Quarterly report pursuant to Section 13 or 15(d)

EQUITY-BASED COMPENSATION (Tables)

v3.22.2
EQUITY-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Equity-based Compensation, Valuation Assumptions Fair value of the RSUs is estimated on the date of grant using the Black-Scholes option-pricing model using the following assumptions:
June 30, 2022 June 30, 2021
Expected annual dividend yield —  % —  %
Expected volatility —  % 49.1  %
Risk-free rate of return —  % 0.1  %
Expected option term (years) 0 0.2
The fair value of the stock is estimated on the date of grant using the Black-Scholes option-pricing model using the following assumptions:
June 30, 2022 June 30, 2021
Expected annual dividend yield —  % —  %
Expected volatility —  % 47.5  %
Risk-free rate of return —  % 0.7  %
Expected option term (years) 0 4.5
Schedule of Restricted Stock Activity
A summary of restricted stock activity for the six months ended June 30, 2022 and 2021 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, 2020 762  $ 1.39  2.12
Granted 143  11.90 
Vested (245) 1.20 
Forfeited (26) 3.92 
Non-vested at June 30, 2021 634  $ 2.10  2.08
Number of RSU's Weighted average grant date fair value Weighted average remaining recognition period
Non-vested at December 31, 2021 2,671  $ 14.33  3.38
Granted 1,211  7.45 
Vested (543) 8.31 
Forfeited (23) 17.58 
Non-vested at June 30, 2022 3,316  $ 12.53  3.17
Schedule of Stock Option Activity
A summary of stock option activity for the six months ended June 30, 2022 and 2021 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, 2020   $  
Granted 613  28.90  7.00
Exercised —  —  — 
Forfeited —  —  — 
Balance, June 30, 2021 613  $ 28.90  6.75
Number of Options Weighted Average Exercise Price Weighted
Average
Remaining
Contractual
Term
(Years)
Balance, December 31, 2021 613  $ 28.90  6.21
Granted —  —  — 
Exercised —  —  — 
Forfeited —  —  — 
Balance, June 30, 2022 613  $ 28.90  4.55
Exercisable 613     
Schedule of Performance-Based Restricted Stock Activity
A summary of the PSU activity for the six months ended June 30, 2022 and 2021 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, 2020 —  $ — 
Granted —  — 
Vested —  — 
Forfeited —  — 
Balance, June 30, 2021   $  
Number of PSUs Weighted Average Exercise Price Weighted
Average
Remaining
Contractual
Term
(Years)
Balance, December 31, 2021 424  $ 18.65  2.00
Granted 900  7.36 
Vested —  — 
Forfeited (14) 19.33 
Balance, June 30, 2022 1,310  $ 10.88  2.00