Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions

The following table lists the principal assumptions used estimating the fair value of the Units during the year ended December 31, 2019:

Risk free rate of return	1.6	%
Expected volatility	24.9	%
Expected dividend yield	0.0	%
Discount for Lack of Marketability	20.0	%

Schedule of Stock-Based Compensation Allocation

Stock-based compensation expense related to Class B Units has been allocated between costs of services and general and administrative expenses in the accompanying consolidated statements of income (loss) and comprehensive income (loss) for the years ending December 31, 2020, and 2019 as follows:

	For the Year Ended December 31,
(in thousands)	2020		2019
Cost of services	$	163,025	$	(7,904)
General and administrative	242,818		(6,976)
Total stock-based compensation	$	405,843	$	(14,880)

The Company has allocated stock based compensation expense under the 2020 Omnibus Incentive Plan between costs of services and general and administrative expenses in the accompanying consolidated statements of income (loss) and comprehensive income (loss) for the years ending December 31, 2021, and 2020 as follows:

	For the Year Ended December 31,
(in thousands)	2021		2020
Cost of services	$	2,618	$	—
General and administrative	15,392		211
Total stock-based compensation	$	18,010	$	211

Schedule of Stock Options Roll Forward

Non-qualified stock option activity for the year ended December 31, 2021 is summarized below:

	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contract Term (Years)	Aggregate Intrinsic Value
Nonvested at beginning of period	—	$	—
Awarded	4,167,862	8.43
Nonvested at end of period	4,167,862	$	8.43	3 years, 5 months	$	—
Exercisable at end of period	—	—		—	—

Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

Restricted Stock and Restricted Stock Units activity for the year ended December 31, 2021 is summarized below:

	Employee RS	Director RSUs	Employee RSUs	Fixed Value RSUs	Weighted Average grant date fair value per share
Nonvested at beginning of period	1,468,750	42,847	—	—	$	8.82
Awarded	133,689	87,275	2,903,845	492,610	6.56
Vested	(930,564)	(48,061)	(522,539)	—	8.47
Forfeited	(671,875)	—	(37,325)	—	8.65
Nonvested at end of period	—	82,061	2,343,981	492,610	$	6.24

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following table lists the principal assumptions used in estimating the grant date fair value of NQSOs during the year ended December 31, 2021:

Risk free rate of return	1.10% - 1.52%
Expected volatility	40% - 52%
Expected dividend yield	0.0%
Expected life in years	6 years - 6 years, 3 months
Sub optimal exercise factor	1.9