Quarterly report pursuant to Section 13 or 15(d)

Equity-based Compensation (Tables)

v3.22.1
Equity-based Compensation (Tables)
3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Option, Activity
A summary of the Company's time-based stock option activity under the 2021 Plan was as follows:
Number of Options
Weighted Average Exercise Price
Aggregate Intrinsic Value
Balance as of December 31, 2021
273,026  $ 9.50  $ — 
Granted
—  — 
Vested
—  — 
Forfeited/Repurchased
—  — 
Balance as of March 31, 2022
273,026  9.50  — 
Vested as of March 31, 2022
— 
Share-based Payment Arrangement, Restricted Stock Unit, Activity
A summary of the Company's RSU activity under the 2021 Plan was as follows:
Number of Shares
Weighted Average
Grant Date
Fair Value
Balance as of December 31, 2021
915,480  $ 10.04 
Granted
78,320  6.30 
Vested
—  0.00 
Forfeited/Repurchased
(40,525) 9.99 
Balance as of March 31, 2022
953,275  $ 9.74 
The following table summarizes time-based incentive unit activity under the 2018 Plan:
Number of Units
Weighted Average
Grant Date
Fair value
Weighted Average Participation Threshold
Aggregate Intrinsic Value
Balance as of December 31, 2021
5,975,813  $ 1.16  $ 3.04  $ 14,162 
Granted
—  —  — 
Vested
(458,155) 1.42  1.37 
Forfeited/Repurchased
(87,214) 0.42  1.07 

Balance as of March 31, 2022
5,430,444  $ 1.15  $ 3.21  $ 1,865 
Vested as of March 31, 2022
3,820,425 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
While there were no time-based incentive units granted under the 2018 plan during the three months ended March 31, 2022, the assumptions that the Company used to determine the grant date fair value of time-based incentive units during the three months ended March 31, 2021 were as follows, presented on a weighted-average basis:
Three Months Ended March 31, 2021
Risk free interest rate
0.12  %
Expected volatility
45  %
Expected dividend yield
%
Expected term
1.60 years
Summarizes The Company’s Equity-based Compensation Expense
The following table summarizes the Company’s equity-based compensation expense by award type for all Plans:
Three Months Ended March 31,
2022 2021
Stock options $ 122  $ — 
RSUs 643  — 
Time-based incentive units 603  523 
Total $ 1,368  $ 523