Annual report [Section 13 and 15(d), not S-K Item 405]

Stock-Based Compensation (Tables)

v3.25.4
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activities
Following is a summary of stock option activities for the year ended December 31, 2025:
Options Weighted
Average
Exercise Price
Weighted
Average
Grant Date
Fair Value
Weighted
Average
Remaining
Life
(years)
Intrinsic
Value
Outstanding – January 1, 2025 5,124,516  $ 0.19  $ 0.23  3.0
Exercised (2,188,268) 0.19  0.12  $ 7,084 
Forfeited (40,040) 0.25  0.17 
Outstanding – December 31, 2025
 2,896,208  $ 0.19  $ 0.32  3.0 $ 13,390 
Exercisable as of December 31, 2025
 2,896,208  $ 0.19  $ 0.32  3.0 $ 13,390 
Summary of Restricted Stock Activity
Following is a summary of restricted stock unit activities for the year ended December 31, 2025:

 Restricted Stock Units
Weighted Average Grant Date
Fair Value
Non-vested – January 1, 2025 9,286,110  $ 4.10 
Granted - RSUs
 2,600,554  3.35 
Granted - PSUs 3,366,574  3.49 
Vested
 (4,284,863) 4.07 
Forfeited
 (1,222,395) 3.71 
Non-vested – December 31, 2025 (1)
 9,745,980  $ 3.84 
(1) 4,029,328 are PSUs that will vest subject to the achievement of Adjusted EBITDA and Free Cash Flow goals by the Company as discussed above. Includes 2,950,219 awards (RSUs and PSUs) held by the Company’s former Chief Executive Officer that were modified in connection with the sale of the Passenger business. The modification changed the vesting conditions but did not affect the number of awards outstanding. See Note 5 for additional information.
Summary of Stock-Based Compensation Expense
Stock-based compensation expense for stock options and restricted stock units in the consolidated statements of operations is summarized as follows:
For the Years Ended
2025 2024
Selling, general and administrative expense (1) $ 16,958  $ 18,471 
(1) Year ended 2025 includes a credit of $2,873 due to the modification of awards as described above.