Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Summary of Stock Option Activity

A summary of stock option activity for the period ended June 30, 2023 is as follows:

						Weighted Average
						Contractual Life		Aggregate
	Number of			Weighted Average		Remaining		Intrinsic Value
	Shares			Exercise Price		(in years)		(whole dollars)
Outstanding as of December 31, 2022		10,612,231		$	7.25		8.09	$	39,004,141
Granted		3,027,974			10.07
Exercised		(657,902	)		1.97
Settled		—			—
Expired/Forfeited		(832,960	)		10.33
Outstanding as of June 30, 2023		12,149,343		$	8.03		8.15	$	41,642,102
Exercisable as of June 30, 2023		906,865		$	2.83		5.15	$	7,683,858

Summary of Weighted Average Assumptions Used In Calculating Fair Value of Stock Options Granted

The weighted average assumptions used in calculating the fair value of stock options granted during the six months ended June 30, 2023 and June 30, 2022 were as follows:

	For the Six Months Ended June 30,
	2023			2022
Expected life	7.5 (yrs)			7.5 (yrs)
Expected volatility		38.60	%		35.40	%
Risk-free interest rate		4.07	%		1.98	%
Expected dividend yield		1.20	%		0.00	%

Summary of Restricted Stock Activity

The Company has granted restricted stock awards ("RSAs") to certain employees. Holders of RSAs have no voting rights and accrue dividends until vesting with payment being made once they vest. All of the shares currently vest one year from the grant date.

	Number of		Weighted-Average Grant
	RSAs		Date Fair Value Per RSA
Outstanding as of December 31, 2022		33,346	$	12.37
Granted		—		—
Vested		—		—
Forfeited		—		—
Outstanding as of June 30, 2023		33,346	$	12.37

Summary of Restricted Stock Units

The below table does not include Bonaccord or Hark Units that were issued outside of the Plan, that have not vested and are recorded as a liability.

	Number of			Weighted-Average Grant
	RSUs			Date Fair Value Per RSU
Outstanding as of December 31, 2022		508,135		$	11.34
Granted		1,273,209			10.01
Vested		(875,001	)		11.43
Forfeited		—			—
Outstanding as of June 30, 2023		906,343		$	10.01