Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Share-Based Payment Arrangement, Activity

The maximum number of shares of the Company's common stock reserved for issuance over the term of the Plans, shares outstanding under the Plans, and shares remaining under the Plans at June 30, 2023 and December 31, 2022, respectively, were as follows:

June 30, 2023	Shares Authorized Under Plans	Shares Outstanding Under Plans	Shares Remaining Under Plans
2014 Plan	54,402,264	35,180,733	N/A
2020 Plan	58,521,709	42,534,606	9,776,061
2020 MIP	33,426,983	26,741,587	—
Inducement Plan	11,000,000	6,930,233	2,131,783

December 31, 2022	Shares Authorized Under Plans	Shares Outstanding Under Plans	Shares Remaining Under Plans
2014 Plan	54,402,264	36,378,558	N/A
2020 Plan	31,884,272	29,805,319	242,473
2020 MIP	33,426,983	30,084,285	—
Inducement Plan	11,000,000	11,000,000	—

Schedule of Summary of Stock-Based Compensation Cost

Compensation cost presented within Salaries and benefits within the accompanying Condensed Consolidated Statements of Operations and Comprehensive Loss were as follows:

Three Months Ended June 30,	2023		2022
	(in thousands)
Stock options	$	748	$	1,175
RSUs	20,936		18,368
PRSUs	14,398		22,197
ESPP	26		187
Total compensation cost recognized for stock-based compensation plans	$	36,108	$	41,927

Six Months Ended June 30,	2023		2022
	(in thousands)
Stock options	$	2,089	$	2,479
RSUs	41,936		35,283
PRSUs	30,593		44,558
ESPP	107		247
Total compensation cost recognized for stock-based compensation plans	$	74,725	$	82,567

Schedule of Stock Option Activity

A summary of option activity under the 2020 Plan during the six months ended June 30, 2023, was as follows:

	Number of stock options	Weighted-average exercise price
Outstanding, January 1, 2023	1,364,822	$	8.88
Granted during 2023	—	—
Exercised	—	—
Forfeited	(293,698)	8.88
Outstanding, June 30, 2023	1,071,124	$	8.88

A summary of stock option activity under the 2014 Plan during the six months ended June 30, 2023, was as follows:

	Number of stock options	Weighted-average exercise price
Outstanding, January 1, 2023	25,631,686	$	2.35
Granted during 2023	—	—
Exercised	(2,481)	1.36
Forfeited	(1,195,342)	2.30
Outstanding, June 30, 2023	24,433,863	$	2.71

Schedule of Summary of Total RSU Activity

A summary of total RSU activity is presented below:

	Number of RSUs	Weighted-average grant date fair value per share
Outstanding, January 1, 2022	21,294,841	$	14.60
Granted during 2022	15,774,310	2.55
Released	(4,072,392)	14.97
Forfeited	(721,131)	5.86
Outstanding, June 30, 2022	32,275,628	$	8.86
Outstanding, January 1, 2023	49,617,199	$	6.48
Granted during 2023	17,937,698	0.98
Released	(8,335,410)	8.48
Forfeited	(4,433,218)	3.15
Outstanding, June 30, 2023	54,786,269	$	4.64

Schedule of Weighted Average Grant Date Fair Value of Performance Restricted Stock Units

The grant date fair value of Market PRSUs was determined using a Monte Carlo simulation model that incorporated multiple valuation assumptions, including the probability of achieving the specified market condition and the following assumptions:

Six months ended June 30, 2023
Expected volatility (1)	40.7	%
Risk-free interest rate (2)	0.5
Dividend yield (3)	—

(1) Expected volatility is based on a blend of peer group company historical data adjusted for the Company's leverage.

(2) Risk-free interest rate based on U.S. Treasury yields with a term equal to the remaining Performance Period at the grant date.

(3) Dividend yield was assumed to be zero as the Company does not anticipate paying dividends.

Schedule of Total Performance Restricted Stock Units

A summary of PRSU activity is presented below:

	Number of PRSUs	Weighted-average grant date fair value per share
Non-vested, January 1, 2022	27,818,524	$	9.58
Granted during 2022	—	—
Vested	(13,264)	8.90
Forfeited	(265,306)	9.11
Non-vested at June 30, 2022	27,539,954	$	9.58
Non-vested, January 1, 2023	29,945,235	$	8.92
Granted during 2023	1,194,689	0.94
Vested	(13,265)	8.90
Forfeited	(30,754)	8.96
Non-vested at June 30, 2023	31,095,905	$	8.62

Schedule of Assumptions Used in ESPP Fair Value Determination

The assumptions that the Company used in the Black-Scholes option-pricing model to determine the fair value of the purchase rights under the ESPP for the three months ended June 30, 2023, are as follows:

Six months ended June 30, 2023
Weighted-average risk-free interest rate	5.4	%
Expected term (in years)	0.50
Expected volatility	69.8	%