Equity-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

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	$	—