SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2025

The assumptions used in determining the fair value of the SARs on the modification date were as follows:


	Time-Based			Market and Performance-Based
Expected term (in years)	2.50			1.85
Expected volatility	30		%	30		%
Risk-free interest rate	1.68		%	1.58		%
Expected dividend yield	—			—
Share price on valuation date	$	17.06		$	17.06

The fair value of time-based options granted was calculated using the following assumptions during the years ended December 31, 2025, 2024 and 2023:

The following table summarizes the stock options and stock-settled SARs activity for the year ended December 31, 2025:


	Time-based options and stock-settled SARs						Performance-based options
	Number of options and stock-settled SARs	Weighted Average Exercise Price Per Share		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value		Number of options	Weighted Average Exercise Price Per Share		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding at December 31, 2024	11,243,440	$	2.51				520,041	$	1.51
Granted	—	—					—	—
Cancelled/Forfeited	(1,099,628)	3.77					(240,625)	1.21
Options Exercised and Issued for Shares	(692,681)	0.76					—	—



Outstanding at December 31, 2025	9,451,131	$	2.49	6.0	$	770	279,416	$	1.76	4.3	$	42
Vested and Exercisable	6,228,962	$	2.65	6.0	$	252	279,416	$	1.76	4.3	$	42

The following table summarizes additional information with respect to stock options and SARs:


	Year Ended December 31,
	2025		2024		2023
Weighted average grant date fair value per share of options granted	$	—	$	—	$	2.58
Intrinsic value of options and stock-settled SARs exercised	$	498	$	1,421	$	39,098

The table below summarizes the status of the Company’s time-based RSUs activity for the year ended December 31, 2025:


	Time-based RSUs
	Number of Awards	Weighted Average Grant-Date Fair Value Per Share
Unvested Shares at December 31, 2024	13,033,247	$	2.07
Granted	12,996,176	1.45
Vested	(4,159,077)	2.16
Forfeited	(2,557,382)	1.89
Unvested Shares at December 31, 2025	19,312,964	$	1.66

The following table summarizes additional information with respect to RSUs:


	Year Ended December 31,
	2025		2024		2023
Weighted average grant date fair value per share of RSUs granted	$	1.45	$	1.77	$	3.00
Total grant date fair value of RSUs vested	$	8,967	$	6,872	$	1,450

The following table summarizes share-based compensation expense for the years ended December 31, 2025, 2024 and 2023:


	Year Ended December 31,
	2025		2024		2023
Share-based compensation expense	$	13,285	$	11,123	$	9,072
Income tax benefit	$	1,925	$	1,836	$	2,015

The following table summarizes unrecognized compensation costs from share-based compensation related to non-vested awards as of December 31, 2025:


	Unrecognized share-based compensation expense		Weighted-Average Remaining Recognition Period (in years)
Options	$	2,668	1.9
RSUs	26,436		2.7
SARs	64		0.2
Total unrecognized share-based compensation expense	$	29,168

OLAPLEX HOLDINGS, INC. 10-K