Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Stock Option Activity

A summary of the stock option activity is as follows:

(in thousands, except per share amounts and term information)	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at December 31, 2022	17,265	$	7.72	7.3 years	$	5,321
Granted	10,445	5.69
Exercised	(1,828)	3.44
Expired / Cancelled / Forfeited	(2,382)	8.77
Outstanding at December 31, 2023	23,500	$	7.04	7.9 years	$	20,689
Exercisable at December 31, 2023	11,309	$	7.16	6.6 years	$	11,059

Assumptions Used in Black-Scholes Model to Determine Fair Value for Stock Option Awards Granted

The fair value of option awards issued with service or performance vesting conditions are estimated on the grant date using the Black-Scholes option pricing model. The following table summarizes the assumptions used:

	Year Ended December 31,
	2023	2022	2021
Risk-free interest rate	3.4% - 4.4%	1.7% - 3.8%	0.9% - 1.3%
Expected term	5.2 - 6.1 years	5.7 - 6.1 years	5.7 - 6.1 years
Expected stock price volatility	70% - 77.5%	60% - 77.5%	57.5% - 60%
Dividend yield	—	—	—

Summary of Restricted Stock Activity

A summary of the Restricted Stock Awards ("RSAs") and Restricted Stock Unit activity is as follows:

(in thousands, except per share amounts)	Restricted Stock Awards	Restricted Stock Units for Class A Common Stock	Restricted Stock Units for Class B Common Stock	Weighted Average Grant Date Fair Value
Nonvested restricted stock awards or restricted stock units at December 31, 2022	469	18,461	3,592	$	13.69
Granted	—	18,288	—	5.53
Vested	(469)	(7,264)	(2,053)	14.05
Forfeited	—	(3,893)	—	7.18
Nonvested restricted stock units at December 31, 2023	—	25,592	1,539	$	8.99