Annual report pursuant to Section 13 and 15(d)

Equity-Based Compensation (Tables)

v3.24.0.1
Equity-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Schedule of Assumptions were Utilized In Determining the Fair Value of the Units at the Grant Date The following assumptions were utilized in determining the fair value of the units at the grant date:
Expected dividend —
Expected volatility
60% to 85%
Risk-free interest rate
0.13% to 2.53%
Expected life of incentive awards (in years)
1 to 5 years
Grant date performance and market threshold
$35,000 to $1,250,000
The following weighted average assumptions were utilized in determining the fair value of options granted in 2023:
Weighted average grant date fair value $2.58
Expected dividend yield —
Expected volatility 65%
Risk-free interest rate 4.17%
Options term (in years) 4.5
The Company used the Monte Carlo pricing model to estimate the fair value of PSUs utilizing the following assumptions at the grant date:
Expected dividend —
Expected volatility 65%
Risk-free interest rate 3.97%
Award term years 4.3
Valuation date share price $6.21
Schedule of Changes in the Number of Incentive Units
The following table summarizes the changes in the number of Incentive Units for the years ended December 31, 2023, 2022 and 2021:
Incentive
Units		 Weighted
Average
Grant Date
Fair Value
Outstanding at January 1, 2021 174,503  $ 38.82 
Granted 18,400  215.31 
Forfeited (10,709) 100.66 
Repurchased (6,202) 476.06 
Outstanding at December 31, 2021
 175,992  $ 38.09 
Granted 850  215.31 
Forfeited (2,989) 174.19 
Repurchased (1,832) 97.57 
Business Combination (157,811) 56.54 
Outstanding at December 31, 2022
 14,210  $ 192.52 
Granted —  — 
Forfeited (5,625) 215.31 
Outstanding at December 31, 2023
 8,585  $ 213.81 
Vested at December 31, 2023
 6,178  $ 213.22 
The following table summarizes information about stock options activities for the years ended December 31, 2023 and 2022:
Stock Options Weighted
Average
Exercise Price
Granted on February 9, 2022 518,180  $ 10.00 
Granted 362,720  9.49 
Forfeited (88,530) 10.00 
Outstanding at December 31, 2022 792,370  $ 9.77 
Granted 3,813,166  4.66 
Forfeited (1,192,196) 6.43 
Outstanding at December 31, 2023 3,413,340  $ 5.19 
Vested at December 31, 2023 288,321  $ 7.72 
The following table summarizes information about the RSUs under the Omnibus Plan for the years ended December 31, 2023 and 2022:
Restricted Stock Units Weighted
Average
Grant Date
Fair Value
Granted on May 2, 2022 400,775  $ 13.70 
Granted 484,054  8.56 
Forfeited (51,875) 13.70 
Vested (9,125) 13.70 
Outstanding at December 31, 2022 823,829  $ 10.68 
Granted 2,008,519  4.90 
Forfeited (685,484) 6.49 
Vested (461,909) 9.70 
Outstanding at December 31, 2023 1,684,955  $ 5.77