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Equity-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Assumptions Were Utilized In Determining the Fair Value of the Units at the Grant Date

The following assumptions were utilized in determining the fair value of the units at the grant date:

Expected dividend			—
Expected volatility			60% to 85%
Risk-free interest rate			0.13% to 2.53%
Expected life of incentive awards (in years)			1 to 5 years
Grant date performance and market threshold			$35,000 to $1,250,000

The following weighted average assumptions were utilized in determining the fair value of options granted:

Weighted average grant date fair value			$4.52
Expected dividend			—
Expected volatility			57%
Risk-free interest rate			2.60%
Options term (in years)			4.5

The Company used the Monte Carlo pricing model to estimate the fair value of PSUs utilizing the following assumptions at the grant date:

Expected dividend			—
Expected volatility			65%
Risk-free interest rate			3.97%
Award term years			4.3
Valuation date share price			$6.21

Schedule of Changes in the Number of Incentive Units

The following table summarizes the changes in the number of Incentive Units for the three months ended March 31, 2023:

			Incentive Units						Weighted Average Grant Date Fair Value
Granted and outstanding at January 1, 2023			14,210						$	192.52
Granted			—						—
Forfeited			—						—
Granted and outstanding at March 31, 2023			14,210						$	192.52
Vested at March 31, 2023			3,323						$	211.43

The following table summarizes information about stock options activities for the three months ended March 31, 2023:

			Stock Options						Weighted Average Exercise Price
Outstanding at January 1, 2023			792,370						$	9.77
Granted			126,556						7.34
Forfeited			(22,724)						9.10
Outstanding at March 31, 2023			896,202						$	9.44
Vested at March 31, 2023			150,696						$	10.00

The following table summarizes information about the RSUs under the Omnibus Plan for the three months ended March 31, 2023:

			Restricted Stock Units						Weighted Average Grant Date Fair Value
Nonvested at January 1, 2023			823,829						$	10.68
Granted			141,729						7.34
Forfeited			(37,475)						11.03
Vested			(4,562)						13.70
Nonvested at March 31, 2023			923,521						$	10.14

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- Definition

Tabular disclosure of the changes in outstanding nonvested shares.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

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- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

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