Stock-Based Compensation

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

The following is a summary of RSU activity for the three months ended March 31, 2024 and 2023:











	For the three months ended March 31,
	2024			2023
	Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value
Unvested - beginning of period	7,867,321	$	5.89	4,005,801	$	5.30
Granted	1,198,345	6.80		585,796	4.34
Vested	(1,426,590)	6.33		(804,701)	7.75
Forfeited	(138,135)	5.61		(112,466)	4.45
Unvested - end of period	7,500,941	$	5.96	3,674,430	$	4.64

Stock-based compensation expense recognized for the three months ended March 31, 2024 and 2023 was $5.9 million and $2.5 million, respectively. As of March 31, 2024 and 2023, there was $39.6 million and $14.5 million of unrecognized compensation expense, respectively, related to unvested awards which is expected to be recognized over a weighted average period of 2.8 years and 2.2 years, respectively. During the three months ended March 31, 2024, the Company granted 1.2 million RSUs with a weighted average grant date fair value of $6.80, and vesting terms ranging from immediate to four years from the grant date.