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Share-Based Compensation (Tables)

9 Months Ended

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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