Annual report pursuant to Section 13 and 15(d)

Equity-Based Compensation (Tables)

v3.22.4
Equity-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Summary 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 2022:
Weighted average grant date fair value $5.48
Expected dividend yield —
Expected volatility 55%
Risk-free interest rate 2.40%
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
Summary 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, 2022, 2021 and 2020:
Incentive
Units		 Weighted
Average
Grant Date
Fair Value
Granted and Outstanding at January 1, 2020 142,500  $ 38.10 
Granted 49,119  95.27 
Forfeited (10,000) 15.40 
Repurchased (7,116) 447.15 
Granted and Outstanding at December 31, 2020
 174,503  $ 38.82 
Granted 18,400  215.31 
Forfeited (10,709) 100.66 
Repurchased (6,202) 476.06 
Granted and 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 
Granted and Outstanding at December 31, 2022 14,210  $ 192.52 
Vested at December 31, 2022
 2,085  $ 209.12 
The following table summarizes information about stock options activities for 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 
The following table summarizes information about the RSUs under the Omnibus Plan for 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 
Nonvested at December 31, 2022 823,829  $ 10.68