Stock-Based Compensation |
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| Stock-Based Compensation | 9. Stock-Based Compensation Stock-Based Compensation Expense The following table presents the stock-based compensation expense recorded for equity classified awards for the three months ended March 31, 2024 and 2023:
Additionally, the stock-based compensation expense for liability-classified awards for the three months ended March 31, 2024 and 2023 was $0.2 million in both periods. Stock Options The following table summarizes option activity for the three months ended March 31, 2024:
Restricted Stock Units and Performance-Based Awards The following table summarizes unvested RSU and performance-based awards for the three months ended March 31, 2024:
The Company grants certain senior-level executives performance stock units which vest based on performance and time-based service conditions, which are referred to herein as performance-based awards. During the three months ended March 31, 2024, the Company granted 0.8 million performance-based awards with an aggregate grant date fair value of $55.0 million. Achievement at 200% of target is deemed probable and as a result, the Company expects to recognize a total of $110.0 million over the requisite service period of which $6.6 million has been recognized. The Company has recognized $20.7 million and $7.3 million in total stock-based compensation for all performance-based awards for the three months ended March 31, 2024 and 2023, respectively.
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