Equity Agreements and Incentive Equity Plans (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Summary of Restricted Stock Awards

	Restricted Stock Awards
	B-1 Incentive Units			B-2 Incentive Units
	Number of Units (in 000’s)	Weighted- Average Grant-Date Fair Value		Number of Units (in 000’s)	Weighted- Average Grant-Date Fair Value
Outstanding at December 25, 2020	—	$	—	—	$	—
Granted	833	18.00		807	18.00
Vested	189	18.00		—	—
Forfeited	10	18.00		—	—
Outstanding at December 31, 2021	633	$	18.00	807	$	18.00

Fair Value of Leverage Replacement Options

	Fair value at December 31, 2021	Valuation Technique	Unobservable Input	Volatility
Contingent Value Rights	$8,900	Monte Carlo	Volatility	45 -50%

The fair values of the stock options were derived using the following key assumptions:

	Time-based Options		Market-based Options
Expected term	3.1-7.0 years		2.5 years
Risk-free rate of return	0.4 -1.0%		0.6	%
Expected dividend yield	—	%	—	%
Expected volatility	45	%	45	%

Summary of Incentive Unit Activity

The summary of the Company’s option activity as of December 31, 2021 is as follows:

	Time-based Options					Market-based Options
	Number of Units (in 000’s)	Weighted- Average Grant-Date Fair Value		Aggregate Intrinsic Value (a)		Number of Units (in 000’s)	Weighted- Average Grant-Date Fair Value		Aggregate Intrinsic Value (a)
Outstanding at December 25, 2020	—	$	—	$	—	—	$	—	$	—
Granted	4,443	6.47		—		1,155	5.66		—
Exercised	—	—		—		—	—		—
Forfeited	(50)	6.95		—		—	—		—
Outstanding at December 31, 2021	4,393	$	6.49	$	13,532	1,155	$	5.66	$	3,558
Options exercisable at December 31, 2021	2,307	$	6.00	$	7,105	—	$	—	$	—

(a) The intrinsic value represents the amount by which the fair value of the Company’s stock exceeds the option exercise price as of December 31, 2021

Summary of Stock Compensation Expense

Compensation expense for the year ended December 31, 2021 and unrecognized stock compensation expense and weighted average remaining expense period as of December 31, 2021 consisted of:

	Year Ended December 31, 2021		As of December 31, 2021
	Compensation Expense		Unrecognized compensation expense		Weighted-Average Remaining Contractual Term (Years)
2017 Plan
Incentive units	$	2,605	$	—	—
2021 Plan
Restricted stock awards	1,975		8,945		2.00
Time-based options	14,152		14,453		2.59
Market-based options	1,113		5,426		2.09
Restricted stock units	1,677		5,435		2.06
Total	$	21,522	$	34,259	2.37