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COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock Options, Valuation Assumptions

The Black-Scholes option pricing model was used with the following weighted-average assumptions for options granted. There were no options granted prior to 2022.

			For the year ended December 31,
			2023						2022
Average risk-free interest rate			4.19%						3.69%
Expected dividend yield			N/A						N/A
Expected volatility			62%						70%
Expected life			5.74 years						5.61 years
Fair value per share			$1.25						$1.10

Employee Stock Purchase Plan, Valuation Assumptions

The Black-Scholes option pricing model was used with the following weighted-average assumptions for ESPP subscriptions.

			For the year ended December 31,
			2023						2022
Average risk-free interest rate			4.61%						3.77%
Expected dividend yield			N/A						N/A
Expected volatility			64%						70%
Expected life			0.50 years						0.50 years
Fair value per share			$1.75						$1.60

Summary of RSU Activity

The fair value of market-based restricted stock units was determined using a Monte Carlo simulation model, which uses multiple input variables to determine the probability of satisfying the market condition requirements. The following weighted-average assumptions were used to determine the fair value of market-based restricted stock units. There were no market-based restricted stock units granted prior to 2022.

			For the year ended December 31,
			2023						2022
Average risk-free interest rate			4.37%						3.20%
Expected volatility			62%						70%

Restricted stock unit activity during the year ended December 31, 2023 under the 2022 Plan and 2021 Plan was as follows:

						Shares						Weighted Average Grant Date Fair Value
Unvested as of December 31, 2022						25,103,600						$	3.43
Granted						6,371,638						2.21
Vested						(4,738,693)						3.63
Forfeited/Cancelled						(5,297,726)						3.63
Unvested as of December 31, 2023						21,438,819						2.97

Restricted stock unit activity during the year ended December 31, 2023 for Holdco Units was as follows:

						Shares						Weighted Average Grant Date Fair Value
Unvested as of December 31, 2022						5,744,200						$	0.50
Vested						(2,978,054)						0.50
Forfeited/Cancelled						(564,274)						0.50
Unvested as of December 31, 2023						2,201,872						0.50

Schedule of Stock Option Activity

Stock option activity during the year ended December 31, 2023 under the 2022 Plan and 2021 Plan was as follows:

			Shares						Weighted Average Exercise Price						Weighted-Average Remaining Contractual Term						Aggregate Intrinsic Value
Outstanding as of December 31, 2022			7,000,000						$	1.73					5.6 years						$	480
Granted			350,000						$	2.09
Forfeited/Cancelled			(2,000,000)						$	1.57
Outstanding as of December 31, 2023			5,350,000						$	1.82					4.9 years						9,102
Exercisable as of December 31, 2023			4,250,000						1.64						4.2 years						8,000
Vested and Expected to Vest as of December 31, 2023			1,100,000						$	2.52					7.6 years						1,102

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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