Equity-Based Compensation Plans

6 Months Ended

Jun. 30, 2023

Equity-Based Compensation Plans

Equity-Based Compensation Plans

17. Equity-Based Compensation Plans

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

	Three Months Ended June 30,				Six Months Ended June 30,
($ in thousands)	2023		2022		2023		2022
Equity-based compensation expense:
Costs applicable to revenue	$	222	$	222	$	354	$	363
Selling, general, and administrative		6,270		8,746		12,497		20,279
Total equity-based compensation expense	$	6,492	$	8,968	$	12,850	$	20,642

The following table summarizes stock option activity for the six months ended June 30, 2023:

	Stock Options
	(in thousands)
Outstanding at December 31, 2022		238
Exercised		(10)
Forfeited		(11)
Outstanding and exercisable at June 30, 2023		217

The following table summarizes restricted stock unit activity for the six months ended June 30, 2023:

	Restricted
	Stock Units
	(in thousands)
Outstanding at December 31, 2022		2,549
Granted		303
Vested		(99)
Forfeited		(188)
Outstanding at June 30, 2023		2,565

During the six months ended June 30, 2023, the Company granted 271,922 RSUs to employees with an aggregate grant date fair value of $4.9 million and weighted-average grant date fair value of $18.14 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, five members of the Company’s Board of Directors each received grants of 6,240 RSUs on the date of the Company’s annual stockholders’ meeting in May 2023 with a grant date fair value of $24.04 per RSU, which will be recognized, net of forfeitures, over a vesting period of one year.