Annual report pursuant to Section 13 and 15(d)

Incentive Plans (Tables)

v3.22.1
Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Nonvested Share Activity
The following table summarizes information about the unvested profit units and RSUs in Alclear that were reclassified to RSAs or RSUs in the Company:
Alclear RSU’s Weighted-
Average
Grant-Date
Fair Value
Profit Units Weighted-
Average
Grant-Date
Fair Value
Unvested balance, January 1, 2021
453,350  $ 14.51  9,085,704  $ 1.12 
Granted 860,357  15.33  —  0.64 
Vested —  —  (345,703) (0.40)
Forfeited (25,479) (15.36) (881,227) (0.90)
Effect of reorganization (1,288,228) (15.04) (7,858,774) 1.17 
Unvested balance, December 31, 2021
       
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
The following is a summary of activity related to the RSAs associated with compensation arrangements during years ended December 31, 2021.

RSA - Class A Common Stock Weighted-
Average
Grant-Date
Fair Value
RSA - Alclear Units Weighted-
Average
Grant-Date
Fair Value
Balance upon effect of reorganization* 1,878,986  $ 1.03  2,144,361  $ 1.29 
Granted —  —  —  — 
Vested (226,034) (1.10) (1,953,803) (1.29)
Forfeited (223,069) (0.95) —  — 
Unvested balance, December 31, 2021
1,429,883  $ 1.04  190,558  $ 1.29 
*The amounts above reflect the Reorganization and maintain the fair value for the substitution of profit units to RSAs.
Share-based Payment Arrangement, Expensed and Capitalized, Amount
Below is the compensation expense (credit) related to the RSAs:
For the years ended
December 31, 2021 December 31, 2020 December 31, 2019
Cost of direct salaries and benefits $ (5) $ 51  $ — 
General and administrative 1,078  1,056  1,236 
Research and development 230  317  193 
Sales and marketing (33) 34  11 
Total $ 1,270  $ 1,458  $ 1,440 
Below is the compensation expense recognized related to the RSUs:
For the years ended
December 31, 2021 December 31, 2020 December 31, 2019
Cost of direct salaries and benefits $ 321  $ —  $ — 
General and administrative 9,978  —  — 
Research and development 6,488  —  — 
Sales and marketing 237  —  — 
Total $ 17,024  $   $  
Below is a summary of total compensation expense recorded in relation to the Company’s incentive plans, excluding additional expense related to repurchases:
For the years ended
December 31, 2021 December 31, 2020 December 31, 2019
RSAs $ 1,270  $ 1,458  $ 1,440 
RSUs 17,024  —  — 
Founder PSUs 13,403  —  — 
Total $ 31,697  $ 1,458  $ 1,440 

For the years ended
December 31, 2021 December 31, 2020 December 31, 2019
Cost of direct salaries and benefits $ 317  $ 51  $ — 
General and administrative $ 24,459  $ 1,056  $ 1,236 
Research and development 6,718  317  193 
Sales and marketing 203  34  11 
Total $ 31,697  $ 1,458  $ 1,440 
Share-based Payment Arrangement, Restricted Stock Unit, Activity
The following is a summary of activity related to the RSUs associated with compensation arrangements during years ended December 31, 2021:

RSU’s Weighted-
Average
Grant-Date
Fair Value
RSU-Class A Common Stock Weighted-
Average
Grant-Date
Fair Value
Balance upon effect of Reorganization* 3,009,982  $ 7.23  2,113,672  $ 2.29 
Granted 1,880,506  34.77  —  — 
Vested (36,150) (14.51) (159,869) (15)
Forfeited (1,436,213) (3.71) (1,953,803) (1.29)
Unvested balance, December 31, 2021
3,418,125  $ 23.56    $  
*The amounts above reflect the Reorganization and maintain the fair value for the substitution of Alclear RSUs to RSUs.