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Equity-Based Compensation
 6 Months Ended
Jun. 30, 2024
Equity-Based Compensation  
Equity-Based Compensation

Note 17. Equity-Based Compensation

During the three and six months ended June 30, 2024, the Company granted 0.1 million and 1.4 million restricted stock units (“RSUs”), respectively, under the Westrock Coffee Company 2022 Equity Incentive Plan (the “2022 Equity Plan”). The RSUs had a grant date fair value of $1.0 million and $13.2 million, respectively, which was calculated using the closing price of the Common Shares on the applicable date of grant. The RSUs are amortized on a straight-line basis to expense over the vesting period. For RSUs issued during 2024, the vesting period is four years, and for RSUs issued prior to 2024, the vesting period is three years. As of June 30, 2024, there were 2.7 million shares available for future issuance under the 2022 Equity Plan.

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The following table sets forth the RSU activity under the 2022 Equity Plan for the six months ended June 30, 2024.

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Weighted-Average

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Fair Value at

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Units

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Grant Date

Outstanding at December 31, 2023

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1,989,782

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$

11.51

Granted

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1,367,139

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9.66

Forfeited

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(128,150)

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10.58

Vested

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(373,293)

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11.93

Outstanding at June 30, 2024

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2,855,478

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$

10.61

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