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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Summary Of Stock-Based Compensation Expense
Stock-based compensation expense is recognized in cost of revenues, corporate technology and production systems, and selling, general and administrative expense in the accompanying unaudited condensed consolidated statements of operations and comprehensive income as follows:
 Three Months Ended
September 30,
Nine Months Ended
September 30,
(in thousands)2023202220232022
Stock-based compensation expense
Cost of revenues$396 $384 $1,218 $1,208 
Corporate technology and production systems776 774 1,993 1,803 
Selling, general and administrative8,611 5,135 23,973 14,413 
Total stock-based compensation expense$9,783 $6,293 $27,184 $17,424 
Schedule of Share-based Payment Arrangement, Option, Activity
The table below provides a summary of service-based vesting options (“SVOs”) and performance-based stock options (“PSOs”) currently outstanding under the 2015 Plan for the nine months ended September 30, 2023:
Outstanding SVOsOutstanding PSOs
Number of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life
(years)
Aggregate
Intrinsic
Value
Number of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life
(years)
Aggregate
Intrinsic
Value
(in thousands, except shares and per share amounts)
Balances at December 31, 20226,208,274 $9.59 5.00$36,513 3,081,855 $10.05 3.32$16,699 
Granted— — — — 
Forfeited / Expired— — — — 
Exercised(213,783)9.44 (14,975)9.68 
Balances at September 30, 2023(1)
5,994,491 $9.59 4.30$18,139 3,066,880 $10.05 2.58$7,872 
_________________________
(1)    All SVOs and PSOs are exercisable as of September 30, 2023.
The table below provides a summary of stock option activity under the 2021 Equity Plan for the nine months ended September 30, 2023:
Number of SharesWeighted Average Exercise PriceWeighted Average Contractual Term (in years)Aggregate Intrinsic Value
Outstanding at December 31, 20224,387,501 $22.91 8.81$— 
Granted909,431 12.77 
Forfeited / Expired— — 
Exercised — — 
Outstanding at September 30, 20235,296,932 $21.17 8.30$7,516 
Exercisable at September 30, 20231,779,123 $22.98 7.99$— 
Schedule of Share-based Payment Arrangement, Restricted Stock Activity
The table below provides a summary of restricted stock activity under the 2021 Equity Plan for the nine months ended September 30, 2023:
Number of SharesWeighted Average Fair Value
(per share)
Unvested at December 31, 20223,421,920 $20.32 
Granted2,177,482 12.46 
Forfeited / Cancelled(306,240)16.10 
Vested(792,403)22.21 
Unvested at September 30, 20234,500,759 $16.48 
The table below provides a summary of RSU activity under the 2021 Equity Plan for the nine months ended September 30, 2023:
Number of SharesWeighted Average Fair Value
(per share)
Unvested at December 31, 202251,249 $21.18 
Granted93,026 14.36 
Forfeited / Cancelled(3,287)17.99 
Vested(17,177)22.87 
Unvested at September 30, 2023123,811 $15.79