Share Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share Based Compensation Expense and Related Income Tax Benefit

The following table summarizes share-based compensation expense and the related income tax benefit recognized for the Company’s share-based compensation awards. Share-based compensation expenses are recorded within Selling, general and administrative in the Company’s Condensed Consolidated Statement of Operations.

	Three Months Ended June 30,				Six Months Ended June 30,
($ in millions)	2024		2023		2024		2023
Share-based compensation expense	$	5.7	$	6.5	$	12.0	$	10.6
Income tax benefit		0.1		0.2		2.3		1.3

Schedule of Outstanding Performance Stock Units Activity, Restricted Stock Awards, Restricted Stock Units and Performance-based Stock Options

Activity for RSAs for the six months ended June 30, 2024 was as follows:

	Class A Common Stock		Weighted Average Grant Date Fair Value
Unvested at December 31, 2023		3,550,365	$	9.26
Granted		1,858,554		8.00
Forfeited (1)		436,239		9.92
Vested		703,836		10.78
Unvested at June 30, 2024		4,268,844	$	8.39

(1)The forfeited shares include shares forfeited as a result of employee terminations and shares withheld to satisfy employees’ tax withholding and payment obligations in connection with the vesting of restricted stock awards under the Incentive Plan during the six months ended June 30, 2024; further, these forfeited shares are added back to the amount of shares available for grant under the Incentive Plan.

Activity for RSUs for the six months ended June 30, 2024 was as follows:

	Class A Common Stock		Weighted Average Grant Date Fair Value
Unvested at December 31, 2023		171,384	$	7.41
Granted		130,923		9.70
Forfeited		—		—
Vested		171,384		7.41
Unvested at June 30, 2024		130,923	$	9.70

Activity for PSUs for the six months ended June 30, 2024 was as follows:

	Class A Common Stock (1)		Weighted Average Grant Date Fair Value
Unvested at December 31, 2023		1,482,791	$	10.88
Granted		762,583		13.03
Forfeited		—		—
Vested		—		—
Unvested at June 30, 2024		2,245,374	$	11.61

(1)Represent shares to be paid out at 100% target level.

Activity for PSOs for the six months ended June 30, 2024 was as follows:

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at December 31, 2023		1,148,822		6.13		7.0	$	2,768,661
Granted		—		—
Forfeited		—		—
Exercised		—		—
Outstanding at June 30, 2024		1,148,822	$	6.13		7.0	$	5,089,281
Options vested and exercisable at June 30, 2024		353,354	$	6.13		7.0	$	1,565,358

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

Fair value was estimated on the date of grant using Monte Carlo simulation with the following weighted average assumptions:

	Six Months Ended June 30, 2023
Risk-free interest rate		3.42	%
Expected volatility		52.82	%
Dividend yield		0	%
Expected term (in years)		4.5