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Share-Based Payments (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Share-Based Payment Arrangement, Option, Activity
The following table presents a summary of employee equity awards comprised of Class A OpCo Units and the corresponding quantity of shares of Class B Common Stock outstanding, granted, forfeited, vested on an accelerated basis and redeemed included in the condensed consolidated statements of operations and comprehensive loss for the following periods:
QuantityCalculated Value
January 1 - June 30, 2024 (Successor)June 8 - June 30, 2023 (Successor)January 1 - June 7, 2023 (Predecessor)January 1 - June 30, 2024 (Successor)June 8 - June 30, 2023 (Successor)January 1 - June 7, 2023 (Predecessor)
Unvested, beginning of period848,4151,895,179226,494$5.21 $13.06 $63.25 
Granted———$— $— $— 
Forfeited—(324,625)—$— $10.82 $— 
Vested(570,675)—(107,418)$4.99 $— $63.18 
Accelerated(36,070)(451,356)—$5.66 $15.05 $— 
Unvested, end of period241,6701,119,198119,076$6.50 $12.91 $63.32 
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
The following table presents a summary of RSU activity during the period from January 1, 2024 through June 30, 2024 (Successor):
QuantityFair Value
Unvested, beginning of period443,221$13.13 
Granted1,778,072$11.11 
Forfeited(15,361)$12.27 
Vested—$— 
Accelerated(14,875)$12.91 
Unvested, end of period2,191,057$11.60 
Schedule of Share-Based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions The assumptions used to calculate the fair value of these awards were:
Weighted average expected life3 years
Risk-free interest rates4.4 %
Expected volatility68.0 %
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions The fair value of the Company’s stock option grants was estimated utilizing the following assumptions:
Weighted average expected life3.35 years
Risk-free interest rates4.27 %
Expected volatility80 %
Share-Based Payment Arrangement, Performance Shares, Activity
The following table presents a summary of PSU activity as of June 30, 2024 and the changes during the period from January 1, 2024 through June 30, 2024 (Successor):
QuantityFair Value
Unvested, beginning of period—$— 
Granted127,71016.24 
Forfeited—— 
Vested—— 
Unvested, end of period127,710$16.24 
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award The following table displays the fair value of shares distributed as payment for services rendered by BHES under the terms of the BHES JDA during the periods described below:
QuantityTotal Fair Value
January 1 - June 30, 2024 (Successor)June 8 - June 30, 2023 (Successor)January 1 - June 7, 2023 (Predecessor)January 1 - June 30, 2024 (Successor)June 8 - June 30, 2023 (Successor)January 1 - June 7, 2023 (Predecessor)
Equivalent Value per Unit or per Share (1)
Membership Interests——9,210$— $— $1,943 $168.75 
Class A OpCo Units1,592,42522,447296,16010,526 148 1,958 $5.29 
Class B Common Stock1,592,42522,447296,160— — — $— 
Total$10,526 $148 $3,901 
___________
(1) The Equivalent Value per Unit is the discounted price per membership interest or per share stipulated in the BHES JDA.
The following table disaggregates the variable compensation payable to BHES should it meet its milestone objectives:
Performance Period End DateCompensation Cost Incurred To DateRemaining Compensation CostTotal Compensation Cost
BHES JDA - variable share-based paymentsJanuary 2027$22,387 $4,958 $27,345