XML 71 R60.htm IDEA: XBRL DOCUMENT v3.22.2
Share-Based Compensation - Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
1 Months Ended 3 Months Ended 6 Months Ended
Jun. 01, 2022
Jun. 30, 2022
Jul. 31, 2021
May 31, 2021
Jun. 30, 2022
Jun. 30, 2022
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Total shares of common stock reserved   59,065,916     59,065,916 59,065,916 59,065,916   107,435,982
Weighted-average grant date fair value (in dollars per share)             $ 0 $ 2.96  
Grant date fair value of stock options vested in period             $ 4,778 $ 9,406  
Share-based compensation, unvested stock options   $ 16,158     $ 16,158 $ 16,158 $ 16,158    
Fair value of option (in dollars per share)   $ 2.29     $ 2.29 $ 2.29 $ 2.29   $ 2.19
Cash proceeds received   $ 1,017     $ 1,017 $ 1,017 $ 1,017   $ 785
Measurement period, number of consecutive trading days 20 days                
Trading day period 30 days                
Lock-up period 6 months                
Share price (in dollars per share)   $ 6.11     $ 6.11 $ 6.11 $ 6.11    
Expected dividend yield             0.00%    
Expected volatility             40.00%    
Risk-free interest rate             70.00%    
Stock price meets or exceeds $12.50                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Stock price trigger (in dollars per share) $ 12.50                
Vesting tranches acceleration period 6 months                
Stock price meets or exceeds $15.00                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Stock price trigger (in dollars per share) $ 15.00                
Vesting tranches acceleration period 6 months                
2018 Plan                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Total shares of common stock reserved   0     0 0 0    
2022 Stock Plan                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Total shares of common stock reserved   12,899,504     12,899,504 12,899,504 12,899,504    
Automatic increase period   10 years     10 years 10 years 10 years    
Restricted Stock                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Share-based compensation expense             $ 371 445  
Share-based compensation, unvested stock options   $ 0     $ 0 $ 0 0    
Aggregate exercise price   $ 34     $ 34 $ 34 $ 34   $ 0
Shares outstanding (in shares)   130,123     130,123 130,123 130,123   0
Employee Stock | 2022 ESPP                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Total shares of common stock reserved   4,072,000     4,072,000 4,072,000 4,072,000    
Number of shares issued under plan (in shares)   4,072,000     4,072,000 4,072,000 4,072,000    
Percentage of outstanding stock             1.00%    
Common Stock | 2022 Stock Plan                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Percentage of outstanding stock   3.00%     3.00% 3.00% 3.00%    
Performance and Market Condition-Based Option                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Expiration period             10 years    
Share-based compensation expense         $ 4,564   $ 5,139    
Share-based compensation, unvested stock options   $ 1,957     $ 1,957 $ 1,957 $ 1,957    
Shares granted in period (in shares)       3,122,931          
Shares granted in period, (in dollars per share)       $ 3.9760          
Total proceeds threshold       $ 250          
Trading day period       20 days          
Lock up period             180 days    
Fair value of option (in dollars per share)   $ 2.27     $ 2.27 $ 2.27 $ 2.27    
Performance and Market Condition-Based Option | Share-based Payment Arrangement, Tranche One                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Shares granted in period (in shares)       1,040,976          
Aggregate exit proceeds fair market value (in dollars per share)       $ 9.94          
Interest thresholds percentage       20.00%          
Performance and Market Condition-Based Option | Share-based Payment Arrangement, Tranche Two                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Shares granted in period (in shares)       1,040,976          
Aggregate exit proceeds fair market value (in dollars per share)       $ 14.91          
Interest thresholds percentage       30.00%          
Performance and Market Condition-Based Option | Share-based Payment Arrangement, Tranche Three                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Shares granted in period (in shares)       1,040,979          
Aggregate exit proceeds fair market value (in dollars per share)       $ 19.88          
Interest thresholds percentage       35.00%          
Outstanding options                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Vesting period             4 years    
Expiration period             10 years    
Share-based compensation expense             $ 2,359 $ 10,143  
Period for recognition             2 years 4 months 24 days    
Outstanding options | Minimum                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Vested stock expiration period             3 months    
Outstanding options | Maximum                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Vested stock expiration period             5 years    
Directors Options                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Share-based compensation expense             $ 1,233    
Shares granted in period (in shares)     499,669            
Shares granted in period, (in dollars per share)     $ 5.43            
Restricted Stock Units (RSUs)                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Share-based compensation expense           $ 2,526 $ 2,526    
Period for recognition             3 years 1 month 6 days    
Shares outstanding (in shares)   3,619,705     3,619,705 3,619,705 3,619,705    
Vested (in shares)             0    
RSUs granted (in shares) 3,745,873                
RSUs cancelled due to termination (in shares)   (126,168)              
Future share-based compensation expense   $ 70,809     $ 70,809 $ 70,809 $ 70,809    
Restricted Stock Units (RSUs) | Minimum                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Service period (in years)             3 years    
Restricted Stock Units (RSUs) | Maximum                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Service period (in years)             4 years    
Restricted Stock Units (RSUs) | 2022 Stock Plan                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Shares outstanding (in shares)   5,478,842     5,478,842 5,478,842 5,478,842   0
Executive Retention RSUs                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Share-based compensation expense           $ 5,733 $ 5,733    
Period for recognition             9 months 18 days    
Vested (in shares)             0    
RSUs granted (in shares) 1,859,137                
Future share-based compensation expense   $ 31,933     $ 31,933 $ 31,933 $ 31,933    
Share price (in dollars per share) $ 20.26                
Cost of equity   9.00%              
Expected dividend yield   0.00%              
Expected volatility   35.70%              
Risk-free interest rate   2.80%              
Executive Retention RSUs | Share-based Payment Arrangement, Tranche One                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Service period (in years)             4 months 24 days    
Executive Retention RSUs | Share-based Payment Arrangement, Tranche Two                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Service period (in years)             4 months 24 days    
Executive Retention RSUs | Share-based Payment Arrangement, Tranche Three                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Service period (in years)             1 year 9 months 18 days