Quarterly report pursuant to Section 13 or 15(d)

SHARE-BASED COMPENSATION AND PROFITS INTERESTS (Tables)

v3.23.1
SHARE-BASED COMPENSATION AND PROFITS INTERESTS (Tables)
3 Months Ended
Mar. 31, 2023
SHARE-BASED COMPENSATION AND PROFITS INTERESTS [Abstract]  
Schedule of Restricted Stock activities
The following table summarizes Restricted Stock activity for the three months ended March 31, 2023:
Restricted
Stock
Weighted-Average
 Fair Value per Share
Balance as of December 31, 2022 5,013,796  $ 20.54 
Issued 3,178,123  12.05 
Vested (562,321) 17.73 
Forfeited (48,340) 17.31 
Balance as of March 31, 2023 7,581,258  $ 17.21 
Schedule 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 statements of operations and comprehensive income (in thousands):
Three Months Ended March 31,
2023 2022
Profits interests award shares $ 1,988  $ 1,616 
Restricted Stock and RSUs 7,372  5,650 
Total share-based compensation $ 9,360  $ 7,266 
Schedule of Unrecognized Compensation Cost
As of March 31, 2023, 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, 2023
Total Restricted Stock
and RSUs
Profits interests
awards
Remainder of 2023 $ 26,809  $ 22,909  $ 3,900 
2024 30,938  28,848  2,090 
2025 19,991  19,555  436 
2026 9,302  9,286  16 
2027 1,993  1,993  — 
2028 — 
Total $ 89,038  $ 82,596  $ 6,442