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Share-based Compensation (Tables)
 9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Option, Activity
The following table summarizes information about the PH Parent Option Plan transactions:
Options OutstandingWeighted- Average
Exercise
Price		Weighted- Average
Grant-Date
Fair Value		Weighted- Average Remaining Contractual
Life
Balance at December 31, 2017
3,907,067 $2.34 $0.55 8.20
Granted in 201814,202,635 2.00 0.32 
Exercised in 2018(53,079)2.00 0.32 
Cancelled in 2018(2,087,359)2.35 0.49 
Forfeited in 2018(525,152)2.36 0.63 
Balance at December 31, 2018
15,444,112 $2.03 $0.34 9.45
Granted in 20193,202,435 2.00 0.36 
Exercised in 2019— — — 
Cancelled in 2019(227,600)2.36 0.52 
Forfeited in 2019(771,114)2.12 0.42 
Balance at December 31, 2019
17,647,833 $2.01 $0.34 8.71
Granted in 2020830,194 2.00 0.37 
Exercised in 2020(54,268)2.00 0.32 
Cancelled in 2020— — — 
Forfeited in 2020(122,800)2.22 0.46 
Balance at December 31, 2020
18,300,959 $2.01 $0.34 7.82
Exercisable options
3,276,976 $2.00 $0.32 7.76
The following table summarizes stock option activity under the Prior Plan and Plan:
Number of SharesWeighted-
Average
 Exercise Price		Weighted-
Average
Grant-Date
 Fair Value		Weighted-
Average
Remaining
Contractual
Life
Balance at December 31, 202018,300,959 2.01 0.34 7.82
Granted3,730,717 23.16 9.58 
Exercised(328,323)2.11 0.48 
Forfeited(172,547)9.73 3.75 
Balance at September 30, 202121,530,806 $5.61 1.91 7.51
Exercisable at September 30, 202112,272,394 $2.01 0.34 7.01
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
We estimate the fair value of the options granted using the Monte Carlo option pricing model with the following assumptions presented on a weighted average basis:
December 31,
202020192018
Expected term in years555
Expected stock price volatility51.2 %39.1 %43.8 %
Risk-free interest rate0.36 %1.69 %2.53 %
Expected dividend yield0.0 %0.0 %0.0 %
Estimated fair value per option granted$0.66 $0.36 $0.32 
Share-based Payment Arrangement, Restricted Stock Unit, Activity
The following table summarizes the RSU activity under the 2021 Plan:
Number of SharesGrant Date Fair Value
Unvested and outstanding at December 31, 2020— — 
Granted1,199,315 $23.19 
Vested(195,652)$23.00 
Forfeited(14,011)$23.00 
Unvested and outstanding at September 30, 2021989,652 $23.23