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Equity (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Assumptions Used to Determine Fair Value of Stock Options Granted

The fair value of the stock options granted during the six months ended June 30, 2022 and 2021 was determined using the Black-Scholes option pricing model with the following assumptions:

			June 30, 2022						June 30, 2021
Expected volatility			73.2 - 76.0%						75.9 - 78.0%
Expected term (years)			5.5 - 7.0						5.5 - 7.0
Risk free interest rate			1.5% - 3.3%						0.5% - 1.2%
Expected dividend yield			0		%				0		%
Exercise price			$36.79 - $78.91						$66.82 - $82.21

Summary of Stock Option Activity

A summary of the stock option activity under the 2018 Plan during the six months ended June 30, 2022 is presented below. These amounts include stock options granted to employees and directors.

(dollars in millions, except weighted average exercise price)						Options						Weighted Average Exercise Price						Weighted Average Remaining Contractual Term (Years)						Aggregate Intrinsic Value
Outstanding at December 31, 2021						5,343,254						$	44.98
Granted						1,464,743						$	62.88
Exercised						(147,409)						$	17.61
Forfeited						(123,827)						$	58.27
Outstanding at June 30, 2022						6,536,761						$	49.36					8.1						$	54.2
Exercisable at June 30, 2022						3,071,122						$	33.89					7.1						$	47.1

Summary of Restricted Stock Grant Activity

A summary of restricted stock award activity under the Incentive Plan during the six months ended June 30, 2022 is presented below. These amounts include restricted stock granted to employees and directors.

						Shares						Weighted Average Grant Date Fair Value Per Share
Unvested restricted stock at December 31, 2021						30,625						$	16.00
Vested						(29,305)						$	16.00
Cancelled						(1,320)						$	16.00
Unvested restricted stock at June 30, 2022						—						$	16.00

A summary of restricted stock unit activity under the 2018 Plan during the six months ended June 30, 2022 is presented below. These amounts include restricted stock units granted to employees.

						Shares						Weighted Average Grant Date Fair Value Per Share
Unvested restricted stock units at December 31, 2021						88,307						$	20.02
Granted						222,213						$	63.03
Vested						(38,490)						$	19.36
Cancelled						(5,114)						$	35.21
Unvested restricted stock units at June 30, 2022						266,916						$	55.63

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
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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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