The following table presents share-based compensation expense (benefit) and unrecognized compensation cost:


	Share-Based Compensation				Unrecognized Compensation Cost as of March 31, 2024
	Three Months Ended March 31,
	2024		2023

Awards issued pursuant to LTIP:
Stock option awards (a)	$	(1,688)	$	(5,585)	$	5,278
Performance stock units (a)	(1,730)		(7,198)		5,392
Restricted share units	9,752		3,396		80,984
Cash denominated performance awards	5,292		326		35,932
Other	2,131		6,438		4,251
	$	13,757	$	(2,623)	$	131,837

(a)The benefit for 2023 includes credits due to the modification of awards to certain former executive officers and other forfeitures.


			Number of Units
Balance at December 31, 2023			22,493,888
Granted			16,268,960
Vested			(3,266,648)
Forfeited			(1,504,386)
Balance at March 31, 2024			33,991,814

The following table summarizes activity related to cash denominated performance award granted to our employees:


			Number of Units
Balance at December 31, 2023			48,492,500


Forfeited			(2,740,000)
Balance at March 31, 2024			45,752,500

The deferred cash denominated performance awards cliff vest in three years. The payout of these awards can range from 0% to 200% of the target value based on the Company’s achievement of certain revenue and Adjusted EBITDA targets during a three year performance period. These awards will be settled in shares of the Company's Class A common stock, or cash, at the Company's option.

As of March 31, 2024, 494,286 Class A-1 management incentive units and 250,829 Class A-2 management incentive units ("Award Units") granted to certain employees of Lightpath were outstanding. Vested units will be redeemed upon a partial exit, a change in control or the completion of an initial public offering, as defined in the Holdings LLC agreement. The grant date fair value of the Award Units outstanding aggregated $29,438 and will be expensed in the period in which a partial exit or a liquidity event is consummated.