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Equity-Based Compensation and Equity (Tables)
12 Months Ended
Dec. 31, 2020
Share Based Compensation Activity
The following table summarizes the activity in the Common Series C Units during the years ended December 31, 2020, 2019 and 2018:
 
   
Year Ended December 31,
 
   
2020
   
2019
   
2018
 
Beginning of the period
   174,190    156,975    150,906 
Grants
   2,900    21,953    10,830 
Forfeitures
   (5,064   (4,738   (4,416
Repurchases
   —      —      (345
  
 
 
   
 
 
   
 
 
 
End of the period
   172,026    174,190    156,975 
  
 
 
   
 
 
   
 
 
 
 
The following table summarizes the activity in the Common Series
C-2
Units during the years ended December 31, 2020, 2019 and 2018:
 
   
Year Ended December 31,
 
   
2020
   
2019
   
2018
 
Beginning of the period
   33,400    33,525    —   
Grants
   2,500    1,425    34,275 
Forfeitures
   (3,625   (1,550   (750
  
 
 
   
 
 
   
 
 
 
End of the period
   32,275    33,400    33,525 
  
 
 
   
 
 
   
 
 
 
Common Series C Units [Member]  
Schedule Of Assumption Used To Determine Fair Value
The following weighted average assumptions were used in determining the fair value of Common Series C Unit grants made during the years ended December 31, 2020, 2019, and 2018:
 
   
Year Ended December 31,
 
   
2020
  
2019
  
2018
 
Grant date fair value
  $201.25  $37.90  $167.40 
Dividend yield
   0.0  0.0  0.0
Expected volatility
   75.3  41.2  36.0
Risk-free interest rate
   0.2  2.5  2.3
Lack of marketability discount
   30.5  31.3  29.2
Expected term (years)
   1.0   1.0   1.0 
Common Series D Units [Member]  
Schedule Of Assumption Used To Determine Fair Value
The following assumptions were used in determining the fair value for the years ended December 31, 2020, 2019, and 2018:
 
   
Year Ended December 31,
 
   
2020
  
2019
  
2018
 
Grant date fair value
  $300.00  $300.00  $300.00 
Dividend yield
   0.0  0.0  0.0
Expected volatility
   48.0  44.0  40.0
Risk-free interest rate
   0.1  1.6  2.6
Lack of marketability discount
   23.0  26.0  25.0
Expected term (years)
   1.0   1.0   1.0 
Common Series C2 Units [Member]  
Schedule Of Assumption Used To Determine Fair Value
The following weighted average assumptions were used in determining the fair value of Common Series
C-2
Unit grants made during the years ended December 31, 2020, 2019 and 2018:
 
   
Year Ended December 31,
 
   
2020
  
2019
  
2018
 
Grant date fair value
  $223.00  $284.00  $652.99 
Dividend yield
   0.0  0.0  0.0
Yield Test Probability
   23.3  39.0  97.1
Cost of Equity Capital
   11.8  11.1  12.3
Expected term (years)
   1.0   2.0   3.0