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Stock and Unit-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Restricted Stock Awards (RSA) Activity

The following is a summary of restricted stock transactions as of and for the year ended December 31, 2021 (Successor):

 

 

 

Unvested Shares

 

 

Weighted-Average Grant Date
Fair Value

 

Unvested, June 9, 2021 (Successor)

 

 

 

 

$

 

Converted

 

 

30,766

 

 

 

11.98

 

Granted

 

 

 

 

 

 

Vested

 

 

(7,265

)

 

 

11.98

 

Unvested, December 31, 2021 (Successor)

 

 

23,501

 

 

$

11.98

 

Summary of Restricted Stock Unit (RSU) Activity

The following is a summary of RSU transactions as of and for the year ended December 31, 2021 (Successor):

 

 

 

Unvested Shares

 

 

Weighted-Average Grant Date
Fair Value

 

Outstanding, June 9, 2021 (Successor)

 

 

 

 

$

 

Converted

 

 

 

 

 

 

Granted

 

 

6,208

 

 

 

17.93

 

Vested

 

 

(106

)

 

 

17.23

 

Canceled and forfeited

 

 

(71

)

 

 

18.00

 

Outstanding, December 31, 2021 (Successor)

 

 

6,031

 

 

$

17.95

 

Summary of Stock and Unit Based Compensation Award Valuation Assumptions

Accordingly, the Company determined the fair value of each award on the date of grant using a Monte Carlo simulation model with the following assumptions used for the grants issued for the year ended December 31, 2021 (Successor) and the period from April 13, 2020 to December 31, 2020 (Successor):

 

 

 

Successor

 

 

 

Year Ended
December 31, 2021
(1)

 

 

April 13 to
December 31, 2020

 

Risk-free rate

 

 

0.14

%

 

 

0.20

%

Volatility

 

 

80.00

%

 

 

40.00

%

Time to liquidity event (years)

 

 

2.00

 

 

 

3.00

 

Discount for lack of marketability (DLOM)

 

 

 

 

 

20.00

%

(1)
Assumptions are for the Class B Profits Interests Units through the date of the Company's IPO on June 9, 2021.
Summary of Class B Profits Interests Units

The following is a summary of Class B Profits Interests Units for the periods presented:

 

 

 

Class B Profits
Interests

 

 

Weighted-
Average
Grant Date
Fair Value

 

Outstanding, April 13, 2020 (Successor)

 

 

 

 

$

 

Granted

 

 

143,343

 

 

 

0.13

 

Outstanding, December 31, 2020 (Successor)

 

 

143,343

 

 

$

0.13

 

Granted

 

 

9,522

 

 

 

0.16

 

Forfeited

 

 

(245

)

 

 

0.13

 

Converted

 

 

(152,620

)

 

 

0.13

 

Outstanding, December 31, 2021 (Successor)

 

 

 

 

$

 

Summary Of Unit Based Compensation Expense

The Company recognized unit-based compensation expense related to the Class B Profits Interests within general and administrative expenses in the consolidated statements of income/(loss) and comprehensive income/(loss) as follows:

 

 

 

Successor

 

 

 

Year Ended
December 31, 2021

 

 

April 13 to
December 31, 2020

 

Unit-based compensation expense

 

$

1,135

 

 

$

1,452