EQUITY-BASED COMPENSATION EXPENSE (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

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


	Options Outstanding
(in thousands, except per share amounts)	Number of Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (years)	Aggregate Intrinsic Value(1)
Outstanding, December 31, 2023	4,010	$	1.80	3.9	$	353



Forfeited	(33)	1.58
Expired	(125)	4.10
Outstanding, March 31, 2024	3,852	$	1.73	3.8	$	1,037
Exercisable at March 31, 2024	2,141	$	1.86	3.7	$	603

(1)Based on the amount by which the closing market price of our Class A common stock exceeds the exercise price on each date indicated.

Schedule of Unvested Restricted Stock Units Roll Forward

The following table summarizes the RSU activity during the three months ended March 31, 2024:


	Number of Shares (in thousands)	Weighted-Average Grant Date Fair Value per Share



Unvested, December 31, 2023	12,021	$	2.15
Granted(1)	9,863	1.29
Vested(1)(2)	(7,053)	2.78
Forfeited	(115)	1.67
Unvested, March 31, 2024	14,716	$	1.28

(1)Includes RSUs issued for the 2023 annual performance bonus that vested at issuance with a value of $3,304, of which $2,838 is included in “Accounts payable and accrued liabilities” on the unaudited Condensed Consolidated Balance Sheet at December 31, 2023, with the remainder reflected as a change in estimate that is included within “General and administrative expenses” on the unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2024.

(2)Includes 2,433 vested shares that were withheld to cover tax obligations and were subsequently cancelled.

Schedule Of Employment And Achievement Target Stock Price


Tranche	Company Stock Price Target (per share)(1)	Number of Eligible RSUs (in thousands)
1	$2.00	1,000
2	$3.00	1,000
3	$4.00	1,000
4	$5.00	1,000

(1)The market price of the Company’s Class A common stock must exceed the target price per share for 30 days during a 60-day period.

Schedule of Share-based Compensation

The following table details the equity-based compensation expense by type of award for the periods presented:


	Three Months Ended March 31,
(in thousands)	2024		2023
RSUs	$	9,725	$	4,328
Stock Options	991		177
Restricted Common Shares	—		50
Total equity-based compensation expense	$	10,716	$	4,555