v3.24.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Assumptions Used to Measure Fair Value The fair value of the stock options issued was measured using the following assumptions:
 
Year ended December 31,
 202320222021
Risk free interest rate4.1 %3.1 %1.1 %
Expected term (in years)5.95.65.8
Expected volatility55.7 %53.0 %43.0 %
Expected dividend yield0.0 %0.0 %0.0 %
Schedule of Stock Option Activity
The following table shows stock award activity for the years ended December 31, 2023 and 2022:
 
 Time-basedPSPLTIPTotalWeighted
Average
Exercise
Price of
 Options		Weighted
Average
FMV
of
 RSUs		Weighted
Average
Remaining Term
of Options
 (Years)		Aggregate Intrinsic
Value of Options
 OptionsRSUsOptionsRSUsOptionsRSUs     
Outstanding at December 31, 202114,695 4,195 2,354 1,488 11,671 19,343 53,746 $5.46 $49.94 6.34$622,108 
Granted400 15,254 — 12,523 — 1,390 29,567 28.24 17.79 — — 
Exercised options / vested RSUs(2,672)(2,913)(76)(2,671)(519)(6,251)(15,102)2.68 43.19 — — 
Change in awards due to performance-based multiplier— — — 1,806 — — 1,806 — 33.69 — — 
Forfeited(164)(1,263)(5)(27)— (618)(2,077)4.73 34.94 — — 
Outstanding at December 31, 202212,259 15,273 2,273 13,119 11,152 13,864 67,940 $6.17 $29.64 5.49$192,062 
Granted800 11,629 — 2,240 — 209 14,878 29.02 19.55 — — 
Exercised options / vested RSUs(2,414)(7,211)(884)(1,715)(646)(12,310)(25,180)4.16 42.29 — — 
Change in awards due to performance-based multiplier— — — 1,141 — — 1,141 — 60.25 — — 
Forfeited(285)(1,810)— (976)— (508)(3,579)4.39 21.18 — — 
Outstanding at December 31, 202310,360 17,881 1,389 13,809 10,506 1,255 55,200 $7.10 $21.01 4.59$645,885 


The following table provides additional information for stock option awards outstanding as of December 31, 2023:

Awards OutstandingWeighted Average Remaining Term of Options (Years)Aggregate Intrinsic ValueWeighted Average Exercise Price of Options
Stock options exercisable21,7084.5$643,350 $6.44 
Stock options remaining to vest5478.9$2,535 $33.10 
Summary of Stock Compensation Expense The following table shows stock-based compensation cost for the years ended December 31, 2023, 2022 and 2021:
 
Year ended Year ended Year ended
December 31, 2023December 31, 2022December 31, 2021
 OptionsRSUs
Total(3)
OptionsRSUsTotalOptionsRSUsTotal
Time Based (1)
$10,178 $183,937 $194,115 $15,222 $103,478 $118,700 $14,654 $61,085 $75,739 
PSP (2)
— 126,071 126,071 — 90,180 90,180 — 82,089 82,089 
LTIP (2)
— 78,277 78,277 — 369,919 369,919 — 525,465 525,465 
Total$10,178 $388,285 $398,463 $15,222 $563,577 $578,799 $14,654 $668,639 $683,293 
 
(1) Time-based awards vest and are expensed over a defined service period.
(2) PSP and LTIP awards vest based on defined performance criteria and are expensed based on the probability of achieving such criteria.
(3) Total expenses includes $20.2 million of liability-classified awards recorded within accounts payable and accrued liabilities in the consolidated balance sheet as of December 31, 2023.