v3.25.2
Share-Based and Unit-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of RSU Activity
The following tables summarize RSU and PSU activity under the 2021 Incentive Plan for the six months ended June 30, 2025 and June 30, 2024 (in thousands, except per unit data):
RSUs and PSUsNumber of RSUs and PSUsWeighted Average Remaining Contractual Term (years)Weighted Average Grant Date Fair ValueAggregate Intrinsic Value
Outstanding as of December 31, 2023521 1.38$69.75 
Granted1,028 $12.05 $12,393 
Forfeited(115)
Vested(325)
Outstanding as of June 30, 20241,109 1.71$19.46 
Outstanding as of December 31, 20241,421 1.36$18.17 
Granted2,682 $9.92 $26,384 
Forfeited(287)
Vested(601)
Outstanding as of June 30, 20253,215 1.23$11.27 
Schedule of PSU Activity
The following tables summarize RSU and PSU activity under the 2021 Incentive Plan for the six months ended June 30, 2025 and June 30, 2024 (in thousands, except per unit data):
RSUs and PSUsNumber of RSUs and PSUsWeighted Average Remaining Contractual Term (years)Weighted Average Grant Date Fair ValueAggregate Intrinsic Value
Outstanding as of December 31, 2023521 1.38$69.75 
Granted1,028 $12.05 $12,393 
Forfeited(115)
Vested(325)
Outstanding as of June 30, 20241,109 1.71$19.46 
Outstanding as of December 31, 20241,421 1.36$18.17 
Granted2,682 $9.92 $26,384 
Forfeited(287)
Vested(601)
Outstanding as of June 30, 20253,215 1.23$11.27 
Summary of Incentive Unit Activity
The following table summarizes common incentive unit activity under the Opco Plan for the six months ended June 30, 2025 and June 30, 2024 (in thousands, except per unit data):
Common Incentive UnitsNumber of Common Incentive UnitsWeighted Average Remaining Contractual Term (years)Weighted Average Grant Date Fair ValueAggregate Intrinsic Value
Outstanding as of December 31, 2024287 0$166.75 $47,867 
Granted— 
Forfeited— 
Exchanged(1)
Outstanding as of June 30, 2025286 0$166.75 $47,024 
Common Incentive UnitsNumber of Common Incentive UnitsWeighted Average Remaining Contractual Term (years)Weighted Average Grant Date Fair ValueAggregate Intrinsic Value
Outstanding as of December 31, 2023309 0$166.75 $51,467 
Granted— 
Forfeited— 
Exchanged(5)
Outstanding as of June 30, 2024304 0$166.75 $50,677 
Schedule of Valuation Assumptions The assumptions noted in the table below were used to estimate the fair value of the PSUs with market conditions.
Initial stock price
$8.71 - $12.79
Expected term (years)
2 - 3 years
Coefficient of variation-
Risk free rate
3.79% - 3.98%
Volatility125 %
Dividend yield0%