Quarterly report [Sections 13 or 15(d)]

Stock-Based Compensation (Tables)

v3.26.3
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activities
Following is a summary of stock option activities for the nine months ended September 30, 2026:
Options Weighted
Average
Exercise Price
Weighted
Average
Grant Date
Fair Value
Weighted
Average
Remaining
Life
(years)
Intrinsic
Value
Outstanding – January 1, 2026 2,896,208  $ 0.19  $ 0.32  3.0
Exercised (325,960) 0.18  0.13  $ 1,572 
Outstanding – September 30, 2026
 2,570,248  $ 0.19  $ 0.35  2.1 $ 12,652 
Exercisable as of September 30, 2026
 2,570,248  $ 0.19  $ 0.35  2.1 $ 12,652 
Summary of Restricted Stock Activity
Following is a summary of RSU activities for the nine months ended September 30, 2026:

 RSUs
Weighted Average Grant Date
Fair Value
Non-vested – January 1, 2026 9,745,980  $ 3.84 
Granted - RSUs
 1,688,302  4.50 
Granted - PSUs 3,894,192  4.10 
Vested
 (3,967,053) 3.55 
Forfeited
 (237,249) 3.65 
Non-vested – September 30, 2026 (1)
 11,124,172  $ 4.14 
(1) Includes 5,348,747 of PSUs that will vest subject primarily to the achievement of Adjusted EBITDA and Free Cash Flow goals by the Company; and 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. See Note 5 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 for further information.
Summary of Stock-Based Compensation Expense
Stock-based compensation expense for stock options and restricted stock units in the unaudited interim condensed consolidated statements of operations is summarized as follows:
Three Months Ended September 30, Nine Months Ended
September 30,
2026 2025 2026 2025
Selling, general and administrative expense (1) $ 5,049  $ 1,646  $ 13,790  $ 10,372 
(1) The three and nine months ended September 30, 2025 include a credit of $2,873 from the reversal of previously recognized expense on unvested awards held by the former Chief Executive Officer, which were modified in connection with the sale of the Passenger business.