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Share Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share Based Compensation Expense and Related Income Tax Benefit

The following table summarizes share-based compensation expense and the related income tax benefit recognized for the Company’s share-based compensation awards. Share-based compensation expenses are recorded within Selling, general and administrative in the Company’s Condensed Consolidated Statement of Operations.

		Three Months Ended March 31,
($ in millions)		2024				2023
Share-based compensation expense		$	6.3			$	4.1
Income tax benefit			2.2				1.1

Schedule of Outstanding Performance Stock Units Activity, Restricted Stock Awards, Restricted Stock Units and Performance-based Stock Options

Activity for RSAs for the three months ended March 31, 2024 was as follows:

		Class A Common Stock				Weighted Average Grant Date Fair Value
Unvested at December 31, 2023			3,550,365			$	9.26
Granted			1,832,799				7.97
Forfeited (1)			275,405				11.28
Vested			689,808				10.70
Unvested at March 31, 2024			4,417,951			$	8.38

Activity for RSUs for the three months ended March 31, 2024 was as follows:

		Class A Common Stock				Weighted Average Grant Date Fair Value
Unvested at December 31, 2023			171,384			$	7.41
Granted			—				—
Forfeited			—				—
Vested			—				—
Unvested at March 31, 2024			171,384			$	7.41

Activity for PSUs for the three months ended March 31, 2024 was as follows:

		Class A Common Stock (2)				Weighted Average Grant Date Fair Value
Unvested at December 31, 2023			1,482,791			$	10.88
Granted			—				—
Forfeited			—				—
Vested			—				—
Unvested at March 31, 2024			1,482,791			$	10.88

(1)The forfeited shares include shares forfeited as a result of employee terminations and shares withheld to satisfy employees’ tax withholding and payment obligations in connection with the vesting of restricted stock awards under the Incentive Plan during the three months ended March 31, 2024; further, these forfeited shares are added back to the amount of shares available for grant under the Incentive Plan.

(2)Represent shares to be paid out at 100% target level.

Activity for PSOs for the three months ended March 31, 2024 was as follows:

		Options				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value
Outstanding at December 31, 2023			1,148,822				6.13				7.0			$	2,768,661
Granted			—				—
Forfeited			—				—
Exercised			—				—
Outstanding at March 31, 2024			1,148,822			$	6.13				7.0			$	5,594,763
Options vested and exercisable at March 31, 2024			—			$	—				—			$	—

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

Fair value was estimated on the date of grant using Monte Carlo simulation with the following weighted average assumptions:

		Three Months Ended March 31, 2023
Risk-free interest rate			3.42	%
Expected volatility			52.82	%
Dividend yield			0	%
Expected term (in years)			4.5

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Tabular disclosure of share-based payment arrangement.

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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, 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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