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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2022
PROFITS INTEREST UNITS  
Summary of stock-based compensation expense

Year Ended

December 31,

2022

2021

    

2020

Cost of sales

$

3,762

$

8,697

$

Selling, general, and administrative

 

46,872

 

120,078

 

1,827

$

50,634

$

128,775

$

1,827

Schedule of assumptions used to determine the fair value of option awards granted

The following table sets forth the significant assumptions used in the Black-Scholes option-pricing model on a weighted-average basis to determine the fair value of option awards granted:

Year Ended

December 31,

2022

2021

Risk-free interest rate

 

2.06

%

0.64

%

Expected volatility

 

39.68

%

38.19

%

Expected term (in years)

 

6.25

6.25

Expected dividend yield

 

0.00

%

0.00

%

Schedule of restricted stock awards

The following table represents the Company’s restricted stock awards activity during the year ended December 31, 2022:

Weighted-

Average Grant-

    

Shares

    

Date Fair Value

Outstanding at January 1, 2022

 

5,803,124

$

19.00

Granted

 

 

Vested

 

(2,746,520)

 

19.00

Forfeited

 

(480,385)

 

19.00

Outstanding at December 31, 2022

 

2,576,219

$

19.00

Schedule of restricted stock units

The following table represents the Company’s restricted stock units activity during the year ended December 31, 2022:

    

    

Weighted-

Average Grant-

Shares

Date Fair Value

Outstanding at January 1, 2022

 

278,591

$

19.08

Granted

 

544,832

 

6.92

Vested

 

(186,613)

 

19.05

Forfeited

 

(18,869)

 

19.00

Outstanding at December 31, 2022

 

617,941

$

8.37

Schedule of stock option activity

The following table represents the Company’s stock option activity during the year ended December 31, 2022:

    

Weighted-

    

Weighted-

    

Average 

Average 

Exercise Price

Remaining 

Aggregate 

    

Shares

    

 per Share

    

Contract Term

    

Intrinsic Value

 

 

(in years)

(in thousands)

Outstanding at January 1, 2022

 

822,886

$

19.08

 

Granted

 

1,514,372

13.22

 

  

 

  

Exercised

 

 

  

 

  

 

  

Forfeited

 

(422,588)

 

17.25

 

  

 

  

Outstanding at December 31, 2022

 

1,914,670

$

14.85

 

8.89

$

Vested and expected to vest at December 31, 2022

 

1,914,670

$

14.85

 

8.89

$

Options exercisable at December 31, 2022

 

174,607

$

19.03

 

7.39

$