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]  
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:
Expected option term (years) 6
Expected volatility 32.80  %
Risk-free rate of return
0.93%-1.15%
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 March 31, 2022, and changes during the three months ended March 31, 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 —  — 
Vested —  — 
Forfeited (41,850) 12.72 
Unvested at March 31, 2022
 1,676,100  $ 11.63  1.6 $ 14,213 
Summary of Stock Compensation Expense
The table below presents the equity-based compensation expense recorded during the following periods:
Three Months Ended
March 31, 2022 March 31, 2021
Cost of Sales
Incentive Units $ 181  $ — 
Stock Options 12  — 
Restricted Stock Units 627  — 
Total cost of sales $ 820  $ — 
Selling, general and administrative expenses
Incentive Units 2,171  — 
Stock Options 409  — 
Restricted Stock units 1,011  — 
Total selling, general and administrative expenses $ 3,591  $ — 
Total equity-based compensation expense $ 4,411  $ —