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Equity-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Activity of Company's Restricted Stock

Activity for the Company’s RSAs was as follows:

(in thousands, except per share amounts)						Restricted Stock Awards						Weighted-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

Schedule of Activity of Company's Restricted Stock Units

Activity for the Company’s RSUs was as follows:

(in thousands, except per share amounts)						Restricted Stock Units						Weighted-average grant date fair value per share
Balance, December 31, 2023						648						$	35.99
New grants						693						29.67
Vested						(87)						31.06
Forfeitures						(64)						32.85
Balance, March 31, 2024						1,190						$	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, 2024						Weighted-average vest date fair value per share			Three Months Ended March 31, 2023			Weighted-average vest date fair value per share
Restricted stock awards																		$	38,665					$	31.06		$	34,293		$	27.15
Restricted stock units																		2,664						30.49			5,441			27.22

Schedule of 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)																		2024						2023
Cost of sales																		$	94					$	—
Selling, general, and administrative expenses																		1,839						9,170
Total stock-based compensation expense																		$	1,933					$	9,170

Schedule of Total Unrecognized Stock Based Compensation Related to Unvested Stock Awards

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

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 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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Tabular disclosure of the change in unrecognized tax benefits, excluding amounts pertaining to examined tax returns.

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