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EQUITY-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Equity-based Compensation, Valuation Assumptions

The fair value of the stock is estimated on the date of grant using the Black-Scholes option-pricing model using the following assumptions:

			2021						2020
Expected annual dividend yield			—		%				—		%
Expected volatility			49.1		%				42.1 - 63.3%
Risk-free rate of return			0.1		%				1.6 - 1.7%
Expected option term (years)			0.2						0.8 - 4.4

The fair value of the stock is estimated on the date of grant using the Black-Scholes option-pricing model using the following assumptions:

			2021						2020
Expected annual dividend yield			—		%				—		%
Expected volatility			47.5		%				—		%
Risk-free rate of return			0.7		%				—		%
Expected option term (years)			4.5						0

The fair value and derived service period of the Market PSUs is estimated on the date of grant using a Monte Carlo simulation with the following assumptions:

			2021						2020
Expected annual dividend yield			—		%				—		%
Expected volatility			55.0		%				—		%
Risk-free rate of return			—		%				—		%
Expected option term (years)			2.7						0.0

Schedule of Restricted Stock Activity

A summary of restricted stock activity for the nine months ended September 30, 2021 and 2020 is as follows (in thousands except per share data):

			Number of RSU's						Weighted average grant date fair value						Weighted average remaining recognition period
Non-vested at December 31, 2019			73						$	2.21
Recapitalized			607						(1.97)
Non-vested at December 31, 2019 (after effect of recapitalization)			680						0.24
Granted			1,937						1.73
Vested			(1,777)						1.37
Forfeited			(11)						1.95
Non-vested at September 30, 2020			829						$	1.27					2.18

			Number of RSU's						Weighted average grant date fair value						Weighted average remaining recognition period
Non-vested at December 31, 2020			91						$	11.58
Recapitalization			671						(10.19)
Non-vested at December 31, 2020 (after effect of recapitalization)			762						1.39
Granted			2,353						18.88
Vested			(699)						9.83
Forfeited			(26)						3.92
Non-vested at September 30, 2021			2,390						$	16.12					2.63

Schedule of Stock Option Activity

A summary of stock option activity for the nine months ended September 30, 2021 and 2020 is as follows (in thousands except per share data):

Number of Options

Weighted Average Exercise Price

Weighted Average Remaining Contractual Term (Years)

Balance, December 31, 2019

—

$

—

—

Granted

—

—

—

Exercised

—

—

—

Forfeited

—

—

—

Balance, September 30, 2020

—

$

—

—

			Number of Options						Weighted Average Exercise Price						Weighted Average Remaining Contractual Term (Years)
Balance, December 31, 2020			—						$	—					—
Granted			613						28.90						7
Exercised			—						—						—
Forfeited			—						—						—
Balance, September 30, 2021			613						$	28.90					6.46
Exercisable			—						—						—

Schedule of Performance-Based Restricted Stock Activity

A summary of the PSU activity for the nine months ended September 30, 2021 and 2020 is as follows (in thousands except per share data):

Number of PSUs

Weighted Average Exercise Price

Weighted Average Remaining Contractual Term (Years)

Balance, December 31, 2019

—

$

—

—

Granted

—

—

—

Vested

—

—

—

Forfeited

—

—

—

Balance, September 30, 2020

—

$

—

—

			Number of PSUs						Weighted Average Exercise Price						Weighted Average Remaining Contractual Term (Years)
Balance, December 31, 2020			—						$	—					—
Granted			424						18.65						—
Vested			—						—						—
Forfeited			—						—						—
Balance, September 30, 2021			424						$	18.65					2
Exercisable			—						—						—

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Tabular disclosure of the changes in outstanding nonvested performance-based units.

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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.

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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.

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Tabular disclosure of the change in restricted stock units (RSUs).

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