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Share Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2025
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) |  | 2025 |  |  | 2024 |
Share-based compensation expense |  | $ | 5.3 |  |  | $ | 6.3 |
Income tax benefit |  |  | 2.2 |  |  |  | 2.2 |
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, 2025 was as follows:
|  | Class A Common Stock |  |  | Weighted Average Grant Date Fair Value |
Unvested at December 31, 2024 |  |  | 3,985,097 |  |  | $ | 8.31 |
Granted |  |  | 2,327,269 |  |  |  | 6.29 |
Forfeited (1) |  |  | 524,723 |  |  |  | 8.88 |
Vested |  |  | 743,648 |  |  |  | 9.26 |
Unvested at March 31, 2025 |  |  | 5,043,995 |  |  | $ | 7.18 |
(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, 2025; further, these forfeited shares are added back to the amount of shares available for grant under the Incentive Plan. Activity for RSUs for the three months ended March 31, 2025 was as follows:
|  | Class A Common Stock |  |  | Weighted Average Grant Date Fair Value |
Unvested at December 31, 2024 |  |  | 130,923 |  |  | $ | 9.70 |
Granted |  |  | — |  |  |  | — |
Forfeited |  |  | — |  |  |  | — |
Vested |  |  | — |  |  |  | — |
Unvested at March 31, 2025 |  |  | 130,923 |  |  | $ | 9.70 |
Activity for PSUs for the three months ended March 31, 2025 was as follows:
|  | Class A Common Stock (1) |  |  | Weighted Average Grant Date Fair Value |
Unvested at December 31, 2024 |  |  | 1,865,080 |  |  | $ | 10.57 |
Granted |  |  | 1,132,134 |  |  |  | 7.78 |
Forfeited |  |  | 33,118 |  |  |  | 13.03 |
Vested |  |  | — |  |  |  | — |
Unvested at March 31, 2025 |  |  | 2,964,096 |  |  | $ | 9.48 |
(1) Represent shares to be paid out at 100% target level. Activity for PSOs for the three months ended March 31, 2025 was as follows:
|  | Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value |
Outstanding at December 31, 2024 |  |  | 1,089,930 |  |  |  | 6.13 |  |  |  | 7.0 |  |  | $ | 1,634,895 |
Granted |  |  | — |  |  |  | — |  |  |  |  |  |  |
Forfeited |  |  | — |  |  |  | — |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  | — |  |  |  |  |  |  |
Outstanding at March 31, 2025 |  |  | 1,089,930 |  |  | $ | 6.13 |  |  |  | 7.0 |  |  | $ | (610,361 | )
Options vested and exercisable at March 31, 2025 |  |  | 294,462 |  |  | $ | 6.13 |  |  |  | 7.0 |  |  | $ | (164,899 | )

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