Quarterly report pursuant to Section 13 or 15(d)

Share-based Compensation and Profits Interests (Tables)

v3.22.2
Share-based Compensation and Profits Interests (Tables)
6 Months Ended
Jun. 30, 2022
SHARE-BASED COMPENSATION AND PROFITS INTERESTS [Abstract]  
Summary of Restricted Stock activities The following summarizes Restricted Stock activity for the six months ended June 30, 2022 (in thousands, except per share data):
Restricted
Stock
Weighted-Average Fair Value per Share
Balance as of December 31, 2021 2,417,662  $ 15.82 
Issued 2,945,775  24.49 
Vested (299,152) 23.83 
Forfeited (64,586) 15.79 
Balance as of June 30, 2022 4,999,699  $ 20.45 
Summary of Share Based Compensation Expense
The following table summarizes our share-based compensation expense associated with our profits interests awards, Restricted Stock, and RSUs, which is recorded in employee compensation and benefits on the condensed consolidated and combined statement of operations and comprehensive income (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2022 2021 2022 2021
Antidulutive profits interest awards $ —  $ 13,609  $ —  $ 13,609 
Profits interests award shares $ 841  $ 1,015  $ 2,457  $ 1,856 
Restricted Stock and RSUs 5,712  —  11,361  — 
Total share-based compensation $ 6,553  $ 14,624  $ 13,818  $ 15,465 
Summary of Unrecognized Compensation Cost
As of June 30, 2022, unrecognized share-based compensation on Restricted Stock, RSUs and profits interests awards is expected to be recognized as follows (in thousands):
As of June 30, 2022
Total Restricted Stock
and RSUs
Profits interest
awards
Remainder of 2022 $ 13,334  $ 11,678  $ 1,656 
2023 25,807  22,966  2,841 
2024 23,334  21,277  2,057 
2025 13,056  12,102  954 
2026 5,441  5,127  314 
Thereafter 82  82  — 
Total $ 81,054  $ 73,232  $ 7,822