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Equity-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
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, 2021Year Ended December 31, 2020
Restricted Stock UnitsWeighted Average Grant Date Fair ValueRestricted Stock Units
Unvested at beginning of period985,398 $28.84 — 
Granted4,656,717 $59.01 1,055,609 
Vested(443,647)$35.82 (26,674)
Forfeited(344,673)$46.15 (43,537)
Unvested at end of period4,853,795 $56.74 985,398 
Schedule of Equity-based Units Activity
Restricted Stock activity was as follows during the periods indicated:
Year Ended December 31, 2021Year Ended December 31, 2020
Restricted stockWeighted Average Grant Date Fair ValueRestricted stock
Unvested at beginning of period— $— — 
Exchanged HoldCo Units872,371 $9.36 — 
Exchanged Class P Units3,380,469 $4.96 — 
Exchanged LTIP Units294,665 $47.34 — 
Vested(992,945)$6.20 — 
Forfeited(29,187)$9.42 — 
Unvested at end of period3,525,373 $9.21 — 
HoldCo Unit activity was as follows during the periods indicated:
Year Ended December 31, 20201Year Ended December 31, 2020
HoldCo UnitsWeighted Average Grant Date Fair ValueHoldCo Units
Unvested at beginning of period1,214,105 $9.13 — 
Effect of Reorganization Transactions and IPO— $— 1,332,239 
Exchanged for Restricted Stock(872,371)$9.36 — 
Vested(298,177)$8.51 (74,207)
Forfeited(43,557)$9.01 (43,927)
Unvested at end of period— $— 1,214,105 
Class P Unit activity was as follows during the periods indicated:
Year Ended December 31, 2021Year Ended December 31, 2020Year Ended December 31, 2019
Class P UnitsWeighted Average Participation ThresholdClass P UnitsClass P Units
Unvested at beginning of period8,796,642 $6.59 16,893,603 5,716,467 
Effect of Reorganization Transactions and IPO— $— (1,950,930)— 
Exchanged for Restricted Stock(3,855,843)$8.20 — — 
Granted— $— 642,500 13,310,663 
Vested(4,846,178)$6.01 (6,357,566)(280,563)
Forfeited(94,621)$6.56 (430,965)(1,852,964)
Unvested at end of period— $— 8,796,642 16,893,603 
LTIP Unit activity was as follows during the periods indicated:
Year Ended December 31, 2021Year Ended December 31, 2020
LTIP UnitsWeighted Average Participation ThresholdLTIP Units
Unvested at beginning of period47,620 $21.00 — 
Exchanged for Restricted Stock(294,665)$47.34 — 
Granted247,045 $52.42 47,620 
Unvested at end of period— $— 47,620 
OpCo Unit activity was as follows during the periods indicated:
Year Ended December 31, 2021Year Ended December 31, 2020Year Ended December 31, 2019
OpCo UnitsWeighted Average Grant Date Fair ValueOpCo UnitsOpCo Units
Unvested at beginning of period— $— 228,819 441,681 
Effect of Reorganization Transactions and IPO— $— (6,909)— 
Vested— $— (162,218)(118,867)
Forfeited— $— (59,692)(93,995)
Unvested at end of period— $— — 228,819 
Schedule of Unvested Options Activity
Options activity was as follows during the period indicated:
Year Ended December 31, 2021Year Ended December 31, 2020
OptionsWeighted Average Exercise PriceOptions
Unvested at beginning of period552,440 $21.00 — 
Effect of Reorganization Transactions and IPO— $— 576,708 
Vested(329,693)$21.00 — 
Forfeited(33,025)$21.00 (24,268)
Unvested at end of period189,722 $21.00 552,440 
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, 2021.
December 31, 2021
Aggregate intrinsic value (in millions)
Unit Options outstanding$18.0 
Unit Options exercisable$9.8 
Weighted average remaining contractual life (in years)
Unit Options outstanding8.3 years
Unit Options exercisable8.1 years
Schedule of Valuation Assumptions The fair value of Class A Common 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$21.00
Summary of Unamortized Equity-Based Compensation Costs
As of December 31, 2021, unamortized equity-based compensation costs related to each equity-based incentive award described above is the following:
($ in millions, periods in years)
AmountWeighted Average Remaining Service Period
Restricted Stock Units$251.1 2.7
Class A Common Stock Options0.6 1.6
Restricted Stock25.2 1.7
HSKB Incentive Units19.0 0.7
HSKB Phantom Units12.1 3.1
Total unamortized equity-based compensation cost$308.0