Quarterly report pursuant to Section 13 or 15(d)

Incentive Plans (Tables)

v3.21.2
Incentive Plans (Tables)
6 Months Ended
Jun. 30, 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  —  — 
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, June 30, 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 six months ended June 30, 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 —  —  —  — 
Forfeited —  —  —  — 
Balance, June 30, 2021 1,878,986  $ 1.03  2,144,361  $ 1.29 
*The amounts reflected 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:
Three Months Ended Six Months Ended
June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020
General and administrative $ 299  $ 249  $ 600  $ 526 
Research and development 61  74  108  138 
Sales and marketing (7) (28) 13 
Total $ 353  $ 328  $ 680  $ 677 
Below is the compensation expense recognized related to the RSUs:
Three and Six Months Ended
June 30, 2021
General and administrative $ 2,969 
Research and development 707 
Sales and marketing 85 
Total $ 3,761 
Below is a summary of total compensation expense recorded in relation to the Company’s incentive plans, excluding additional expense related to repurchases:
Three Months Ended Six Months Ended
June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020
RSAs $ 353  $ 328  $ 680  $ 677 
RSUs 3,761  —  3,761  — 
Founder PSUs 139  —  139  — 
Total $ 4,253  $ 328  $ 4,580  $ 677 

Three Months Ended Six Months Ended
June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020
General and administrative $ 3,407  $ 249  $ 3,708  $ 526 
Research and development 768  74  815  138 
Sales and marketing 78  57  13 
Total $ 4,253  $ 328  $ 4,580  $ 677 
Share-based Payment Arrangement, Restricted Stock Unit, Activity
The following is a summary of activity related to the RSUs associated with compensation arrangements during six months ended June 30, 2021:

RSU’s Weighted-
Average
Grant-Date
Fair Value
RSU Units - Class B Common Stock Weighted-
Average
Grant-Date
Fair Value
Balance upon effect of reorganization* 3,009,982  $ 7.23  2,113,672  $ 2.29 
Granted —  —  —  — 
Vested —  —  —  — 
Forfeited —  —  —  — 
Unvested balance, June 30, 2021
3,009,982  $ 7.23  2,113,672  $ 2.29 
*The amounts reflected above reflect the Reorganization and maintain the fair value for the substitution of Alclear RSUs to RSUs.