Long-term Incentive Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Compensation Related Costs [Abstract]

Summary of assumptions fair value of options granted

The Company uses estimates of forfeitures to estimate the expected term of the options granted.

	2022
Risk-free interest rate		2.7	%
Expected dividend yield		0.4	%
Expected volatility		58.5	%
Expected term	6.5 years

Summary of stock option activity

The following table summarizes stock option activity for the nine months ended September 30, 2022 and provides information for outstanding and exercisable options as of September 30, 2022:

	Number of Options		Weighted Average Exercise Price
			(per share)
Outstanding at January 1, 2022		—	$	—
Granted		338,935		24.00
Exercised		—		—
Forfeited or expired		15,912		24.00
Outstanding at September 30, 2022		323,023	$	24.00
Exercisable at September 30, 2022		—	$	—

Summary of restricted stock activity

The following table summarizes restricted stock unit activity for the nine months ended September 30, 2022 and provides information for unvested shares as of September 30, 2022:

	Number of Shares		Weighted Average Fair Value
			(per share)
Unvested at January 1, 2022		—	$	—
Granted		31,630		22.81
Vested		—		—
Forfeited		—		—
Unvested at September 30, 2022		31,630	$	22.81