Quarterly report pursuant to Section 13 or 15(d)

Equity

v3.21.2
Equity
 6 Months Ended
Jun. 30, 2021
Equity [Abstract]  
Equity
11. Equity
RSG has issued equity to the Founder Group and other investors to raise funds for investments. The Company has separately issued equity and grants of unvested equity to the Company’s key employees and to the Company’s directors in order to attract and retain key talent. RSG has both preferred and common units.
In connection with the IPO but prior to June 30, 2021, as described in Note 17,
Subsequent Events
, the Board approved the repurchase of 74,990,000 Class B Preferred Units from the
Founder Group 
for $78.3
 million
, which reflects the par value of $75.0
million
plus unpaid accrued preferred dividends. As the repurchase did not occur until July 1, 2021, a liability for the full amount is included in Preferred units repurchase payable on the Consolidated Statements of Financial Position, and the Class B Preferred Units remained outstanding as of June 30, 2021.
The following table presents changes in the nu
m
ber of common and preferred units issued and repurchased:
 
    
Common Equity
    
Preferred Equity
  
    
Class A
    
Class B
     
Total
    
Class B
     
Total
  
December 31
, 20
20
   
 
693,876
 
  
 
75,478
 
   
 
769,354
 
  
 
74,990
 
   
 
74,990
 
Forfeitures
      (40 )      —     
 
(40
) 
     —        —  
Repurchases
      (41 )
 
 		     —     
 
(41
) 
     —        —  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2021
   
 
693,795
 
  
 
75,478
 
 
   
 
769,273
 
  
 
74,990
 
   
 
74,990
 
Forfeitures
      (375 )      —     
 
(375
) 
     —        —  
Repurchases
      (666 )      —     
 
(666
)
 
 
     —        —  
    
 
 
    
 
 
     
 
 
    
 
 
     
 
 
  
June 30, 2021
   
 
692,754
 
  
 
75,478
 
   
 
768,232
 
  
 
74,990
 
   
 
74,990
 
    
 
 
    
 
 
     
 
 
    
 
 
     
 
 
  
 
    
Common Equity
    
Preferred Equity
  
    
Class A
    
Class B
     
Total
    
Class B
     
Total
  
December 31
, 2019
   
 
655,386
 
  
 
65,354
   
 
720,740
 
  
 
—  
 
   
 
   
 
 
—  
 
Grants
      175       —   
 
175
 
     —          —    
Forfeitures
      (375 )      —   
 
(375
)
 
 
 
     —          —    
Repurchases
      (8,036 )      —     
 
(8,036
) 
     —          —    
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2020
   
 
647,150
 
  
 
65,354
 
   
 
712,504
 
  
 
—  
 
   
 
—  
 
Repurchases
      (1,081 )      —     
 
(1,081
) 
     —          —    
    
 
 
    
 
 
     
 
 
    
 
 
     
 
 
  
June 30, 2020
   
 
646,069
 
  
 
65,354
 
   
 
711,423
 
  
 
—  
 
   
 
—