
Granted		12,321,282		$	12.67
Vested		(11,070,502	)	$	12.60
Forfeited		(7,074	)	$	13.30
Unvested at December 31, 2024		1,243,706		$	13.30

Summary of Restricted Stock Unit Activity

Restricted Stock Unit activity was as follows during the periods indicated:

	Restricted Stock Units		Weighted Average Grant Date Fair Value
Unvested at September 27, 2024		—	$	—
Granted		10,713	$	14.00
Forfeited		—	$	—
Unvested at December 31, 2024		10,713	$	14.00

Schedule of Unamortized Share Based Compensation Incentive Awards

As of December 31, 2024, unamortized share-based compensation costs related to each share-based incentive award described above is as follows (in thousands, except for the remaining service period):

	Amount		Weighted Average Remaining Service Period (years)
Class B common stock	$	10,050		0.7
Restricted stock units		75		0.3
Total unamortized share-based compensation cost	$	10,125