Stockholders’ Equity (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Equity [Abstract] |
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| Schedule of Stock Option, Activity |
The following table summarizes stock option activity under the PH Parent Option Plan and the Plan: | | | | | | | | | | | | | | | | | | | | | | | | | Number of Shares | | Weighted-
Average
Exercise Price | | Weighted-
Average
Remaining
Contractual
Life | | Aggregate Intrinsic
Value
(in thousands) | | Balance at December 31, 2024 | 8,526,910 | | | $ | 10.03 | | | 7.17 | | $ | 93,074 | | | Granted | — | | | — | | | | | | | Exercised | (550,200) | | | 7.73 | | | | | | | Forfeited | (9,311) | | | 19.64 | | | | | | | Balance at June 30, 2025 | 7,967,399 | | | $ | 10.18 | | | 6.75 | | $ | 102,955 | | | Exercisable June 30, 2025 | 7,930,200 | | | $ | 10.10 | | | 6.76 | | $ | 102,954 | |
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| Schedule of Restricted Stock Unit, Activity |
The following table summarizes the RSU activity under the Plan: | | | | | | | | | | | | | Number of Shares | | Grant Date Fair Value | | Unvested and outstanding at December 31, 2024 | 4,142,275 | | | $ | 23.73 | | | Granted | 2,153,039 | | | 24.93 | | | Vested | (1,816,707) | | | 23.98 | | | Forfeited | (84,970) | | | 24.23 | | | Unvested and outstanding at June 30, 2025 | 4,393,637 | | | $ | 24.21 | |
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| Share-Based Payment Arrangement, Performance Shares, Activity |
The following table summarizes the PSU activity under the Plan: | | | | | | | | | | | | | Number of Shares | | Grant Date Fair Value | | Unvested and outstanding at December 31, 2024 | 1,637,681 | | | $ | 27.02 | | Granted(1) | 826,270 | | | 25.21 | | | Vested | — | | | — | | | Forfeited | (4,215) | | | 24.96 | | | Unvested and outstanding at June 30, 2025 | 2,459,736 | | | $ | 26.42 | | (1) During the six months ended June 30, 2025, Privia awarded RSUs in the form of PSUs to certain executive officers and employees which vest after three years, subject to continued employment of the recipients and the achievement of certain performance metric targets. The Company has identified certain performance metrics associated with these awards and certain targets will be fully established at a future date. The Company has determined that the service inception date precedes the grant date for these awards as (a) the awards were authorized prior to establishing an accounting grant date, (b) the recipients began providing services prior to the grant date, and (c) there are performance conditions that, if not met by the accounting grant date, will result in the forfeiture of the awards. As the service inception date precedes the accounting grant date, the Company recognizes stock-based compensation expense over the requisite service period based on the fair value at each reporting date. |
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| Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award |
Stock-based compensation expense was classified in the condensed consolidated statements of operations as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended June 30, | | For the Six Months Ended June 30, | | (Dollars in Thousands) | | 2025 | | 2024 | | 2025 | | 2024 | | Cost of platform | | $ | 7,223 | | | $ | 4,710 | | | $ | 13,194 | | | $ | 8,597 | | | Sales and marketing | | 1,488 | | | 1,043 | | | 2,690 | | | 1,812 | | | General and administrative | | 10,138 | | | 8,638 | | | 20,755 | | | 15,886 | | | Total stock-based compensation | | $ | 18,849 | | | $ | 14,391 | | | $ | 36,639 | | | $ | 26,295 | |
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