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Share-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-based Compensation Expense | The following table summarizes share-based compensation expense recognized during the three and nine months ended September 30, 2024 and 2023:
|  | Three months ended September 30, |  | Nine months ended September 30, |  |
|  | 2024 |  | 2023 |  | 2024 |  | 2023 |  |
|  | in thousands
Restricted stock units |  | $ | 2,962 |  |  | $ | 4,220 |  |  | $ | 10,004 |  |  | $ | 10,846 |  |  |
Performance restricted stock units |  | 1,130 |  |  | 715 |  |  | 3,014 |  |  | 2,146 |  |  |
Employee stock purchase plan |  | — |  |  | — |  |  | — |  |  | 165 |  |  |
Total share-based compensation expense |  | $ | 4,092 |  |  | $ | 4,935 |  |  | $ | 13,018 |  |  | $ | 13,157 |  |  |
Schedule of Restricted Stock Units Activity | The following table provides a summary of RSU activity during the nine months ended September 30, 2024:
|  | Restricted Stock Units |  | Weighted Average Grant Date Fair Value
Unvested balance as of December 31, 2023 |  | 4,678,032 |  | $ | 9.88 |
Granted |  | 941,492 |  | 9.20 |
Vested (1) |  | (1,805,137) |  | 10.15 |
Forfeited |  | (124,670) |  | 9.58 |
Unvested balance as of September 30, 2024 |  | 3,689,717 |  | $ | 9.58 |
(1) For the nine months ended September 30, 2024, 1,194,808 shares of Class A Common Stock were issued related to the vesting of RSUs in the period, net of shares withheld for the funding of employee tax obligations.
Schedule of Restricted Stock Units Award Activity | The following table provides additional data related to RSU award activity during the nine months ended September 30, 2024 and 2023:
|  | Nine months ended September 30,
|  | 2024 |  | 2023
|  | in thousands (except years)
Total fair value of shares vested (1) |  | $ | 18,324 |  |  | $ | 9,710 |
Unrecognized compensation expense |  | $ | 28,962 |  |  | $ | 36,413 |
Weighted-average period awards are expected to be recognized (in years) | 2.93 |  | 3.41
(1) The tax impact related to vested RSUs for the nine months ended September 30, 2024 and 2023 was not material to the Company's Condensed Consolidated Financial Statements due to the full valuation allowance on the deferred tax asset for the investment in the assets of THG.
Schedule of Grant-date Fair Value of Performance Stock Units | The following table summarizes the assumptions and related information used to determine the grant-date fair value of the market condition PRSUs awarded in April 2022:
Inputs |  | Performance Restricted Stock Units
Weighted average grant-date fair value per share |  | $5.19
Expected stock volatility |  | 35%
Expected term (in years) |  | 7.0
Risk-free interest rate |  | 2.5%
Dividend yield |  | —%
Schedule of Performance-based Units Activity | The following table provides a summary of the activity related to PRSUs granted under the 2024 PRSU Agreement during the nine months ended September 30, 2024:
| Performance Restricted Stock Units |  | Weighted Average Grant Date Fair Value
Unvested balance as of December 31, 2023 | — |  | $ | — |
Granted | 339,564 |  | 9.31 |
Unvested balance as of September 30, 2024 | 339,564 |  | $ | 9.31 |
Schedule of Performance-based Units Award Activity | The following table provides additional data related to performance condition PRSU award activity during the nine months ended September 30, 2024:
|  | Nine months ended September 30,
|  | 2024 |  |
|  | in thousands (except years)
Total fair value of shares vested |  | $ | — |  |  |
Unrecognized compensation expense |  | $ | 5,324 |  |  |
Weighted-average period awards are expected to be recognized (in years) | 2.50 |  |

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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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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