Latham Group expects $138M stock-based comp expense in FY 2021 from IPO unit conversion

Latham Group, Inc.

FY 2021 stock-based comp expense expected ~$138M, ~$131M from conversion of Class B units into restricted/common stock.
Q2 2021 expects ~$76M stock-based comp, including $49.5M acceleration charges from reorganization/conversion.
Remaining FY 2021 stock-based comp to be recognized evenly in Q3 and Q4.
Expense is non-cash and relates to April 2021 IPO.

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