v3.22.2.2
Stock-Based Compensation
 9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
The following table summarizes the stock option and restricted stock unit ("RSU") activity for the nine months ended September 30, 2022:
OptionsRSUs
Number of
options		Weighted -
average
exercise price		Number of
RSUs		Weighted -
average
grant date fair value
Outstanding at January 1, 2022
9,685,321 $10.53 4,179,475 $29.01 
Granted
398,778 $30.62 1,052,617 $26.25 
Exercised or released(529,622)$4.19 (833,234)$27.27 
Forfeited, cancelled or expired(1,513,490)$6.61 (273,750)$32.41 
Outstanding at September 30, 2022
8,040,987 $12.68 4,125,108 $28.43 
The weighted-average grant-date fair value of options granted during the nine months ended September 30, 2022 was $11.10. There were 3,373,417 performance stock units ("PSUs") outstanding at January 1, 2022 and September 30, 2022.
The following table summarizes the components of stock-based compensation expense recognized for the periods presented:
Three months ended September 30,Nine months ended September 30,
(in thousands)2022202120222021
Cost of services$1,149 $451 $2,689 $502 
Selling, general, and administrative expense15,077 18,792 52,075 152,008 
Total$16,226 $19,243 $54,764 $152,510 
During the nine months ended September 30, 2021, the change in control condition of our phantom shares became probable upon the IPO. As a result, the Company recognized expense in the amount of the expected cash settlement totaling $127.5 million recorded in selling, general, and administrative expense on the condensed consolidated statements of operations for the nine months ended September 30, 2021.As of September 30, 2022, there was $13.8 million, $70.9 million and $6.2 million of unrecognized compensation expense related to the Company’s unvested stock options, RSUs and PSUs, respectively, that is expected to be recognized over a weighted-average period of 1.5 years, 1.7 years and 2.0 years