Annual report pursuant to Section 13 and 15(d)

SHARE-BASED COMPENSATION AND PROFITS INTERESTS (Tables)

v3.22.4
SHARE-BASED COMPENSATION AND PROFITS INTERESTS (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Compensation And Profits Interest [Abstract]  
Summary of Restricted Stock Activities
The following summarizes Restricted Stock activity for the year ended December 31, 2022:
Restricted
Stock
Weighted-Average
 Fair Value per Share
Balance as of December 31, 2021 2,417,662  $ 15.82 
Issued 3,004,139  24.66 
Vested (299,152) 24.15 
Forfeited (108,853) 19.60 
Balance as of December 31, 2022 5,013,796  $ 20.54 
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 statements of operations and comprehensive income (in thousands):
Year Ended December 31,
2022 2021
Antidulutive profits interests awards $ —  $ 13,609 
Profits interests award shares 9,208  3,785 
Restricted Stock and RSUs 22,936  4,114 
Total share-based compensation $ 32,144  $ 21,508 
Summary of Unrecognized Compensation Cost
As of December 31, 2022, unrecognized share-based compensation on Restricted Stock, RSUs and profits interests awards is expected to be recognized as follows (in thousands):
As of December 31, 2022
Total Restricted Stock
and RSUs
Profits interests
awards
2023 28,824  23,090  5,734 
2024 23,621  21,428  2,193 
2025 12,522  12,085  437 
2026 4,983  4,967  16 
2027 55  55  — 
Total $ 70,005  $ 61,625  $ 8,380