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Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Assumptions for Option Pricing Model Used in Determining Fair Value

The following assumptions for the option pricing model were used in determining the fair value of the Class B units at the initial grant date of April 4, 2019:

Risk free interest rate			1.84	%
Expected volatility			37.50	%
Expected time to liquidity		4.5 years
Dividend yield			0.00	%
Discount for lack of marketability			30.0	%

Summary of Company's Stock Option Activity

The following table summarizes the Company's stock option activity for the year ended December 31, 2024:

	Stock Options				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (years)
Outstanding at December 31, 2023		—				—				—
Corporate restructuring		463,194			$	10.51
Exercised		—				—
Forfeited		—				—
Outstanding at December 31, 2024		463,194			$	10.51			5.75
Options Exercisable at December 31, 2024		50,347			$	9.93			4.73

Summary of Restricted Stock Awards (RSA) Activity and Restricted Stock Unit (RSU) Activity

The following table summarizes the Company's restricted stock awards (RSA) activity for the year ended December 31, 2024:

	Shares				Weighted Average Grant Date Fair Value per Share
Outstanding at December 31, 2023		—				—
Corporate restructuring		6,036,550			$	5.02
Released		—				—
Forfeited		—				—
Outstanding at December 31, 2024		6,036,550			$	5.02

The following table summarizes the Company's restricted stock unit (RSU) activity for the years ended December 31, 2024:

	Shares				Weighted Average Grant Date Fair Value per Share
Outstanding at December 31, 2023		—				—
Granted		238,540			$	29.81
Released		—				—
Forfeited		—				—
Outstanding at December 31, 2024		238,540			$	29.81

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Tabular disclosure of employee stock purchase plan activity.

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (g)
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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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