Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.22.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following inputs and assumptions were used to value the stock options under the Equity Plan as of the grant dates for the years indicated:
Year Ended December 31,
2021 2020 2019
Dividend yield NA NA NA
Expected term 5 Years 5 Years 5 Years
Risk-free interest rate 0.5  % 2.1  % 3.0  %
Expected volatility 43.3  % 42.5  % 44.2  %
The following inputs and assumptions were used to value the stock options under the Omnibus Plan as of the grant dates for the years indicated:
Year Ended
December 31, 2021
Dividend yield — 
Expected term 6.11 Years
Risk-free interest rate 1.30  %
Expected volatility 28.79  %
Share-based Payment Arrangement, Option, Activity
The following is a summary of stock option activity under the Equity Plan:
Number of Options Weighted Average Exercise
Price
Weighted- Average Remaining Contractual Term
 (in years)
Aggregate Intrinsic Value
Stock options
Options outstanding at December 31, 2020 3,755,942  $ 16.19 
Options granted 229,194  18.32
Options exercised —  — 
Options cancelled/forfeited (224,817) 16.14 
Options outstanding at December 31, 2021 3,760,319  $ 16.32  6.85 $ 93,299 
Options vested and exercisable at December 31, 2021 1,326,620  $ 16.10  6.48 $ 37,465 
Options vested and expected to vest
3,760,319  $ 16.32  6.85 $ 93,299 
A summary of the Company’s stock option activity under the Omnibus Incentive Plan is as follows:
Number of Options Weighted Average Exercise
Price
Weighted- Average Remaining Contractual Term
(in years)
Aggregate Intrinsic Value
Stock options
Options outstanding at December 31, 2020 —  $ — 
Options granted 1,949,558  19.00 
Options exercised —  — 
Options cancelled/forfeited (60,245) 19.00 
Options outstanding at December 31, 2021 1,889,313  $ 19.00  9.82 $ — 
Options vested and exercisable at December 31, 2021 —  $ —  —  $ — 
Options vested and expected to vest
1,889,313  $ 19.00  9.82 $ — 
Schedule of Unvested Restricted Stock Units Roll Forward
A summary of RSU activity under the Omnibus Incentive Plan is as follows:
Number of Shares Weighted Average Grant Date Fair Value
Unvested as of December 31, 2020 —  $ — 
Granted 730,718  18.97
Vested —  — 
Cancelled/forfeited (19,983) 19.00 
Unvested as of December 31, 2021 710,735 $ 18.97