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Equity-Based Compensation
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Equity-Based Compensation
NOTE 12 — Equity-Based Compensation
Restricted Stock Awards
Activity for the Company’s RSAs was as follows:
(in thousands, except per share amounts)Restricted Stock AwardsWeighted-average grant date fair value per share
Balance, December 31, 2023 1,283 $23.00 
Vested (1,245)23.00 
Balance, March 31, 2024 38 $23.00 
Restricted Stock Units
Activity for the Company’s RSUs was as follows:
(in thousands, except per share amounts)Restricted Stock UnitsWeighted-average grant date fair value per share
Balance, December 31, 2023 648 $35.99 
New grants693 29.67 
Vested (87)31.06 
Forfeitures(64)32.85 
Balance, March 31, 20241,190 $31.77 
Total release date fair value of vested restricted stock awards and units for the three months ended March 31, 2024 and 2023 are presented below.
(in thousands, except per share amounts)Three Months Ended March 31, 2024Weighted-average vest date fair value per shareThree Months Ended March 31, 2023Weighted-average vest date fair value per share
Restricted stock awards$38,665 $31.06 $34,293 $27.15 
Restricted stock units2,664 30.49 5,441 27.22 
Equity-Based Compensation
Equity-based compensation expense is recognized on a straight-line basis and is included in the Company’s condensed consolidated statements of operations as follows:
Three Months Ended March 31,
(in thousands)20242023
Cost of sales$94 $— 
Selling, general, and administrative expenses1,839 9,170 
Total stock-based compensation expense
$1,933 $9,170 
As of March 31, 2024, total unrecognized stock-based compensation related to unvested stock awards was $30.0 million, which will be recognized as follows:
(in thousands)
Remainder of 2024 $9,970 
2025 11,302 
2026 7,626 
2027 1,117 
Total unrecognized stock-based compensation$30,015