v3.24.3
Stock-Based Compensation - Valuation Assumptions (Details)
9 Months Ended
Sep. 30, 2024
$ / shares
Stock Appreciation Rights (SARs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Granted (in dollars per share) $ 4.06
Market-Vesting SARs  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-Based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions
For the Market-Vesting SARs granted during the nine months ended September 30, 2024, the assumptions used in the Monte Carlo simulation model included the following:
Nine Months Ended
September 30, 2024
Expected volatility rate
58.2% - 58.9%
Risk-free interest rate
4.1% - 4.7%
Grant-date fair value per share
$3.30 - $6.15
Market-Vesting SARs | Minimum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate 58.20%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate 4.10%
Granted (in dollars per share) $ 3.30
Market-Vesting SARs | Maximum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate 58.90%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate 4.70%
Granted (in dollars per share) $ 6.15
Time-Vesting SARs  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate 0.00%
Schedule of Share-Based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions
The Company determined the grant-date fair value of Time-Vesting SARs using a Black-Scholes option-pricing model, calculated as the difference in fair value between a SAR with a strike price at the exercise price and a SAR with the strike price at its maximum appreciation, using the following assumptions:
Nine Months Ended
September 30, 2024
Expected volatility rate
55.0% - 59.2%
Expected term (in years)
3.7 - 9.2
Risk-free interest rate
3.4% - 3.7%
Expected dividend yield—%
Time-Vesting SARs | Minimum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate 55.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate 3.40%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term 3 years 8 months 12 days
Time-Vesting SARs | Maximum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate 59.20%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate 3.70%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term 9 years 2 months 12 days