Share-Based Compensation

3 Months Ended

Mar. 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-Based Compensation

NOTE 11. Share‑Based Compensation

During the three months ended March 31, 2022, the Company issued restricted stock awards for 514,223 shares of Common Stock, of which awards for 7,995 shares were fully vested on the grant date, awards for 345,069 shares vest over two years, awards for 3,108 shares vest over thirty-three months and 158,051 shares vest over three years.

Stock option award and restricted stock award activity during the three months ended March 31, 2022 and 2021 was as follows: 

	Shares Subject to Stock Option Awards
	Three Months Ended March 31,
	2022							2021
	Avg wtd		Avg wtd					Avg wtd		Avg wtd
	grant-date		exercise					grant-date		exercise
	fair value		price		Units			fair value		price		Units
Outstanding at beginning of period	$	3.94	$	6.71		5,315,210		$	3.91	$	6.50		6,865,101
Forfeited		6.39		14.00		(206	)		5.12		10.19		(69,989	)
Exercised		3.72		5.55		(222,057	)		4.28		7.23		(109,237	)
Outstanding at end of period	$	3.95	$	6.76		5,092,947		$	3.89	$	6.45		6,685,875
Vested	$	3.91	$	6.63		4,888,331		$	3.81	$	6.20		6,254,734
Unvested		5.05		9.92		204,616			5.11		10.07		431,141

	Restricted Stock Awards
	Three Months Ended March 31,
	2022					2021
	Avg wtd grant-					Avg wtd grant-
	date fair value		Units			date fair value		Units
Unvested at beginning of period	$	17.75		1,352,839		$	14.99		2,827,008
Granted		32.19		514,223			26.49		231,568
Vested		17.07		(480,645	)		14.61		(952,696	)
Forfeited		24.99		(438	)		15.24		(47,301	)
Unvested at end of period	$	23.34		1,385,979		$	16.45		2,058,579

Share-Based Compensation Expense

The Company recorded $3.9 million and $5.5 million of share-based compensation expense during the three months ended March 31, 2022 and 2021, respectively, in personnel compensation and benefits in the unaudited Condensed Consolidated Statements of Operations.