Quarterly report pursuant to Section 13 or 15(d)

EQUITY-BASED COMPENSATION (Tables)

v3.21.2
EQUITY-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Shared-based Payment Arrangement, Profits Interests, Activity
The following table summarizes the profits interests activity under the WUP management incentive plan as of September 30, 2021:
  Number of
Profits Interests
Weighted-Average Grant
Date Fair Value
  (in thousands)
Outstanding profits interests as of January 1, 2021 29,111  $ 0.42 
Granted —  — 
Exercised (206) 0.74 
Expired/forfeited —  — 
Outstanding profits interests as of September 30, 2021 28,905  $ 0.42 
Schedule Of Nonvested Profit Interests Activity
The following table summarizes the status of non-vested profits interests as of September 30, 2021:
  Number of
Profits Interests
Weighted-Average Grant
Date Fair Value
  (in thousands)
Non-vested profits interests as of January 1, 2021 12,619  $ 0.29 
Granted — 
Vested (7,886) 0.25 
Forfeited —  — 
Non-vested profits interests as of September 30, 2021 4,733  $ 0.35 
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
The following table summarizes the restricted interests activity under the WUP management incentive plan as of September 30, 2021:
Number of
Restricted Interests
Weighted-Average Grant
Date Fair Value
(in thousands)
Non-vested and outstanding restricted interests as of January 1, 2021 4,662  $ 3.98 
Granted —  — 
Vested —  — 
Expired/forfeited —  — 
Non-vested and outstanding restricted interests as of September 30, 2021 4,662  $ 3.98 
Share-based Payment Arrangement, Option, Activity
The following table summarizes the activity under the stock option plan as of September 30, 2021:
Number of
Stock Options
Weighted-
Average Exercise
Price
Weighted-Average Grant
Date Fair Value
(in thousands)
Outstanding stock options as of January 1, 2021 16,284  $ 7.51  $ 1.17 
Granted 921  10.00  3.54 
Exercised (230) 7.19  0.78 
Expired/forfeited (49) 7.19  0.67 
Outstanding stock options as of September 30, 2021 16,926  $ 7.65  $ 1.31 
Exercisable stock options as of September 30, 2021 11,747  $ 7.39  $ 1.03 
Schedule of Nonvested Share Activity
The following table summarizes the status of non-vested stock options as of September 30, 2021:
  Number of Stock
Options
Weighted-Average Grant
Date Fair Value
  (in thousands)
Non-vested stock options as of January 1, 2021 10,987  $ 1.41 
Granted 921  3.54 
Vested (6,681) 1.29 
Forfeited (48) 0.67 
Non-vested stock options as of September 30, 2021 5,179  $ 1.94 
Share-based Payment Arrangement, Restricted Stock Unit, Activity
The following table summarizes the activity under the 2021 LTIP Plan related to RSUs as of September 30, 2021:
Number of RSUs Weighted-Average Grant
Date Fair Value
(in thousands)
Non-vested and outstanding RSUs as of January 1, 2021 —  $ — 
Granted 5,856  7.48 
Vested —  — 
Forfeited —  — 
Non-vested and outstanding RSUs as of September 30, 2021 5,856  $ 7.48 
Share-based Payment Arrangement, Expensed and Capitalized, Amount
The following table summarizes equity-based compensation expense recognized by condensed consolidated statement of operations line item (in thousands):
Three Months Ended September 30, Nine Months Ended September 30,
2021 2020 2021 2020
Cost of revenue $ 679  $ 109  $ 779  $ 226 
Technology and development 619  129  806  342 
Sales and marketing 2,449  261  2,901  814 
General and administrative 24,159  669  26,182  1,142 
Total equity-based compensation expense $ 27,906  $ 1,168  $ 30,668  $ 2,524