Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Changes in Long Term Incentive Plan Units

A summary of the changes in the LTIP Units for the three months ended March 31, 2022 is presented below:

	Series A LTIP Units		Series B LTIP Units		Series C LTIP Units
Outstanding at December 31, 2021		5,340,000		1,386,033		—
Granted		—		—		1,105,920
Exercised		—		—		—
Outstanding at March 31, 2022		5,340,000		1,386,033		1,105,920
Vested at March 31, 2022		1,651,007		856,693		—

Weighted Average Grant Date Fair Values for Long Term Incentive Plan Unit

The weighted-average grant date fair values for each Market Condition Series C LTIP Unit and the assumptions used in the determinations thereof were as follows:

	Market Condition Series C LTIP Units
Weighted-average grant date fair value	$	7.49
Expected term	3.0 years
Expected volatility		33.0	%
Risk-free interest rate		1.8	%

Summary of Changes in Nonvested Restricted Stock Awards

A summary of the changes in the Company’s nonvested restricted stock awards for the three months ended March 31, 2022 is presented below:

	Shares			Weighted- Average Grant- Date Fair Value
Nonvested at December 31, 2021		95,292		$	10.93
Granted		560,594		$	12.51
Vested		(62,692	)	$	(12.54	)
Forfeited		—			—
Nonvested at March 31, 2022		593,194		$	12.25

Weighted Average Grant Date Fair Values for Market Condition Performance

The weighted-average grant date fair values for each Market Condition Performance RSA and the assumptions used in the determinations thereof were as follows:

	Market Condition Restricted Stock Awards
Weighted-average grant date fair value	$	7.49
Expected term	3.0 years
Expected volatility		33.0	%
Risk-free interest rate		1.8	%

Schedule of Changes in Number of Common Shares Underlying Options

The following table summarizes the changes in the number of common shares underlying options for the three months ended March 31, 2022:

	Shares			Weighted- Average Exercise Price
Outstanding at December 31, 2021		3,989,100		$	10.32
Granted		330,000		$	13.32
Exercised		(10,985	)	$	8.14
Forfeited		(17,500	)	$	15.36
Outstanding at March 31, 2022		4,290,615		$	10.54
Exercisable at March 31, 2022		1,190,815		$	8.57

Weighted Average Grant Date Fair Values for Employee Stock Options Granted

For stock options granted during the three months ended March 31, 2022, the weighted-average grant date fair values for employee stock options and the weighted-average assumptions used in the determinations thereof were as follows: 

	Three months ended March 31, 2022
Weighted-average grant date fair value	$	4.14
Expected term	6.5 years
Expected volatility		26.4	%
Risk-free interest rate		1.9	%