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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2021
Share-based Payment Arrangement [Abstract] |
Summary of Company's Stock Option, Activity | A summary of the Company’s stock option activity for the three and nine months ended September 30, 2021 is as follows:
| Number of Common Stock Options | Weighted-Average Exercise Price | Weighted-Average Remaining Contractual Life (Years) | Aggregate Intrinsic Value
Outstanding as of December 31, 2020 | — | $ | — |  | — | $ | — |
Granted | 5,600,000 | 15.23 |  | — | — |
Exercised | — | — |  | — | — |
Forfeited | — | — |  | — | — |
Outstanding as of September 30, 2021 | 5,600,000 | $ | 15.23 |  | 6.10 | $ | — |
Schedule of Valuation Assumptions, Options | The fair value of each option grant was estimated on the grant date using the Black-Scholes option pricing model based on the following assumptions:
Volatility |  | 32.50 | %
Risk-free rate |  | 0.91 | %
Years to expiration |  | 6.10
Dividend yield |  | 0.00 | %
Schedule of Valuation Assumptions, Profit Unit Interests | The compensation expense accounted for all vested units based on the following assumptions:
Expected term |  | 3 years
Volatility |  | 68.0 | %
Discount for lack of marketability |  | 45.0 | %
Risk free rate |  | 0.2 | %
Schedule of Profit Unit Interest | The following table summarizes data concerning the profit unit interest (units in thousands):
|  |  |  | Avg Fair Value
|  | Units |  | at Grant Date
Outstanding at December 31, 2019 |  | 9,799 |  | $ | 0.05 |
Granted |  | 2,414 |  | 0.17 |
Forfeited |  | (11) |  | 0.03 |
Outstanding at December 31, 2020 |  | 12,202 |  | 0.08 |
Granted |  | — |  | — |
Forfeited |  | (55) |  | 0.08 |
Outstanding at March 31, 2021 |  | 12,147 |  | 0.08 |
Granted |  | — |  | — |
Forfeited |  | — |  | — |
Outstanding at June 30, 2021 |  | 12,147 |  | 0.08 |
Granted |  | — |  | — |
Forfeited |  | (536) |  | 0.10 |
Exchanged in reverse recapitalization |  | (11,611) |  | 0.08 |
Outstanding at September 30, 2021 |  | — |  | $ | — |
Schedule of Non-vested Units | The following table provides information pertaining to non-vested units (units in thousands):
|  |  |  | Avg Fair Value
|  | Units |  | at Grant Date
Non-vested units at December 31, 2019 |  | 3,467 |  | $ | 0.10 |
Granted |  | 2,414 |  | 0.17 |
Vested |  | (1,132) |  | 0.13 |
Forfeited |  | (11) |  | 0.03 |
Non-vested units at December 31, 2020 |  | 4,738 |  | 0.12 |
Granted |  | — |  | — |
Vested |  | (326) |  | 0.15 |
Forfeited |  | (55) |  | 0.08 |
Non-vested units at March 31, 2021 |  | 4,357 |  | 0.12 |
Granted |  | — |  | — |
Vested |  | (2,522) |  | 0.07 |
Forfeited |  | — |  | — |
Non-vested units at June 30, 2021 |  | 1,835 |  | 0.20 |
Granted |  | — |  | — |
Vested |  | (85) |  | 0.20 |
Forfeited |  | (536) |  | 0.10 |
Exchanged in reverse recapitalization |  | (1,214) |  | 0.22 |
Non-vested units at September 30, 2021 |  | — |  | $ | — |

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- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition 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. + 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 (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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