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 | —% |
|