Quarterly report pursuant to Section 13 or 15(d)

Share-based Compensation and Profits Interests (Tables)

v3.22.1
Share-based Compensation and Profits Interests (Tables)
3 Months Ended
Mar. 31, 2022
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 (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Profits interests award shares

 

$

1,616

 

 

$

841

 

Restricted Stock and RSUs

 

 

5,650

 

 

 

 

Total share-based compensation

 

$

7,266

 

 

$

841

 

Summary of Unrecognized Compensation Cost

As of March 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 March 31, 2022

 

 

 

Total

 

 

Restricted Stock
and RSUs

 

 

Profit interest
awards

 

Remainder of 2022

 

$

26,628

 

 

$

22,990

 

 

$

3,638

 

2023

 

 

25,967

 

 

 

22,935

 

 

 

3,032

 

2024

 

 

23,486

 

 

 

21,341

 

 

 

2,145

 

2025

 

 

13,026

 

 

 

12,070

 

 

 

956

 

2026

 

 

5,349

 

 

 

5,034

 

 

 

315

 

Thereafter

 

 

42

 

 

 

42

 

 

 

 

Total

 

$

94,498

 

 

$

84,412

 

 

$

10,086

 

Class A Restricted 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 three months ended March 31, 2022 (in thousands, except per share data):

 

 

 

 

Weighted-

 

 

 

 

average fair

 

 

Restricted

 

value per

 

 

Stock

 

share

 

Balance as of December 31, 2021

 

2,417,662

 

$

15.82

 

Issued

 

2,910,772

 

 

24.55

 

Vested

 

(260,234

)

 

24.60

 

Forfeited

 

(42,775

)

 

16.00

 

Balance as of March 31, 2022

 

5,025,425

 

$

20.42