Equity-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Option Activity

Stock option activity during 2023 and 2024 was as follows:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Options outstanding at January 1, 2023		979,277		$	46.27
Options granted		296,340			78.94
Options exercised		(198,527	)		41.29
Options cancelled		(140,545	)		55.95
Options outstanding at December 31, 2023		936,545			56.21
Options granted		4,000			75.30
Options exercised		(158,120	)		45.46
Options cancelled		(73,698	)		67.12
Options outstanding at September 30, 2024		708,727		$	57.58		6.61	$	7,848
Options exercisable at September 30, 2024		392,054		$	48.71		5.57	$	6,685

Schedule of Stock Options Valuation Assumptions

The following table summarizes the grant-date fair value of options and the assumptions used to develop the fair value estimates for options granted during the nine months ended September 30, 2024 and year ended December 31, 2023:

	September 30, 2024			December 31, 2023
Weighted average grant-date fair value of options	$	27.24		$	30.99
Risk-free interest rate		4.4	%		4.2	%
Expected volatility		33	%		37	%
Expected life (in years)		4.8			5.0

Restricted Stock Activity

Restricted stock unit activity during 2023 and 2024 was as follows:

	Number of Shares			Weighted Average Grant-Date Fair Value
Unvested at January 1, 2023		1,045,202		$	54.89
Granted		587,239			76.32
Cancelled		(198,740	)		57.21
Vested		(403,223	)		50.48
Unvested at December 31, 2023		1,030,478		$	68.38
Granted		535,697			75.89
Cancelled		(110,380	)		72.23
Vested		(342,259	)		62.76
Unvested at September 30, 2024		1,113,536		$	73.34

Performance stock unit activity

Performance stock unit activity during 2023 and 2024 was as follows:

	Number of Units			Weighted Average Grant-Date Fair Value
Unvested at January 1, 2023		1,273,800		$	20.69
Granted		177,509			70.98
Performance adjustment		407,825			17.69
Cancelled		(114,908	)		69.07
Vested		(1,408,195	)		10.60
Unvested at December 31, 2023		336,031		$	69.35
Granted		78,955			68.04
Performance adjustment		(9,241	)		72.99
Cancelled		(15,723	)		70.37
Vested		(98,504	)		61.52
Unvested at September 30, 2024		291,518		$	71.47