Share-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2021 |
|---|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Schedule of fair value assumptions |
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FMV / Unit |
Valuation |
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Volatility |
|
RF Rate |
|
Time |
|
at Grant Date |
03.31.2021 |
|
60 |
% |
0.06 |
% |
0.90 |
|
$ |
4.74 |
12.31.2020 |
|
65 |
% |
0.10 |
% |
1.10 |
|
$ |
0.49 |
06.11.2020 |
|
45 |
% |
0.19 |
% |
1.70 |
|
$ |
0.15 |
11.04.2019 |
|
45 |
% |
1.60 |
% |
2.30 |
|
$ |
0.13 |
12.31.2018 |
|
40 |
% |
2.46 |
% |
3.10 |
|
$ |
0.15 |
|
| Schedule of number of Class C Units (Performance-based and Time- based) activity and weighted average fair market values |
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Weighted |
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Weighted |
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Average |
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Average |
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Grant-Date |
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Time Based |
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Grant-Date |
|
Performance |
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Fair Value |
|
Units |
|
Fair Value |
|
Based Units |
Outstanding and non-vested at December 31, 2018 |
|
$ |
0.16 |
|
1,550,000 |
|
$ |
0.03 |
|
500,000 |
Granted |
|
|
0.13 |
|
1,125,000 |
|
|
0.04 |
|
1,375,000 |
Vested |
|
|
0.15 |
|
(633,333) |
|
|
— |
|
— |
Cancelled/forfeited |
|
|
0.14 |
|
(654,167) |
|
|
0.07 |
|
(250,000) |
Outstanding and non-vested at December 31, 2019 |
|
$ |
0.13 |
|
1,387,500 |
|
|
0.04 |
|
1,625,000 |
Granted |
|
|
0.49 |
|
600,000 |
|
|
0.04 |
|
950,000 |
Vested |
|
|
0.30 |
|
(443,750) |
|
|
— |
|
— |
Cancelled/forfeited |
|
|
— |
|
— |
|
|
— |
|
— |
Outstanding and non-vested at December 31, 2020 |
|
$ |
0.49 |
|
1,543,750 |
|
$ |
0.04 |
|
2,575,000 |
Granted |
|
|
4.74 |
|
985,000 |
|
|
0.38 |
|
60,000 |
Vested |
|
|
1.12 |
|
(660,417) |
|
|
— |
|
— |
Cancelled/forfeited |
|
|
0.49 |
|
(280,000) |
|
|
0.04 |
|
(950,000) |
Outstanding and non-vested at December 2, 2021 |
|
$ |
2.66 |
|
1,588,333 |
|
$ |
0.04 |
|
1,685,000 |
|
| Schedule of compensation costs |
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Successor |
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Predecessor |
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December 3, 2021 |
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January 1, 2021 |
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Year Ended |
|
Year Ended |
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through December 31, |
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through December 2, |
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December 31, |
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December 31, |
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2021 |
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2021 |
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2020 |
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2019 |
|
Grant date fair value of profits interests - time-based |
|
$ |
23,999,330 |
|
|
$ |
4,669,885 |
|
$ |
317,958 |
|
$ |
316,000 |
|
Profits interest compensation cost - time-based |
|
$ |
4,635,142 |
|
|
$ |
3,524,277 |
|
$ |
447,475 |
|
$ |
474,042 |
|
Grant date fair value of profits interests - performance-based |
|
$ |
— |
|
|
$ |
103,000 |
|
$ |
65,000 |
|
$ |
15,000 |
|
Profits interest compensation cost - performance based |
|
$ |
— |
|
|
$ |
176,975 |
|
$ |
— |
|
$ |
— |
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|
| Class V shares |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of share-based compensation activity |
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Weighted |
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|
|
Weighted |
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Average |
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|
Average |
|
|
|
|
Grant-Date |
|
Time Based |
|
Grant-Date |
|
Performance |
|
|
Fair Value |
|
Units |
|
Fair Value |
|
Based Units |
Outstanding and non-vested at December 3, 2021 |
|
$ |
— |
|
— |
|
$ |
— |
|
— |
Granted on December 3, 20211 |
|
|
9.20 |
|
5,471,400 |
|
|
— |
|
— |
Granted during period |
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|
— |
|
— |
|
|
— |
|
— |
Vested |
|
|
— |
|
— |
|
|
— |
|
— |
Cancelled/forfeited |
|
|
— |
|
— |
|
|
— |
|
— |
Outstanding and non-vested at December 31, 2021 |
|
$ |
9.20 |
|
5,471,400 |
|
$ |
— |
|
— |
1 Represents predecessor profit interest awards which were replaced with Class V awards on the Merger Date.
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| Class C units |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of share-based compensation activity |
|
|
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|
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Weighted |
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|
Weighted |
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|
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Average |
|
|
|
Average |
|
|
|
|
Grant-Date |
|
Time Based |
|
Grant-Date |
|
Performance |
|
|
Fair Value |
|
Units |
|
Fair Value |
|
Based Units |
Outstanding and non-vested at December 31, 2018 |
|
$ |
0.16 |
|
1,550,000 |
|
$ |
0.03 |
|
500,000 |
Granted |
|
|
0.13 |
|
1,125,000 |
|
|
0.04 |
|
1,375,000 |
Vested |
|
|
0.15 |
|
(633,333) |
|
|
— |
|
— |
Cancelled/forfeited |
|
|
0.14 |
|
(654,167) |
|
|
0.07 |
|
(250,000) |
Outstanding and non-vested at December 31, 2019 |
|
$ |
0.13 |
|
1,387,500 |
|
|
0.04 |
|
1,625,000 |
Granted |
|
|
0.49 |
|
600,000 |
|
|
0.04 |
|
950,000 |
Vested |
|
|
0.30 |
|
(443,750) |
|
|
— |
|
— |
Cancelled/forfeited |
|
|
— |
|
— |
|
|
— |
|
— |
Outstanding and non-vested at December 31, 2020 |
|
$ |
0.49 |
|
1,543,750 |
|
$ |
0.04 |
|
2,575,000 |
Granted |
|
|
4.74 |
|
985,000 |
|
|
0.38 |
|
60,000 |
Vested |
|
|
1.12 |
|
(660,417) |
|
|
— |
|
— |
Cancelled/forfeited |
|
|
0.49 |
|
(280,000) |
|
|
0.04 |
|
(950,000) |
Outstanding and non-vested at December 2, 2021 |
|
$ |
2.66 |
|
1,588,333 |
|
$ |
0.04 |
|
1,685,000 |
|