Annual report pursuant to Section 13 and 15(d)

Equity-Based Compensation (Tables)

v3.24.1
Equity-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Common Unit Award Activity
The following summarizes Common Unit award activity for the year ended December 31, 2023:
Weighted
Average
Grant Date
Fair Value		 Number of
Units
(in thousands)
Non-vested as of December 31, 2022 $ 9.20  380
Granted $ —  —
Vested $ 9.20  (349)
Forfeited $ 9.20  (31)
Non-vested as of December 31, 2023 —
Schedule of Stock Option Activity
The following table summarizes time-based stock option activity for the year ended December 31, 2023:
Number of
Stock Options
(in thousands)		 Weighted
Average
Exercise
Price		 Weighted
Average
Remaining
Contractual
Life
(in years)		 Aggregate
Intrinsic
Value
(in thousands)
Outstanding as of December 31, 2022 3,402 $ 5.60  9.62 $ — 
Granted 1,663 $ 1.35 
Forfeited (978) $ 3.79 
Outstanding as of December 31, 2023 4,087 $ 4.24  8.77 $ 140 
Fully vested and expected to vest as of December 31, 2023 4,087 $ 4.24  8.77 $ 140 
Exercisable as of December 31, 2023 1,102 $ 5.78  8.39 $ 13 
The following table summarizes performance-based stock option activity for the year ended December 31, 2023:
Number of
Stock Options
(in thousands)		 Weighted
Average
Exercise
Price		 Weighted
Average
Remaining
Contractual
Life
(in years)		 Aggregate
Intrinsic
Value
(in thousands)
Outstanding as of December 31, 2022 1,500 $ 4.95  9.83 $ — 
Granted 150 $ 1.07     
Outstanding as of December 31, 2023 1,650 $ 4.60  9.00 $ 51 
Fully vested and expected to vest as of December 31, 2023 1,650 $ 4.60  9.00 $ 51 
Exercisable as of December 31, 2023 — $ —  — $ — 
Schedule of Fair Value of Stock Options
The following additional disclosures are provided for time-based stock options:
Year Ended December 31,
2023 2022
Weighted average grant date fair value $ 0.81  $ 2.58 
The following additional disclosures are provided for performance-based stock options:
Year Ended December 31,
2023 2022
Weighted average grant date fair value $ 0.77  $ 3.34 
The following additional disclosures are provided for RSU awards:
Year Ended
December 31,
2023
Weighted average grant date fair value $ 1.80 
Total fair value of shares vested (in thousands) $ 5,826 
The following additional disclosures are provided for RSAs:
Year Ended
December 31,
2023
Weighted average grant date fair value $ 1.82 
Total fair value of shares vested (in thousands) $ 598 
Schedule of Weighted Average Assumptions used in Estimating the Grant Date Fair Value of Stock Options
The weighted average assumptions used in estimating the grant date fair value of stock options are listed in the table below:
Year Ended December 31,
2023 2022
Expected volatility 60.2  % 51.0  %
Risk-free interest rate 3.8  % 3.2  %
Expected term 6.6 years 7.3 years
Dividend rate 0.0  % 0.0  %
Schedule of Nonvested Restricted Stock Units Activity
The following table summarizes RSU activity for the year ended December 31, 2023:
Weighted
Average
Grant Date
Fair Value		 Number of
Units
(in thousands)
Non-vested as of December 31, 2022 $ —  — 
Granted $ 1.80  7,548 
Vested $ 2.15  (2,713)
Non-vested as of December 31, 2023 $ 1.60  4,835 
The following table summarizes RSA activity for the year ended December 31, 2023:
Weighted
Average
Grant Date
Fair Value		 Number of
Units
(in thousands)
Non-vested as of December 31, 2022 $ —  — 
Granted $ 1.82  250 
Vested $ 1.82  (250)
Non-vested as of December 31, 2023 —