Equity-Based Compensation Plans

9 Months Ended

Sep. 30, 2022

Equity-Based Compensation Plans

Equity-Based Compensation Plans

16. Equity-Based Compensation Plans

The following table summarizes the equity-based compensation that has been included in the following line items within the consolidated statements of operations during:

	Three Months Ended September 30,				Nine Months Ended September 30,
($ in thousands)	2022		2021		2022		2021
Equity-based compensation expense:
Costs applicable to revenue	$	196	$	252	$	559	$	575
Selling, general, and administrative		6,596		6,661		26,875		18,494
Total equity-based compensation expense	$	6,792	$	6,913	$	27,434	$	19,069

The following table summarizes stock option activity for the nine months ended September 30, 2022:

	Stock Options
	(in thousands)
Outstanding at December 31, 2021		272
Exercised		(14)
Forfeited		(7)
Outstanding and exercisable at September 30, 2022		251

The following table summarizes restricted stock unit activity for the nine months ended September 30, 2022:

	Restricted
	Stock Units
	(in thousands)
Outstanding at December 31, 2021		4,177
Granted		195
Vested		(741)
Forfeited		(475)
Outstanding at September 30, 2022		3,156

During the nine months ended September 30, 2022, the Company granted 162,333 RSUs to employees with an aggregate grant date fair value of $3.6 million and weighted-average grant date fair value of $22.43 per RSU, which will be recognized, net of forfeitures, over a vesting period of five years. In accordance with the Company’s non-employee director compensation policy, six members of the Company’s board of

directors each received grants of 5,478 RSUs on the date of the Company’s annual shareholders’ meeting in May 2022 with a grant date fair value of $27.38 per RSU, which will be recognized, net of forfeitures, over a vesting period of one year.