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Equity-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Unit Activity
Restricted Stock Unit (“RSU”) activity was as follows during the periods indicated:
Year Ended December 31, 2020
Restricted Stock UnitsWeighted Average Grant Date Fair Value
Unvested at beginning of period— $— 
Granted1,055,609 $29.09 
Vested(26,674)$21.00 
Forfeited(43,537)$28.67 
Unvested at end of period985,398 $28.84 
Schedule of Unvested Options Activity
Outstanding options activity was as follows during the period indicated:
Year Ended December 31, 2020
OptionsWeighted Average Exercise Price
Outstanding at beginning of period— $— 
Effect of Reorganization Transactions and IPO576,708 $21.00 
Forfeited(24,268)$21.00 
Outstanding at end of period552,440 $21.00 
There were no options exercisable at the end of the year. Options have a maximum contractual term of ten years. The aggregate intrinsic value and weighted average remaining contractual terms of Options outstanding and Options exercisable were as follows as of December 31, 2020.
Aggregate intrinsic value (in millions)
Unit Options outstanding$15.0 
Unit Options exercisable$— 
Weighted average remaining contractual life (in years)
Unit Options outstanding9.4 years
Unit Options exercisableN/A
Equity-based Units Activity
Unvested HoldCo Unit activity was as follows during the periods indicated:
Year Ended December 31, 2020
HoldCo UnitsWeighted Average Grant Date Fair Value
Unvested at beginning of period— $— 
Effect of Reorganization Transactions and IPO1,332,239 $8.98 
Vested(74,207)$6.27 
Forfeited(43,927)$9.36 
Unvested at end of period1,214,105 $9.13 
OpCo Unit activity was as follows during the periods indicated:
Year Ended December 31, 2020Year Ended December 31, 2019
OpCo UnitsWeighted Average Grant Date Fair ValueOpCo Units
Unvested at beginning of period228,819 $1.72 441,681 
Effect of Reorganization Transactions and IPO(6,909)$10.48 — 
Vested(162,218)$1.72 (118,867)
Forfeited(59,692)$0.68 (93,995)
Unvested at end of period— $— 228,819 
Class P Units were issued under both the prior and current LLC agreement of ZoomInfo OpCo. Class P Unit activity was as follows during the periods indicated:
Year Ended December 31, 2020Year Ended December 31, 2019Year Ended December 31, 2018
Class P UnitsWeighted Average Participation ThresholdClass P UnitsClass P Units
Unvested at beginning of period16,893,603 $6.19 5,716,467 — 
Effect of Reorganization Transactions and IPO(1,950,930)$7.01 — — 
Granted642,500 $21.00 13,310,663 5,716,467 
Vested(6,357,566)$5.05 (280,563)— 
Forfeited(430,965)$6.56 (1,852,964)— 
Unvested at end of period8,796,642 $6.59 16,893,603 5,716,467 
LTIP Unit activity was as follows during the periods indicated:
Year Ended December 31, 2020
LTIP UnitsWeighted Average Participation Threshold
Unvested at beginning of period— $— 
Granted47,620 $21.00 
Unvested at end of period47,620 $21.00 
Schedule of Valuation Assumptions The fair value of Class A stock options granted at the time of the IPO was determined using the Black-Scholes option pricing model with the following assumption ranges and fair value per unit:
Year Ended December 31, 2020
Volatility
39.0% to 39.3%
Expected life
5.6 to 5.9 years
Risk-free rate0.5%
Fair value per unit$21.00
The fair value of Class P Units granted was determined using the Black-Scholes option pricing model with the following assumption ranges and fair value per unit:
Year Ended December 31,
202020192018
Risk-free rate0.5%
1.58% - 2.49%
2.49% - 2.82%
Volatility39.9%
38.4% - 41.9%
39.1% - 41.2%
Expected life
6.5 - 6.8 years
4 years4 years
Marketability discountN/A(A)29%
Fair value per unit$21.00
$5.20 - $14.36
$4.00 - $5.20
(A)In June 2019, the Company began to apply a probability weighted expected return method, where equity values were calculated using an option pricing model under an IPO and non-IPO scenarios and each value was weighted based on estimated probability of occurrence. For common units, an estimated time until a liquidation event of 1.5 - 4.0 years and a marketability discount of 13% - 25% was used, depending on an IPO or non-IPO scenarios. As of December 31, 2019, an 80% weight was applied to an IPO scenario.
Equity-Based Compensation Expense
The HSKB Incentive Units and HSKB Phantom Units both have time-based vesting conditions that were conditional upon the completion of an IPO. In addition, there were four Class P Unit grants with vesting that accelerated upon completion of an IPO. As a result, in the quarter ended June 30, 2020, the Company recognized an additional $57.6 million of expense attributable to the service period already elapsed on HSKB Incentive Units and HSKB Phantom Units, plus the acceleration of vesting on select Class P Units. Including this extra charge as a result of completing the IPO, compensation expense incurred from all the equity-based incentive awards described above was the following (in millions):
Year Ended December 31,
202020192018
Cost of service and Operating expenses include equity-based compensation expenses as follows:
Cost of service$27.4 $4.0 $8.3 
Sales and marketing62.6 11.2 15.8 
Research and development13.6 4.7 1.1 
General and administrative18.0 5.2 7.5 
Total equity-based compensation expense$121.6 $25.1 $32.7 
Summary of Unamortized Equity-Based Compensation Costs
As of December 31, 2020, unamortized equity-based compensation costs related to each equity-based incentive award described above is the following:
($ in millions, periods in years)
AmountWeighted Average Remaining Service Period
Restricted Stock Units$29.2 3.5
Class A Common Stock Options1.1 2.6
HoldCo Units7.0 2.5
Class P Units23.8 2.3
LTIP Units0.9 3.9
HSKB Incentive Units55.3 1.7
HSKB Phantom Units4.4 2.5
Total unamortized equity-based compensation cost$121.7