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Stock-Based Compensation

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock-Based Compensation

The following table summarizes the stock option and restricted stock unit ("RSU") activity for the three months ended March 31, 2023:

			Options												RSUs
			Number of options						Weighted - average exercise price						Number of RSUs						Weighted - average grant date fair value
Outstanding at January 1, 2023			7,723,711						$	12.98					3,895,224						$	28.00
Granted			770,937						$	18.11					1,379,119						$	18.14
Exercised or released			(46,132)						$	4.54					(200,405)						$	26.00
Forfeited, cancelled or expired			(334,159)						$	6.38					(128,503)						$	27.42
Outstanding at March 31, 2023			8,114,357						$	13.78					4,945,435						$	25.34

The weighted-average grant-date fair value of options granted during the three months ended March 31, 2023 was $8.85. There were 3,373,417 performance stock units ("PSUs") outstanding at January 1, 2023 and March 31, 2023.

The following table summarizes the components of stock-based compensation expense recognized for the periods presented:

			Three months ended March 31,
(in thousands)			2023						2022
Cost of services			$	877					$	703
Selling, general, and administrative expense			12,587						18,902
Total			$	13,464					$	19,605

As of March 31, 2023, there was $15.7 million, $68.8 million and $4.5 million of unrecognized compensation expense related to the Company’s unvested stock options, RSUs and PSUs, respectively, that is expected to be recognized over a weighted-average period of 1.2 years, 1.5 years and 1.5 years

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- Definition

The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-URI https://asc.fasb.org/topic&trid=2228938

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 712
-URI https://asc.fasb.org/topic&trid=2197446

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 710
-URI https://asc.fasb.org/topic&trid=2127225

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI https://asc.fasb.org/topic&trid=2235017

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- References

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