Quarterly report pursuant to Section 13 or 15(d)

Equity Based Compensation (Tables)

v3.22.1
Equity Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2022
Replacement RS Us [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Activity of Grant
A
 
summary of the each classification of RSU activity for the periods indicated is presented below in thousands, except for share information:
 
                      
Grant Date Fair Value
  
Replacement RSUs
   
Number of
Units
Unvested
    
Number
of Units
Vested
    
Total
Number of
Units
    
Weighted
Average
Price Per
Unit
     
Total Fair
Value (in
thousands)
  
Outstanding, December 31, 2021
   
 
10,392,226
 
  
 
20,640
 
  
 
10,412,866
 
  
$
9.48
 
   
$
98,714
 
Granted
   
 
—   
 
  
 
—   
 
  
 
—   
 
  
 
—   
 
   
 
—   
 
Vested
   
 
(722,398
) 
  
 
722,398
 
  
 
—   
 
  
 
—   
 
   
 
—   
 
Forfeited
   
 
—   
 
  
 
—   
 
  
 
—   
 
  
 
—   
 
   
 
—   
 
Settled
   
 
—   
 
  
 
(20,640
) 
  
 
(20,640
) 
  
 
9.48
 
   
 
(196
) 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
Outstanding, March 31, 2022
   
 
9,669,828
 
  
 
722,398
 
  
 
10,392,226
 
  
$
9.48
 
   
$
98,518
 
    
 
 
    
 
 
    
 
 
    
 
 
     
 
 
  
On March 15, 2022, there was a good leaver event that resulted in 722,398 RSUs being vested. There are
 
3,704,860
Replacement RSUs
that
are scheduled to vest from April 
1
,
2022
to December 
31
,
2022
on the first anniversary of the Business Combination (
April 1, 2022
). Equity based compensation expense for the Replacement RSUs totaled $
15.3
 million and $
0
for the Successor
three
months ended March 
31
,
2022
and the Predecessor period from January 
1
,
2021
to March 
31
,
2021
, respectively. Unrecognized equity based compensation expense for the Replacement RSUs totaled $
51.9
 million as of
 March 
31
,
2022
.
 
                         
Grant Date Fair Value
  
Earnout Right RSUs
   
Number of
Units
Unvested
     
Number
of Units
Vested
     
Total
Number of
Units
     
Weighted
Average
Price Per
Unit
     
Total Fair
Value (in
thousands)
  
Outstanding, December 31, 2021
   
 
1,531,440
 
   
 
—  
 
   
 
1,531,440
 
   
$
8.91
 
   
$
13,638
 
Granted
      —           —          —           —           —     
Forfeited
      —           —          —           —           —     
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Outstanding, March 31, 2022
   
 
1,531,440
 
   
 
—  
 
   
 
1,531,440
 
   
$
8.91
 
   
$
13,638
 
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
                         
Grant Date Fair Value
  
Non-LTIP
RSUs
   
Number
of Units
Unvested
     
Number
of Units
Vested
     
Total
Number
of Units
     
Weighted
Average
Price Per
Unit
     
Total Fair
Value (in
thousands)
  
Outstanding, December 31, 2021
   
 
168,221
 
   
 
—  
 
   
 
168,221
 
   
$
5.35
 
   
$
900
 
Granted
      409,835        —          409,835        3.35        1,373  
Vested
      —          —          —          —          —    
Settled
      —          —          —          —          —    
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Outstanding, March 31, 2022
   
 
578,056
 
   
 
—  
 
   
 
578,056
 
   
$
3.93
 
   
$
2,273