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Share-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Activity Under Share-Based Compensation Plans

The following table summarizes the activity for all SARs under the Company’s share-based compensation plans for the nine months ended September 30, 2024:

 

 

 

Number of Awards

 

 

Weighted-Average Exercise Price Per Award

 

 

Weighted- Average Remaining Contractual Term

 

Aggregate Intrinsic Value(1)

 

 

 

(in thousands)

 

 

 

 

 

 

 

(in millions)

 

Outstanding as of December 31, 2023(2)

 

 

4,340

 

 

$

19.85

 

 

6.4 years

 

$

2.4

 

Granted(3)

 

 

7,364

 

 

$

8.60

 

 

 

 

 

 

Exercised

 

 

—

 

 

$

—

 

 

 

 

 

 

Forfeited(4)

 

 

(606

)

 

$

22.59

 

 

 

 

 

 

Outstanding as of September 30, 2024(2)

 

 

11,098

 

 

$

12.24

 

 

7.3 years

 

$

—

 

Exercisable as of September 30, 2024(5)

 

 

1,937

 

 

$

23.22

 

 

3.5 years

 

$

—

 

Vested and expected to vest as of September 30, 2024(6)

 

 

7,532

 

 

$

14.15

 

 

7.3 years

 

$

—

 

 

(1)
The intrinsic value is the amount by which the current market value of the underlying stock exceeds the exercise price of the stock awards.
(2)
Includes 4.0 million and 0.6 million performance condition SARs as of September 30, 2024 and December 31, 2023, respectively.
(3)
Includes 3.4 million performance condition SARs granted to a consultant.
(4)
Includes less than 0.1 million performance condition SARs.
(5)
Includes 0.6 million performance condition SARs.
(6)
Includes 0.6 million performance condition SARs.
he following table summarizes the activities for all restricted stock units under the Company’s share-based compensation plans for the nine months ended September 30, 2024:

 

 

 

Number of Shares

 

 

Weighted- Average Grant Date Fair Value Per Share

 

 

 

(in thousands)

 

 

 

 

Outstanding and nonvested as of December 31, 2023(1)

 

 

6,118

 

 

$

20.76

 

Granted

 

 

5,416

 

 

$

9.42

 

Vested

 

 

(1,913

)

 

$

24.25

 

Forfeited(2)

 

 

(2,328

)

 

$

14.83

 

Outstanding and nonvested as of September 30, 2024(1)

 

 

7,293

 

 

$

13.32

 

Expected to vest as of September 30, 2024

 

 

6,914

 

 

$

12.71

 

 

(1)
Includes 190,412 and 307,116 performance-based restricted stock units as of September 30, 2024 and December 31, 2023, respectively, which represents the maximum amount that can vest.
(2)
Includes 116,704 performance-based restricted stock units.