Quarterly report pursuant to Section 13 or 15(d)

EQUITY-BASED COMPENSATION (Tables)

v3.21.2
EQUITY-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Equity-based Compensation, Valuation Assumptions The fair value of the stock is estimated on the date of grant using the Black-Scholes option-pricing model using the following assumptions:
2021 2020
Expected annual dividend yield —  % —  %
Expected volatility 49.1  %
42.1 - 63.3%
Risk-free rate of return 0.1  %
1.6 - 1.7%
Expected option term (years) 0.2
0.8 - 4.4
The fair value of the stock is estimated on the date of grant using the Black-Scholes option-pricing model using the following assumptions:
2021 2020
Expected annual dividend yield —  % —  %
Expected volatility 47.5  % —  %
Risk-free rate of return 0.7  % —  %
Expected option term (years) 4.5 0
The fair value and derived service period of the Market PSUs is estimated on the date of grant using a Monte Carlo simulation with the following assumptions:
2021 2020
Expected annual dividend yield —  % —  %
Expected volatility 55.0  % —  %
Risk-free rate of return —  % —  %
Expected option term (years) 2.7 0.0
Schedule of Restricted Stock Activity
A summary of restricted stock activity for the nine months ended September 30, 2021 and 2020 is as follows (in thousands except per share data):
Number of RSU's Weighted average grant date fair value Weighted average remaining recognition period
Non-vested at December 31, 2019 73  $ 2.21 
Recapitalized 607  (1.97)
Non-vested at December 31, 2019 (after effect of recapitalization) 680  0.24 
Granted 1,937  1.73 
Vested (1,777) 1.37 
Forfeited (11) 1.95 
Non-vested at September 30, 2020 829  $ 1.27  2.18
Number of RSU's Weighted average grant date fair value Weighted average remaining recognition period
Non-vested at December 31, 2020 91  $ 11.58 
Recapitalization 671  (10.19)
Non-vested at December 31, 2020 (after effect of recapitalization) 762  1.39 
Granted 2,353  18.88 
Vested (699) 9.83 
Forfeited (26) 3.92 
Non-vested at September 30, 2021 2,390  $ 16.12  2.63
Schedule of Stock Option Activity
A summary of stock option activity for the nine months ended September 30, 2021 and 2020 is as follows (in thousands except per share data):
Number of Options Weighted Average Exercise Price Weighted
Average
Remaining
Contractual
Term
(Years)
Balance, December 31, 2019 —  $ — 
Granted —  —  — 
Exercised —  —  — 
Forfeited —  —  — 
Balance, September 30, 2020   $   — 
Number of Options Weighted Average Exercise Price Weighted
Average
Remaining
Contractual
Term
(Years)
Balance, December 31, 2020 —  $ — 
Granted 613  28.90  7
Exercised —  —  — 
Forfeited —  —  — 
Balance, September 30, 2021 613  $ 28.90  6.46
Exercisable —  —  — 
Schedule of Performance-Based Restricted Stock Activity
A summary of the PSU activity for the nine months ended September 30, 2021 and 2020 is as follows (in thousands except per share data):
Number of PSUs Weighted Average Exercise Price Weighted
Average
Remaining
Contractual
Term
(Years)
Balance, December 31, 2019 —  $ — 
Granted —  —  — 
Vested —  —  — 
Forfeited —  —  — 
Balance, September 30, 2020   $   — 
Number of PSUs Weighted Average Exercise Price Weighted
Average
Remaining
Contractual
Term
(Years)
Balance, December 31, 2020 —  $ — 
Granted 424  18.65  — 
Vested —  —  — 
Forfeited —  —  — 
Balance, September 30, 2021 424  $ 18.65  2
Exercisable —  —  —