General form of registration statement for all companies including face-amount certificate companies

Share-Based Compensation (Tables)

v3.21.4
Share-Based Compensation (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Share-Based Compensation    
Schedule of performance-based units activity

The following is a summary of Performance-Based Profits Interest(s) awards outstanding, by grant year and corresponding hurdle value ranges as of, and for the periods ended, December 31, 2018 through 2020, and September 30, 2021:

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Year

    

Units

    

Performance Hurdle Summary / Ranges

2018

 

500,000

 

Liquidation or Sale of Company; $120 Million to $300 Million

2019

 

1,125,000

 

Liquidation or Sale of Company; $294 Million

2020

 

950,000

 

Liquidation or Sale of Company; $294 Million to $900 Million

2021

 

60,000

 

Sale or Equity Transfer of Company; Total Enterprise Value $500 Million

The following is a summary of Performance-Based Profits Interest(s) awards outstanding, by grant year and corresponding hurdle value ranges as of, and for the periods ended, December 31, 2018, 2019 and 2020:

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Year

    

Units

    

Performance Hurdle Summary / Ranges

2018

 

500,000

 

Liquidation or Sale of Company; $120 Million to $300 Million

2019

 

1,125,000

 

Liquidation or Sale of Company; $294 Million

2020

 

950,000

 

Liquidation or Sale of Company; $294 Million to $900 Million
Schedule of number of Class C Units (Performance-based and Time- based) activity and weighted average fair market values

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FMV / Unit

Valuation

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Volatility

​

RF Rate

​

Time

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at Grant Date

03.31.2021

 

60.00

%  

0.06

%  

0.90

​

$

4.7410

12.31.2020

 

65.00

%  

0.10

%  

1.10

​

$

0.4940

06.11.2020

 

45.00

%  

0.19

%  

1.70

​

$

0.1510

11.04.2019

 

45.00

%  

1.60

%  

2.30

​

$

0.1280

12.31.2018

 

40.00

%  

2.46

%  

3.10

​

$

0.1510

02.08.2018

 

40.00

%  

2.45

%  

4.00

​

$

0.1700 to $0.1900

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FMV Range / Unit

Valuation

​

Volatility

​

RF Rate

​

Time

 

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at Grant Date

12.31.2020

 

65.00

%

0.10

%

1.10

​

$

0.4940

06.11.2020

 

45.00

%

0.19

%

1.70

​

$

0.1510

11.04.2019

 

45.00

%

1.60

%

2.30

​

$

0.1280

12.31.2018

 

40.00

%

2.46

%

3.10

​

$

0.1510

02.08.2018

 

40.00

%

2.45

%

4.00

​

$

0.1700 to $0.1900
Schedule of fair value assumptions

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Weighted

    

Performance

    

Weighted

    

Total Units

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Time-Based

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Vested

​

Avg. FMV

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Based

​

Avg. FMV

​

Outstanding

Outstanding, December 31, 2019

 

2,445,833

 

1,058,333

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$

0.1280

 

1,625,000

​

$

0.0417

 

4,070,833

Granted

 

600,000

 

—

​

$

0.4940

 

950,000

​

$

0.0363

 

1,550,000

Vested

 

—

 

443,750

​

$

0.3028

 

—

​

$

—

 

—

Repurchased

 

(200,000)

 

(200,000)

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$

0.9000

 

—

​

$

—

 

(200,000)

Outstanding, December 31, 2020

 

2,845,833

 

1,302,083

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$

0.4940

 

2,575,000

​

$

0.0363

 

5,420,833

Granted

 

985,000

 

—

​

$

4.7410

 

60,000

​

$

0.3790

 

1,045,000

Vested

 

—

 

623,750

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$

1.0794

 

—

​

$

—

 

—

Forfeited

 

(280,000)

 

—

​

$

—

 

(700,000)

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$

—

 

(980,000)

Outstanding, September 30, 2021

 

3,550,833

 

1,925,833

​

$

4.7410

 

1,935,000

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$

0.3790

 

5,485,833

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Weighted

    

Performance

    

Weighted

    

Total Units

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Time-Based

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Vested

​

Avg. FMV

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Based

​

Avg. FMV

​

Outstanding

Outstanding, December 31, 2017

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—

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—

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$

—

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—

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$

—

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—

Granted

 

1,975,000

 

—

​

$

0.1800

 

500,000

​

$

0.0250

 

2,475,000

Vested

 

—

 

425,000

​

$

0.1800

 

—

​

$

—

 

—

Outstanding, December 31, 2018

 

1,975,000

 

425,000

​

$

0.1607

 

500,000

​

$

0.0250

 

2,475,000

Granted

 

1,125,000

 

—

​

$

0.1280

 

1,375,000

​

$

0.0417

 

2,500,000

Vested

 

—

 

633,333

​

$

0.1485

 

—

​

$

—

 

—

Forfeited

 

(654,167)

 

—

​

$

0.1385

 

(250,000)

​

$

0.0690

 

(904,167)

Repurchased

 

—

 

—

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$

—

 

—

​

$

—

 

—

Outstanding, December 31, 2019

 

2,445,833

 

1,058,333

​

$

0.1280

 

1,625,000

​

$

0.0417

 

4,070,833

Granted

 

600,000

 

—

​

$

0.4940

 

950,000

​

$

0.0363

 

1,550,000

Vested

 

—

 

443,750

​

$

0.3028

 

—

​

$

—

 

—

Forfeited

 

—

 

—

​

$

—

 

—

​

$

—

 

—

Repurchased

 

(200,000)

 

(200,000)

​

$

0.9000

 

—

​

$

—

 

(200,000)

Outstanding, December 31, 2020

 

2,845,833

 

1,302,083

​

$

0.4940

 

2,575,000

​

$

0.0363

 

5,420,833