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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2023

PROFITS INTEREST UNITS

Summary of stock-based compensation expense

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended								​
​	​	December 31,								​
​	​	2023		​	2022			2021		​
Cost of sales	​	$	81	​	$	3,762	​	$	8,697	​
Selling, general, and administrative	​		18,723	​		46,872	​		120,078	​
​	​	$	18,804	​	$	50,634	​	$	128,775	​

Schedule of assumptions used to determine the fair value of option awards granted

The following table sets forth the significant assumptions used in the Black-Scholes option-pricing model on a weighted-average basis to determine the fair value of stock appreciation rights awards granted:

​	​	​	​
​	​	Year Ended	​
​		December 31, 2023
Risk-free interest rate	​	3.54	%
Expected volatility	​	40.34	%
Expected term (in years)	​	6.25	​
Expected dividend yield	​	0.00	%

​

The following table sets forth the significant assumptions used in the Black-Scholes option-pricing model on a weighted-average basis to determine the fair value of option awards granted:

​

​	​	​	​
​	​	Year Ended	​
​	​	December 31, 2022
Risk-free interest rate		2.06	%
Expected volatility		39.68	%
Expected term (in years)		6.25	​
Expected dividend yield		0.00	%

Schedule of restricted stock awards

The following table represents the Company’s restricted stock awards activity during the year ended December 31, 2023:

​

​	​	​	​	​	​
​	​	​	​	Weighted-
​	​	​	​	Average Grant-
​		Shares		Date Fair Value
Outstanding at January 1, 2023		2,576,219	​	$	19.00
Granted		—	​		—
Vested		(2,377,883)	​		19.00
Forfeited		(155,450)	​		19.00
Outstanding at December 31, 2023		42,886	​	$	19.00

Schedule of restricted stock units

The following table represents the Company’s restricted stock units activity during the year ended December 31, 2023:

​

​	​	​	​	​	​
​		​		Weighted-
​	​	​	​	Average Grant-
​	​	Shares	​	Date Fair Value
Outstanding at January 1, 2023		617,941	​	$	8.37
Granted		2,345,746	​		3.18
Vested		(465,863)	​		7.63
Forfeited		(262,345)	​		3.90
Outstanding at December 31, 2023		2,235,479	​	$	3.60

Schedule of stock option activity

The following table represents the Company’s stock option activity during the year ended December 31, 2023:

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​		​	Weighted-		Weighted-		​	​
​	​	​	​	​	Average	​	Average	​	​	​
​	​	​	​	Exercise Price		​	Remaining	​	Aggregate
​		Shares		per Share			Contract Term		Intrinsic Value
​		​		​	​	​	(in years)	​	(in thousands)
Outstanding at January 1, 2023		1,914,670	​	$	14.85		​	​	​	​
Granted		—	​	​	—			​
Exercised		—	​		—			​
Forfeited		(311,344)	​		11.37			​
Expired	​	(82,922)	​	​	17.75	​	​	​	​	​
Outstanding at December 31, 2023		1,520,404	​	$	15.40		7.94	​	$	—
Vested and expected to vest at December 31, 2023		1,520,404	​	$	15.40		7.94	​	$	—
Options exercisable at December 31, 2023		521,173	​	$	16.38		7.77	​	$	—

Schedule of stock appreciation rights activity

The following table represents the Company’s stock appreciation rights activity during the year ended December 31, 2023:

​	​	​	​	​	​	​	​	​	​	​
​	​	​		​	Weighted-		Weighted-		​	​
​	​	​	​	​	Average	​	Average	​	​	​
​	​	​	​	Exercise Price		​	Remaining	​	Aggregate
​		Shares		per Share			Contract Term		Intrinsic Value
​		​		​	​	​	(in years)	​	(in thousands)
Outstanding at January 1, 2023		—	​	$	—		​	​	​	​
Granted		849,058	​	​	3.17			​
Exercised		—	​		—			​
Forfeited		(93,256)	​		3.24			​
Outstanding at December 31, 2023		755,802	​	$	3.16		9.37	​	$	24,729
Vested and expected to vest at December 31, 2023		755,802	​	$	3.16		9.37	​	$	24,729
Stock appreciation rights exercisable at December 31, 2023		—	​	$	—		—	​	$	—

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