Activity related to the Company’s equity compensation, which includes the Company’s restricted stock units (“RSUs”) and performance stock units (“PSUs”), was as follows:


(in thousands, except weighted average grant price)	Number of Shares	Weighted Average Grant Price
Outstanding awards, December 31, 2025	1,187	$	15.39
Granted	664	13.18
Vested	(421)	15.93
Forfeited	(9)	15.63
Outstanding awards, March 31, 2026	1,421	$	14.20

The total fair value of RSUs vested was $5.5 million during the three months ended March 31, 2026.

Activity related to the Company’s Relative Total Shareholder Return RSUs (“RTSRs”) was as follows:


(in thousands, except weighted average grant price)	Number of Shares	Weighted Average Grant Price
Outstanding awards, December 31, 2025	360	$	15.77
Granted	118	13.42
Vested	—	—
Forfeited	—	—
Outstanding awards, March 31, 2026	478	$	15.19


	Three Months Ended March 31,
(in thousands)	2026		2025
Stock compensation expense	$	4,971	$	3,897
Capitalized stock compensation	(173)		(180)
Stock compensation expense, net	$	4,798	$	3,717

As of March 31, 2026, there was $12.0 million of total unrecognized compensation cost related to non-vested RSUs and RTSRs which is expected to be recognized over weighted average period of 2.7 years.

The following table indicates the computation of basic and diluted earnings (loss) per share:


	Three Months Ended March 31,
(in thousands, except per share amounts)	2026		2025
Calculation of net loss income per share:
Net loss	$	(15,751)	$	(9,132)

Amounts attributable to common shareholders
Net loss attributable to common shareholders	$	(17,328)	$	(10,604)

Basic and diluted weighted average shares outstanding	55,554		54,959

Per share amounts attributable to common shareholders
Net loss per share	$	(0.31)	$	(0.19)

The Company applies the two-class method when computing net loss per share attributable to common shareholders as the Company has issued preferred stock that meets the definition of a participating security. The Company considers Series A Preferred Stock to be a participating security as the holders are entitled to receive cumulative dividends.

The Company determines the dilutive impact of the Series A Preferred Stock (on an as-converted basis) and the equity awards by applying the if-converted method and the treasury stock method, respectively. The following table presents potentially dilutive instruments:


	Three Months Ended March 31,
(in thousands)	2026	2025
Potentially dilutive shares related to the Series A Preferred Stock	3,743	3,492
Potentially dilutive equity awards	687	450
Total potentially dilutive instruments	4,430	3,942

Potentially dilutive instruments were excluded from the calculation of diluted weighted average shares outstanding due to the fact that they were anti-dilutive as a result of the Company’s income loss for the periods.