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SHARE-BASED COMPENSATION AND EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Performance-based Non-qualified Stock Options Activity | The table below summarizes the PBNQSO activity:
| Number of Options |  | Weighted-Average Exercise/Conversion Price |  | Weighted-Average Remaining Contractual Life (years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2021 | 8,763,754 |  |  | $ | 10.04 |  |  |  |  |
Granted | 2,579,167 |  |  | $ | 8.87 |  |  |  |  |
Exercised | — |  |  | $ | — |  |  |  |  |
Forfeited | (1,003,750) |  |  | $ | 10.09 |  |  |  |  |
Outstanding at December 31, 2022 | 10,339,171 |  |  | $ | 9.75 |  |  | 8.98 |  | $ | 1,560 |
Options vested and exercisable | 1,948,754 |  |  | $ | 10.04 |  |  | 8.86 |  | $ | — |
Schedule of Stock Option Valuation Assumptions | The weighted-average assumptions used to fair value the PBNQSO at period end using the Black-Scholes option-pricing model were as follows:
| December 31, |  | September 30, |  | June 30, |  | March 31, |  | December 31,
| 2022 |  | 2022 |  | 2022 |  | 2022 |  | 2021
Dividend yield | — | % |  | — | % |  | — | % |  | — | % |  | — | %
Risk-free interest rate | 3.98% |  | 4.02 | % |  | 3.30 | % |  | 2.41 | % |  | 1.35 | %
Expected volatility | 43.10% |  | 39.50 | % |  | 38.30 | % |  | 37.00 | % |  | 37.50 | %
Expected life (years) | 5.35 |  | 5.61 |  | 5.86 |  | 6.11 |  | 6.50
Weighted average exercise price of options granted | $ | 8.87 |  |  | $ | 8.87 |  |  | $ | 8.83 |  |  | $ | 12.09 |  |  | $ | 10.04 |
Weighted average fair value of options granted | $ | 4.20 |  |  | $ | 3.21 |  |  | $ | 5.25 |  |  | $ | 4.86 |  |  | $ | 6.94 |
Schedule of Award Valuation Assumptions | The key inputs into the Monte Carlo simulation model for the Variable Annual Advisory Amounts were as follows at December 31, 2022 and 2021 and at the initial measurement date:
| December 31, 2022 |  | December 31, 2021 |  | November 9, 2021
Dividend yield | — | % |  | — | % |  | — | %
Risk-free interest rate | 3.87 | % |  | 1.52 | % |  | 1.47 | %
Expected volatility | 43.10 | % |  | 37.50 | % |  | 35.00 | %
Expected life (years) | 9.00 |  | 10.00 |  | 10.15
10-day volume weighted average share price | $ | 8.86 |  |  | $ | 13.63 |  |  | $ | 12.00 |

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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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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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