Annual report pursuant to Section 13 and 15(d)

Share-based Compensation and Profits Interests (Tables)

v3.22.0.1
Share-based Compensation and Profits Interests (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
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 consolidated and combined statement of operations and comprehensive income:

 

 

 

Year Ended December 31,

 

(in thousands)

 

2021

 

 

2020

 

 

2019

 

Antidilutive profits interests awards

 

$

13,609

 

 

$

4,350

 

 

$

11,380

 

Profits interests award shares

 

 

3,785

 

 

 

1,808

 

 

 

645

 

Restricted Stock and RSUs

 

 

4,114

 

 

 

 

 

 

 

Total share-based compensation

 

$

21,508

 

 

$

6,158

 

 

$

12,025

 

 

Summary of Unrecognized Compensation Cost

As of December 31, 2021, unrecognized share-based compensation on Restricted Stock, RSUs and profits interests awards is expected to be recognized as follows:

 

 

 

Year Ended December 31,

 

 

 

 

 

 

 

 

 

Profits

 

 

 

 

 

 

Restricted Stock

 

 

interests

 

(in thousands)

 

Total

 

 

and RSUs

 

 

awards

 

2022

 

$

12,611

 

 

$

8,923

 

 

$

3,688

 

2023

 

 

11,856

 

 

 

8,774

 

 

 

3,082

 

2024

 

 

9,320

 

 

 

7,125

 

 

 

2,195

 

2025

 

 

4,771

 

 

 

3,786

 

 

 

985

 

2026

 

 

1,565

 

 

 

1,237

 

 

 

328

 

Total

 

$

40,123

 

 

$

29,845

 

 

$

10,278

 

Class A Restricted Common Stock [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Restricted Stock activities The following summarizes Restricted Stock activity for the year ended December 31, 2021:

 

 

 

 

Weighted-

 

 

 

 

average fair

 

 

Restricted

 

value per

 

 

Stock

 

share

 

Balance as of December 31, 2020

 

 

 

 

Effect of transactions and IPO

 

284,790

 

$

16.00

 

Issued

 

2,161,072

 

 

15.80

 

Forfeited

 

(28,200

)

 

16.00

 

Balance as of December 31, 2021

 

2,417,662

 

$

15.82