Equity-Based Compensation Plans

3 Months Ended

Mar. 31, 2024

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 March 31,
($ in thousands)	2024		2023
Equity-based compensation expense:
Costs applicable to revenue	$	92	$	132
Selling, general, and administrative		5,105		6,226
Total equity-based compensation expense	$	5,197	$	6,358

The following table summarizes stock option activity for the three months ended March 31, 2024:

	Stock Options
	(in thousands)
Outstanding at December 31, 2023		193
Exercised		(2)
Forfeited		(4)
Outstanding and exercisable at March 31, 2024		187

The following table summarizes restricted stock unit (“RSU”) activity for the three months ended March 31, 2024:

	Restricted
	Stock Units
	(in thousands)
Outstanding at December 31, 2023		1,875
Granted		289
Vested		(74)
Forfeited		(23)
Outstanding at March 31, 2024		2,067

During the three months ended March 31, 2024, the Company granted 289,250 RSUs to employees and a newly-appointed nonemployee director with an aggregate grant date fair value of $7.4 million and weighted-average grant date fair value of $25.59 per RSU, which will be recognized, net of forfeitures, over a vesting period of five years for employees and one year for the nonemployee director.