v3.25.4
Equity-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Payments Liability
The following table presents the changes in the share-based payments liability for the years ended December 31 (in millions):
 202520242023
Balance, beginning of period$25.4 $23.0 $19.4 
Amortization and revaluation of granted awards12.8 10.5 6.2 
Repurchases (cash-settled)(1.2)(8.1)(2.6)
Balance, end of period$37.0 $25.4 $23.0 
Schedule of Activity of Share-based Compensation
The following table summarizes the activity related to restricted stock units:
202520242023
Acadian Asset Management Inc. RSUs
Number of sharesWeighted average grant date fair value per shareNumber of sharesWeighted average grant date fair value per shareNumber of sharesWeighted average grant date fair value per share
Outstanding at beginning of the year
62,689 $22.80 48,797 $24.19 71,664 $20.95 
Granted during the year43,493 26.99 44,639 21.68 49,494 24.04 
Forfeited during the year— — — — (15,823)25.05 
Vested during the year(38,461)23.06 (30,747)23.54 (56,538)19.72 
Outstanding at end of the year
67,721 $25.34 62,689 $22.80 48,797 $24.19 
The following tables summarizes the activity related to the Company’s stock option awards for 2024 and 2023, respectively:
2024
Stock OptionsWeighted average exercise priceWeighted average remaining contractual term (in years)Aggregate intrinsic value
Outstanding at beginning of the year
1,659,000 $10.64 0.8
Granted during the year
— — 
Forfeited during the year
— — 
Exercised during the year
(1,659,000)10.64 
Outstanding at end of the year
— $— 0.0$— 
Exercisable at end of the year
— $— 0.0$— 
2023
Stock OptionsWeighted average exercise priceWeighted average remaining contractual term (in years)Aggregate intrinsic value
Outstanding at beginning of the year
2,470,463 $10.97 1.6
Granted during the year
— — 
Forfeited during the year
(75,000)10.00 
Exercised during the year
(736,463)11.80 
Outstanding at end of the year
1,659,000 $10.64 0.8$14,128,440 
Exercisable at end of the year
1,659,000 $10.64 0.8$14,128,440