Quarterly report [Sections 13 or 15(d)]

SHARE-BASED COMPENSATION AND PROFITS INTERESTS (Tables)

v3.25.2
SHARE-BASED COMPENSATION AND PROFITS INTERESTS (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Compensation and Profits Interest [Abstract]  
Schedule of Restricted Stock activities
The following table summarizes Restricted Stock activity for the six months ended June 30, 2025:
Restricted
Stock
Weighted-Average
 Fair Value per Share
Balance as of December 31, 2024 8,524,846  $ 15.02 
Issued 2,531,023  8.42 
Vested (1,635,065) 16.60 
Forfeited (208,385) 12.53 
Balance as of June 30, 2025 9,212,419  $ 12.98 
Schedule of Share Based Compensation Expense
The following table summarizes our share-based compensation expense associated with our profits interests awards, Restricted Stock, and RSUs, which is recorded in employee compensation and benefits on the condensed consolidated statements of operations and comprehensive income (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2025 2024 2025 2024
Profits interests award shares $ 2,305  $ 2,721  $ 4,638  $ 5,879 
Restricted Stock and RSUs 7,700  10,011  16,617  18,663 
Total share-based compensation $ 10,005  $ 12,732  $ 21,255  $ 24,542 
Schedule of Unrecognized Compensation Cost
As of June 30, 2025, unrecognized share-based compensation on Restricted Stock, RSUs and profits interests awards is expected to be recognized as follows (in thousands):
As of June 30, 2025
Total Restricted Stock
and RSUs
Profits Interests
Awards
Remainder of 2025 $ 22,052  $ 17,309  $ 4,743 
2026 24,056  17,778  6,278 
2027 9,520  6,419  3,101 
2028 2,009  1,372  637 
2029 — 
Total $ 57,640  $ 42,881  $ 14,759