Quarterly report pursuant to Section 13 or 15(d)

Equity-Based Compensation (Tables)

v3.22.2.2
Equity-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Value Assumptions
The fair value of options granted under the Plan was estimated on the grant date under the Black-Scholes OPM using the following assumptions:
2021 Grants Modified Awards
Expected option term (years) 6 1.5
Expected volatility 32.80  % 45.90  %
Risk-free rate of return
0.93%-1.15%
 2.41  %
Expected annual dividend yield —  % —  %
Schedule of Nonvested Restricted Stock Units Activity
A summary of the status of the Company’s restricted stock units as of June 30, 2022, and changes during the six months ended June 30, 2022, is presented as follows:
Restricted Shares Weighted-Average Grant Date Fair Value per Share Weighted-Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value
Unvested at December 31, 2021 1,717,950  $ 11.66  1.8 $ 11,596 
Granted 288,876  4.06 
Vested (124,401) 4.12 
Forfeited (152,500) 12.72 
Unvested at June 30, 2022
 1,729,925  $ 10.89  1.3 $ 5,414 
Summary of Stock Compensation Expense
The table below presents the equity-based compensation expense recorded during the following periods:
Three Months Ended Six Months Ended
June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021
Cost of Sales
Incentive Units $ —  $ —  $ 181  $ — 
Stock Options 13  —  25  — 
Restricted Stock Units 539  —  1,166  — 
Total cost of sales $ 552  $ —  $ 1,372  $ — 
Selling, general and administrative expenses
Incentive Units —  —  2,171  — 
Stock Options 279  —  688  — 
Restricted Stock Units 912  —  1,923  — 
Total selling, general and administrative expenses $ 1,191  $ —  $ 4,782  $ — 
Total equity-based compensation expense $ 1,743  $ —  $ 6,154  $ —