Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

A summary of the Class P Unit activity for the nine months ended September 30, 2021 is as follows:


						Number of Units
Outstanding Class A-3 and Class B Units, December 31, 2020						274,816
Repurchases						(8,279)
Cancellations						(4,288)
Outstanding Class A-3 and Class B Units, June 15, 2021 (Pre-Business Combination)						262,249
Class A-3 Units outstanding exchanged for Class A Units in connection with the Business Combination						(53,333)
Recapitalization in connection with the Business Combination						25,687,126
Outstanding Class P Units, June 16, 2021						25,896,042
Cancellations						(216,920)
Outstanding Class P Units, September 30, 2021						25,679,122
Vested, September 30, 2021						23,197,454

Schedule of Restricted Stock Units Activity

A summary of the restricted stock unit (“RSU”) activity for the nine months ended September 30, 2021 is as follows:


	Number of RSUs	Weighted-average Grant Date Fair Value
Non-vested at December 31, 2020	—	$	—
Granted	4,112,855	$	13.66
Vested	(242,600)	$	13.70
Forfeited	(11,310)	$	13.70
Non-vested at September 30, 2021	3,858,945	$	13.66

Schedule of Stock-based Payment Arrangement

The Company recorded stock-based compensation cost related to the Class P Units and RSUs in the following expense categories on the accompanying condensed consolidated statements of income (in thousands):


	Three Months Ended September 30, 2021		Nine Months Ended September 30, 2021
Sales and marketing	$	689	$	4,515
Product development	1,865		3,859
General and administrative	1,638		15,251
Total stock-based compensation expense	4,192		23,625
Amount capitalized to software development	695		695
Total stock-based compensation cost	$	4,887	$	24,320