Equity Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands |
9 Months Ended |
|
Sep. 30, 2024
USD ($)
director
$ / shares
shares
|
Sep. 30, 2023
USD ($)
$ / shares
shares
|
Dec. 31, 2023
$ / shares
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Non-linear transfer restrictions, period following initial public offering (at least) |
5 years
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Award vesting rights |
The Staking Options vest over 10 years from the grant date, with 10% vesting in each of years 3 through 9 and 30% vesting in year 10.
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Description of performance based awards |
(i) an Adjusted EBITDAC Margin target, (ii) an Organic Revenue Growth Compound Annual Growth Rate (“CAGR”) target, and (iii) total shareholder return (“TSR”) CAGR targets. The TSR CAGR targets are measured from the grant date share price to the sum of (i) the average of (a) the volume weighted average price (“VWAP”) of the Class A common stock for the fourth quarter of 2027 and (b) the VWAP of the Class A common stock for the first quarter of 2028 and (ii) dividends paid to Class A common shareholders. The Adjusted EBITDAC Margin and the Organic Revenue Growth CAGR targets as well as a minimum threshold for the TSR CAGR target must be achieved for the awards to vest. If the Adjusted EBITDAC Margin or the Organic Revenue Growth CAGR targets are not met, or the TSR CAGR is below the minimum threshold, the awards will be forfeited.
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Dividends accrued | $ |
$ 3,586
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$ 0
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Accounts Payable and Accrued Liabilities |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Dividends accrued | $ |
800
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Declared distributions | $ |
100
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Other Non-Current Liabilities |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Dividends accrued | $ |
2,400
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Declared distributions | $ |
$ 300
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IPO RSUs |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Granted (in dollars per share) | $ / shares |
$ 0
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Granted (in shares) |
0
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Incentive RSUs |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights |
The Incentive RSUs vest either 100% 3 or 5 years from the grant date, pro rata over 3 or 5 years from the grant date, over 5 years from the grant date, with one-third of the grant vesting in each of years 3, 4 and 5, or
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Award vesting rights, percentage |
100.00%
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Granted (in dollars per share) | $ / shares |
$ 52.72
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Granted (in shares) |
794,643
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Incentive RLUs |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
3 years
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Award vesting rights, percentage |
100.00%
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Director Stock Grant | Class A Common Stock |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Granted (in dollars per share) | $ / shares |
$ 49.07
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$ 40.86
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Pro Rata | Incentive RSUs | Minimum | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
3 years
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Restricted LLC Units |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
5 years
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Award vesting rights |
RLUs to certain employees that vest either pro rata over 5 years from the grant date or over 10 years from the grant date, with 10% vesting in each of years 3 through 9 and 30% vesting in year 10.
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Conversion ratio |
1
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Restricted LLC Units | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
10.00%
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Restricted LLC Units | Tranche 2 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
10 years
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Award vesting rights, percentage |
30.00%
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Restricted LLC Units | Minimum | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
3 years
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Restricted LLC Units | Maximum | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
9 years
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Restricted LLC Units | Incentive RLUs |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights |
Company issues Incentive RLUs to certain employees. The Incentive RLUs vest either 100% 3 years from the grant date, pro rata over 3 or 5 years from the grant date, or over 7 years from the grant date, with 20% vesting in each of years 3 through 7.
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Restricted LLC Units | Incentive RLUs | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
20.00%
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Restricted LLC Units | Incentive RLUs | Minimum | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
3 years
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Restricted LLC Units | Incentive RLUs | Maximum | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
7 years
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Restricted LLC Units | Pro Rata | Minimum |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
5 years
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Restricted LLC Units | Pro Rata | Maximum |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
10 years
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Restricted LLC Units | Pro Rata | Incentive RLUs |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
7 years
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Restricted LLC Units | Pro Rata | Incentive RLUs | Minimum |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
3 years
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Restricted LLC Units | Pro Rata | Incentive RLUs | Maximum |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
5 years
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Restricted Stock and Restricted Common Units | Pro Rata |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
5 years
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Restricted Stock Unit |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Conversion ratio |
1
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Non compensation for service on board (in directors) | director |
1
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Restricted Stock Unit | IPO RSUs |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights |
RSUs vest either pro rata over 5 years from the grant date or over 10 years from the grant date, with 10% vesting in each of years 3 through 9 and 30% vesting in year 10
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Restricted Stock Unit | IPO RSUs | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
10.00%
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Restricted Stock Unit | IPO RSUs | Tranche 2 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
10 years
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Award vesting rights, percentage |
30.00%
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Restricted Stock Unit | IPO RSUs | Minimum | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
3 years
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Restricted Stock Unit | IPO RSUs | Maximum | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
9 years
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Restricted Stock Unit | Incentive RSUs |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
20.00%
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Restricted Stock Unit | Incentive RSUs | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
4 years
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Restricted Stock Unit | Incentive RSUs | Tranche 2 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
7 years
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Restricted Stock Unit | Incentive RSUs | Minimum |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
3 years
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Restricted Stock Unit | Incentive RSUs | Minimum | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
3 years
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Restricted Stock Unit | Incentive RSUs | Minimum | Tranche 3 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
3 years
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Restricted Stock Unit | Incentive RSUs | Maximum |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
5 years
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Restricted Stock Unit | Incentive RSUs | Maximum | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
5 years
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Restricted Stock Unit | Incentive RSUs | Maximum | Tranche 3 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
7 years
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Restricted Stock Unit | Director Stock Grant |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Granted (in shares) |
22,935
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19,698
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Restricted Stock Unit | Pro Rata | Minimum |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
5 years
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Restricted Stock Unit | Pro Rata | IPO RSUs | Maximum |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
10 years
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Restricted Stock Unit | Pro Rata | Incentive RSUs | Maximum | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
5 years
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Incentive RSUs | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
33.00%
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Incentive RSUs | Tranche 2 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
33.00%
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Incentive RSUs | Tranche 3 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
33.00%
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Reload and Staking Options |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Share price (in dollars per share) | $ / shares |
$ 23.50
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Conversion ratio |
1
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Reload Options |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights |
The Reload Options vest either 100% 3 years from the grant date or over 5 years from the grant date, with one-third of the grant vesting in each of years 3, 4 and 5
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Options exercisable (in shares) |
6,666
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Reload Options | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
100.00%
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Reload Options | Option Two, Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
33.00%
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Reload Options | Tranche 2 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
4 years
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Award vesting rights, percentage |
33.00%
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Reload Options | Tranche 3 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
33.00%
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Reload Options | Minimum | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
3 years
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Reload Options | Minimum | Tranche 2 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
3 years
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Reload Options | Maximum | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
5 years
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Reload Options | Maximum | Tranche 2 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
5 years
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Staking Options |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Options exercisable (in shares) |
1,601,823
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Staking Options | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
10.00%
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Staking Options | Tranche 2 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
10 years
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Award vesting rights, percentage |
30.00%
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Staking Options | Minimum | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
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Award vesting period |
3 years
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Staking Options | Maximum | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
9 years
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Staking Options | Pro Rata |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
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Award vesting period |
10 years
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Incentive Options |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
4 years
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Options exercisable (in shares) |
0
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Conversion ratio |
1
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Incentive Options | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
33.00%
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Incentive Options | Tranche 2 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
33.00%
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Incentive Options | Tranche 3 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
33.00%
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Incentive Options | Minimum |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
3 years
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Incentive Options | Maximum |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
5 years
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Incentive Options | Pro Rata |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
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Award vesting period |
5 years
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Incentive Options | Pro Rata | Minimum |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
7 years
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Reload Class C Incentive Units |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights |
The Reload Class C Incentive Units vest either 100% 3 years from the grant date or over 5 years from the grant date, with one-third of the grant vesting in each of years 3, 4 and 5.
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Reload Class C Incentive Units | Class A Common Stock |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Conversion ratio |
1
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Reload Class C Incentive Units | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
100.00%
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Reload Class C Incentive Units | Option Two, Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
33.00%
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Reload Class C Incentive Units | Tranche 2 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
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Award vesting period |
4 years
|
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Award vesting rights, percentage |
33.00%
|
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Reload Class C Incentive Units | Tranche 3 |
|
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
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Award vesting rights, percentage |
33.00%
|
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|
Reload Class C Incentive Units | Minimum | Tranche 1 |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
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|
Award vesting period |
3 years
|
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Reload Class C Incentive Units | Minimum | Tranche 2 |
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|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
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|
Award vesting period |
3 years
|
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|
Reload Class C Incentive Units | Maximum | Tranche 1 |
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|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
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|
Award vesting period |
5 years
|
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|
Reload Class C Incentive Units | Maximum | Tranche 2 |
|
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|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
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|
Award vesting period |
5 years
|
|
|
Staking Class C Incentive Units |
|
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|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
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|
Award vesting rights |
The Staking Class C Incentive Units vest either pro rata over 5 years from the grant date or over 10 years from the grant date, with 10% vesting in each of years 3 through 9 and 30% vesting in year 10.
|
|
|
Granted (in shares) |
0
|
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|
Staking Class C Incentive Units | Tranche 1 |
|
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|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
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|
Award vesting rights, percentage |
10.00%
|
|
|
Staking Class C Incentive Units | Tranche 2 |
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
Award vesting period |
10 years
|
|
|
Award vesting rights, percentage |
30.00%
|
|
|
Staking Class C Incentive Units | Minimum | Tranche 1 |
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
Award vesting period |
3 years
|
|
|
Staking Class C Incentive Units | Maximum | Tranche 1 |
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
Award vesting period |
9 years
|
|
|
Staking Class C Incentive Units | Pro Rata | Minimum |
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
Award vesting period |
5 years
|
|
|
Staking Class C Incentive Units | Pro Rata | Maximum |
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
Award vesting period |
10 years
|
|
|
Class C Incentive Units |
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
Award vesting rights, percentage |
20.00%
|
|
|
Granted (in dollars per share) | $ / shares |
$ 0
|
|
|
Granted (in shares) |
0
|
|
|
Class C Incentive Units | Class A Common Stock |
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
Conversion ratio |
1
|
|
|
Class C Incentive Units | Tranche 1 |
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
Award vesting rights, percentage |
15.00%
|
|
|
Class C Incentive Units | Tranche 2 |
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
Award vesting period |
8 years
|
|
|
Award vesting rights, percentage |
25.00%
|
|
|
Class C Incentive Units | Minimum | Tranche 1 |
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
Award vesting period |
3 years
|
|
|
Class C Incentive Units | Maximum |
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
Award vesting period |
7 years
|
|
|
Class C Incentive Units | Maximum | Tranche 1 |
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
Award vesting period |
7 years
|
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Class C Incentive Units | Pro Rata |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting period |
8 years
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Reload and Staking Class C Incentive Units |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Weighted average participation threshold (in dollars per share) | $ / shares |
$ 23.38
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$ 23.50
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PSUs | Minimum |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
75.00%
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PSUs | Maximum |
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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Award vesting rights, percentage |
150.00%
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