Annual report pursuant to Section 13 and 15(d)

Equity Compensation (Tables)

v3.22.4
Equity Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Performance-based and Time-based Profit Interests Activity

The following table summarizes activity for profit interest units:

 

 

 

Performance-based profit interests

 

 

Time-based profit interests

 

 

 

Number of units

 

 

Number of units

 

Outstanding at January 1, 2020

 

 

1,879

 

 

 

829

 

Issued

 

 

53

 

 

 

53

 

Vested

 

—

 

 

 

(405

)

Forfeited, expired, or canceled

 

 

—

 

 

 

—

 

Outstanding at December 31, 2020

 

 

1,932

 

 

 

477

 

Issued

 

 

3

 

 

 

3

 

Vested

 

 

—

 

 

 

(406

)

Forfeited, expired, or canceled

 

 

—

 

 

 

—

 

Outstanding at December 31, 2021

 

 

1,935

 

 

 

74

 

Issued

 

 

—

 

 

 

—

 

Vested

 

 

(1,921

)

 

 

(61

)

Forfeited, expired, or canceled

 

 

(14

)

 

 

—

 

Outstanding at December 31, 2022

 

 

—

 

 

 

13

 

Expected to vest

 

 

—

 

 

 

13

 

 
Summary of Restricted Stock Units Activity

The following table summarizes activity for RSUs for the years ended December 31, 2022 and 2021:

 

 

 

Shares

 

 

Weighted Average
Grant Date Fair
Value per Share

 

Outstanding at January 1, 2021

 

 

—

 

 

$

—

 

Issued

 

 

1,123

 

 

 

13.76

 

Vested

 

—

 

 

 

—

 

Forfeited, expired, or canceled

 

 

—

 

 

 

—

 

Outstanding at December 31, 2021

 

 

1,123

 

 

 

13.76

 

Issued

 

 

1,642

 

 

 

19.82

 

Vested

 

 

(487

)

 

 

13.61

 

Forfeited, expired, or canceled

 

 

(176

)

 

 

18.00

 

Outstanding at December 31, 2022

 

 

2,102

 

 

$

18.25

 
Time-based Profit Interest Units  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Assumptions Used to Calculate Fair Value of Time-based Grants The fair value of the time-based grants was calculated using a Black-Scholes option-pricing model with the following assumptions:

 

 

 

Years Ended December 31,

 

 

2021

 

2020

Risk free interest rate

 

0.05% – 0.16

 

%

 

0.15

 

%

Weighted average volatility

 

 

47.3

 

%

 

39.6

 

%

Dividend yield

 

 

—

 

%

 

 

—

 

%

Expected terms (in years) (1)

 

 

0.86

 

 

 

 

1.31

 

 

(1) The Company has limited historical information regarding the expected term. Accordingly, the Company determined the expected life of the units using the simplified method.