| 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 for the years ended December 31, 2024, 2023 and 2022:
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| 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 |
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Year Ended December 31, |
|
2024 |
|
2023 |
|
2022 |
| Weighted average grant date fair value |
$2.21 |
|
$2.58 |
|
$5.48 |
| Expected dividend yield |
— |
|
— |
|
— |
| Expected volatility |
66% |
|
65% |
|
55% |
| Risk-free interest rate |
4.32% |
|
4.17% |
|
2.40% |
| Options term (in years) |
4.5 |
|
4.5 |
|
4.5 |
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|
|
|
|
|
| Expected dividend |
— |
| Expected volatility |
65% |
| Risk-free interest rate |
3.97% |
| Award term years |
4.3 |
| Valuation date share price |
$6.21 |
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| 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, 2024, 2023 and 2022:
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Incentive
Units |
|
Weighted
Average
Grant Date
Fair Value |
Granted and outstanding at January 1, 2022 |
175,992 |
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|
$ |
38.09 |
|
| Granted |
850 |
|
|
215.31 |
|
| Forfeited |
(2,989) |
|
|
174.19 |
|
| Repurchased |
(1,832) |
|
|
97.57 |
|
| Business Combination |
(157,811) |
|
|
56.54 |
|
Granted and outstanding at December 31, 2022 |
14,210 |
|
|
$ |
192.52 |
|
| Granted |
— |
|
|
— |
|
| Forfeited |
(5,625) |
|
|
215.31 |
|
Granted and outstanding at December 31, 2023 |
8,585 |
|
|
$ |
213.81 |
|
| Granted |
— |
|
|
— |
|
| Forfeited |
(113) |
|
|
215.31 |
|
Granted and outstanding at December 31, 2024 |
8,472 |
|
|
$ |
213.79 |
|
Vested at December 31, 2024 |
7,435 |
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|
$ |
213.57 |
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The following table summarizes information about stock options activities for the years ended December 31, 2024, 2023 and 2022:
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Stock Options |
|
Weighted
Average
Exercise Price |
Granted and outstanding at February 9, 2022 |
518,180 |
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|
$ |
10.00 |
|
| Granted |
362,720 |
|
|
9.49 |
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| Forfeited |
(88,530) |
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|
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 |
|
| Granted |
2,680,584 |
|
|
3.94 |
|
| Forfeited |
(666,967) |
|
|
6.53 |
|
| Exercised |
(2,546) |
|
|
$ |
5.05 |
|
Outstanding at December 31, 2024 |
5,424,411 |
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|
$ |
4.41 |
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Vested and exercisable at December 31, 2024 |
1,101,913 |
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|
$ |
5.07 |
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The following table summarizes information about the RSUs under the Omnibus Plan for the years ended December 31, 2024, 2023 and 2022:
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Restricted Stock Units |
|
Weighted
Average
Grant Date
Fair Value |
Granted and outstanding at May 2, 2022 |
400,775 |
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|
$ |
13.70 |
|
| Granted |
484,054 |
|
|
8.56 |
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| Forfeited |
(51,875) |
|
|
13.70 |
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| Vested |
(9,125) |
|
|
13.70 |
|
Nonvested at December 31, 2022 |
823,829 |
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|
$ |
10.68 |
|
| Granted |
2,008,519 |
|
|
4.90 |
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| Forfeited |
(685,484) |
|
|
6.49 |
|
| Vested |
(461,909) |
|
|
9.70 |
|
Nonvested at December 31, 2023 |
1,684,955 |
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|
$ |
5.77 |
|
| Granted |
1,726,212 |
|
|
4.02 |
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| Forfeited |
(476,399) |
|
|
5.16 |
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| Vested |
(701,816) |
|
|
5.87 |
|
Nonvested at December 31, 2024 |
2,232,952 |
|
|
$ |
4.51 |
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