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Share-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Compensation Expense | Share-based compensation expense by type of award was as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30, |
| 2022 |  | 2021 |  | 2022 |  | 2021 |
Stock options | $ | 4,398 |  | $ | 1,235 |  | $ | 7,428 |  | $ | 1,992 |
Restricted stock units |  | 948 |  |  | — |  |  | 1,645 |  |  | — |
Restricted stock units - executive officer |  | 598 |  |  | — |  |  | 1,352 |  |  | — |
Total share-based compensation expense | $ | 5,944 |  | $ | 1,235 |  | $ | 10,425 |  | $ | 1,992 |
Summary of Stock Option Activity | A summary of stock option activity for awards under the 2017 Plan and the 2022 Plan is presented below:
| Options Outstanding and Exercisable |
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value (1) (in thousands) |
Outstanding as of January 1, 2022 |  | 5,598,830 |  | $ | 5.36 |  |  | 8.9 |  | $ | 7,349 |
Granted |  | 3,048,158 |  |  | 14.54 |  |  |  |  |
Forfeited |  | (95,495 | ) |  | 9.94 |  |  |  |  |
Exercised |  | (324,467 | ) |  | 1.32 |  |  |  |  |
Outstanding as of June 30, 2022 |  | 8,227,026 |  | $ | 8.87 |  |  | 8.9 |  | $ | 75,703 |
Exercisable as of June 30, 2022 |  | 2,406,207 |  | $ | 5.74 |  |  | 8.1 |  | $ | 29,687 |
(1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the estimated fair value of the common stock for the options that were in the money as of June 30, 2022.
Summary of Restricted Stock Units Activity | A summary of RSU activity for awards under the 2022 Plan is presented below:
| Number of Shares |  | Weighted Average Grant Date Fair Value |
Outstanding as of January 1, 2022 |  | — |  | $ | — |
Granted |  | 845,067 |  |  | 16.76 |
Vested |  | — |  |  | — |
Forfeited |  | (16,663 | ) |  | 17.84 |
Outstanding as of June 30, 2022 |  | 828,404 |  | $ | 16.74 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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