Quarterly report pursuant to Section 13 or 15(d)

SHARE-BASED COMPENSATION AND PROFITS INTERESTS (Tables)

v3.22.2.2
SHARE-BASED COMPENSATION AND PROFITS INTERESTS (Tables)
9 Months Ended
Sep. 30, 2022
SHARE-BASED COMPENSATION AND PROFITS INTERESTS [Abstract]  
Summary of Restricted Stock activities
The following summarizes Restricted Stock activity for the nine months ended September 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 3,003,639  24.30 
Vested (299,152) 23.83 
Forfeited (108,853) 19.47 
Balance as of September 30, 2022 5,013,296  $ 20.34 
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 September 30, Nine Months Ended September 30,
2022 2021 2022 2021
Antidulutive profits interest awards $ —  $ —  $ —  $ 13,609 
Profits interests award shares 3,875  956  6,331  2,811 
Restricted Stock and RSUs 5,749  1,497  17,111  1,497 
Total share-based compensation $ 9,624  $ 2,453  $ 23,442  $ 17,917 
Summary of Unrecognized Compensation Cost
As of September 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 September 30, 2022
Total Restricted Stock
and RSUs
Profits interest
awards
Remainder of 2022 $ 8,386  $ 5,873  $ 2,513 
2023 28,826  23,098  5,728 
2024 23,618  21,433  2,185 
2025 12,522  12,090  432 
2026 4,999  4,985  14 
Thereafter 68  68  — 
Total $ 78,419  $ 67,547  $ 10,872