XML 138 R36.htm IDEA: XBRL DOCUMENT v3.22.2
Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Schedule of Stock by Class
The Company had reserved shares of Class A common stock for issuance in connection with the following:
June 30,December 31,
20222021
(in thousands)
Common stock warrants (exercisable for class A common stock) treated as equity1,770 1,770 
Stock options outstanding4,690 5,022 
Restricted stock units outstanding6,848 10,959 
Public Warrants (exercisable for class A common stock) treated as liability15,813 15,813 
Private Placement Warrants (exercisable for class A common stock) treated as liability8,325 8,325 
Shares available for future grant141,628 140,951 
Total class A common stock reserved179,074 182,840 
The Sponsor Earn-Out Shares have the following provisions:
Terms
Contractual Life
Seven years from the closing date of the Merger
Release Provision
Exactly half of the Sponsor Earn-Out Shares have a release provision ("Release") at such time that the volume weighted average price ("VWAP") is equal to, or greater than, $15.00 per share for ten of any twenty consecutive trading days. The remaining Sponsor Shares Release at such time that the VWAP is equal to, or greater than, $17.50 per share for the of any twenty consecutive trading days. There is an additional provision for acceleration of the Release upon a defined change in control.
Forfeiture Provision
If, within the seven year period, the Sponsor Earn-Out Shares have not met the Release provisions, the Sponsor Earn-Out Shares will automatically forfeit and be cancelled.