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SHARE-BASED COMPENSATION AND EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
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Dec. 31, 2023
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, 2022 | 10,339,171 |  |  | $ | 9.75 |  |  |  |  |
Granted | 2,580,000 |  |  | $ | 7.76 |  |  |  |  |
Exercised | — |  |  | $ | — |  |  |  |  |
Forfeited | (1,675,000) |  |  | $ | 9.71 |  |  |  |  |
Outstanding at December 31, 2023 | 11,244,171 |  |  | $ | 9.75 |  |  | 8.24 |  | $ | 154 |
Options vested and exercisable | 245,004 |  |  | $ | 10.00 |  |  | 6.14 |  | $ | — |
Schedule of Stock Option Valuation Assumptions | The weighted-average assumptions used to fair value the PBNQSO for Post Modification 2023 Option Grants, Prior Option Grants on the modification date and Pre Modification 2023 Option Grants were as follows:
| Post Modification 2023 Option Grants |  | Prior Option Grants |  | Pre Modification 2023 Option Grants
Dividend yield | — | % |  | — | % |  | — | %
Risk-free interest rate | 4.01% to 4.40% |  | 3.48 | % |  | 3.93% to 4.18%
Expected volatility | 45.00% to 48.00% |  | 44.00 | % |  | 45.00 | %
Expected life (years) | 10.00 |  | 8.50 to 9.25 |  | 6.50
Suboptimal exercise multiple | 2.50 |  | 2.50 |  | — |
Drift rate | 4.01% to 4.40% |  | 3.51% to 3.52% |  | — | %
Weighted average exercise price of options granted | $ | 4.82 |  |  | $ | 9.78 |  |  | $ | 8.31 |
Weighted average fair value of options granted | $ | 2.48 |  |  | $ | 3.15 |  |  | $ | 4.24 |
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, 2023, 2022 and 2021 and at the initial measurement date:
| December 31, 2023 |  | December 31, 2022 |  | December 31, 2021 |  | November 9, 2021
Dividend yield | — | % |  | — | % |  | — | % |  | — | %
Risk-free interest rate | 3.84 | % |  | 3.87 | % |  | 1.52 | % |  | 1.47 | %
Expected volatility | 48.10 | % |  | 43.10 | % |  | 37.50 | % |  | 35.00 | %
Expected life (years) | 8.00 |  | 9.00 |  | 10.00 |  | 10.15
10-day volume weighted average share price | $ | 4.51 |  |  | $ | 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -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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