v3.25.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
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,
 202420232022
Weighted average risk free interest rate4.6 %4.1 %3.1 %
Weighted average expected term (in years)3.65.95.6
Weighted average expected volatility45.1 %55.7 %53.0 %
Weighted average 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, 2024 and 2023:
 
OptionsRSUsTotalWeighted
Average
Exercise
Price of
Options		Weighted
Average
FMV
of
 RSUs		Weighted
Average
Remaining Term
of Options
 (Years)		Aggregate
Intrinsic
 Value
Time BasedPSPLTIP
Outstanding at December 31, 202225,684 15,273 13,119 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(3,944)(7,211)(1,715)(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, 202322,255 17,881 13,809 1,255 55,200 $7.10 $21.01 4.59$645,885 
Granted761 7,789 1,449 — 9,999 31.85 42.48 — — 
Exercised options / vested RSUs(2,227)(7,841)— (261)(10,329)4.17 26.11 — — 
Change in awards due to
performance-based multiplier		— — — — — — — — — 
Forfeited(14)(1,576)(752)(135)(2,477)16.99 23.34 — — 
Outstanding at December 31, 202420,775 16,253 14,506 859 52,393 $8.31 $23.75 3.70621,065 


The following table provides additional information for stock option awards outstanding as of December 31, 2024:

Awards OutstandingWeighted Average Remaining Term of Options (Years)Aggregate Intrinsic ValueWeighted Average Exercise Price of Options
Stock options exercisable20,2193.5$618,573 $7.45 
Stock options remaining to vest5569.1$2,492 $39.54 
Summary of Stock Compensation Expense The following table shows stock-based compensation cost for the years ended December 31, 2024, 2023 and 2022:
 
Year Ended Year EndedYear Ended
December 31, 2024December 31, 2023December 31, 2022
 OptionsRSUs
Total(3)
OptionsRSUs
Total(3)
OptionsRSUsTotal
Time Based (1)
$13,257 $193,860 $207,117 $10,178 $183,937 $194,115 $15,222 $103,478 $118,700 
PSP (2)
— 169,832 169,832 — 126,071 126,071 — 90,180 90,180 
LTIP (2)
— 4,418 4,418 — 78,277 78,277 — 369,919 369,919 
Total$13,257 $368,110 $381,367 $10,178 $388,285 $398,463 $15,222 $563,577 $578,799 
 
(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 $17.3 million and $20.2 million of liability-classified awards recorded within accounts payable and accrued liabilities in the consolidated balance sheet as of December 31, 2024 and 2023, respectively. During the year ended December 31, 2024, we capitalized stock-based compensation primarily associated with the development of software for internal-use of $17.8 million.