Equity-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Option Activity

Stock option activity during 2022 and 2023 was as follows:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Options outstanding at January 1, 2022		1,106,069		$	42.07
Options granted		334,260			55.73
Options exercised		(285,577	)		40.66
Options cancelled		(175,475	)		46.98
Options outstanding at December 31, 2022		979,277			46.27
Options granted		226,940			80.40
Options exercised		(32,491	)		37.01
Options cancelled		(19,945	)		50.32
Options outstanding at March 31, 2023		1,153,781		$	53.17		7.71	$	24,007
Options exercisable at March 31, 2023		507,616		$	42.08		6.27	$	15,315

Schedule of Stock Options Valuation Assumptions

The following table summarizes the grant-date fair value of options and the assumptions used to develop the fair value estimates for options granted during the three months ended March 31, 2023 and year ended December 31, 2022:

	March 31, 2023			December 31, 2022
Weighted average grant-date fair value of options	$	31.80		$	20.72
Risk-free interest rate		4.2	%		2.0	%
Expected volatility		37	%		39	%
Expected life (in years)		5.0			5.0

Restricted Stock Activity

Restricted stock activity during 2022 and 2023 was as follows:

	Number of Shares			Weighted Average Grant-Date Fair Value
Unvested at January 1, 2022		926,627		$	37.84
Granted		650,396			64.65
Cancelled		(145,205	)		49.03
Vested		(386,616	)		32.64
Unvested at December 31, 2022		1,045,202		$	54.89
Granted		275,280			79.25
Cancelled		(29,456	)		59.21
Vested		(218,330	)		41.11
Unvested at March 31, 2023		1,072,696		$	63.83

Restricted Stock Unit Activity

Restricted stock unit activity during 2022 and 2023 was as follows:

	Number of Units			Weighted Average Grant-Date Fair Value
Unvested at January 1, 2022		1,504,420		$	23.20
Granted		105,311			73.96
Performance adjustment		182,543			33.05
Cancelled		—			—
Vested		(518,474	)		43.16
Unvested at December 31, 2022		1,273,800		$	20.69
Granted		—			—
Performance adjustment		355,010			11.21
Cancelled		—			—
Vested		(1,408,195	)		10.60
Unvested at March 31, 2023		220,615		$	68.11