Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation and Other Benefit Plans (Tables)

v3.22.1
Stock-Based Compensation and Other Benefit Plans (Tables)
3 Months Ended
Mar. 31, 2022
Stock-Based Compensation and Other Benefit Plans [Abstract]  
Summary of Stock-Based Compensation

Three Months Ended March 31,

2022

2021

(in thousands)

Stock-based compensation - equity awards

$

404

$

323

Stock-based compensation - liability awards

1,018

1,236

Total stock-based compensation

$

1,422

$

1,559

Stock Option Valuation Assumptions

Three Months Ended March 31,

2022

2021

Weighted average exercise price - ($/share)

$

6.41

$

3.14

Expected life in years

6.0

6.0

Average expected volatility

72

%

75

%

Risk-free interest rate

1.98

%

0.95

%

Expected dividend yield

2.30

%

Weighted average grant date fair value - ($/share)

$

2.84

$

2.07

Stock Option Activity Stock option activity associated with the Monte Carlo model for the three months ended March 31, 2022 is provided below:

Number of Shares Underlying Options

Weighted Average Exercise Price Per Share

Weighted Average Remaining Contractual Term

Aggregate Intrinsic Value

(in thousands)

(in years)

(in thousands)

Outstanding at January 1, 2022

359

$

1.96

Granted

241

6.41

Exercised

Unvested shares forfeited

Vested shares expired

Outstanding at March 31, 2022

600

$

3.75

9.09

$

1,670

Exercisable at March 31, 2022

120

$

1.96

8.51

$

547

Stock option activity associated with the Black-Scholes model for the three months ended March 31, 2022 is provided below:

Number of Shares Underlying Options

Weighted Average Exercise Price Per Share

Weighted Average Remaining Contractual Term

Aggregate Intrinsic Value

(in thousands)

(in years)

(in thousands)

Outstanding at January 1, 2022

615

$

1.58

Granted

Exercised

(171)

1.16

Unvested shares forfeited

Vested shares expired

Outstanding at March 31, 2022

444

$

1.74

1.49

$

2,125

Exercisable at March 31, 2022

429

$

1.73

1.47

$

2,062

Summary of Non Vested Awards

Restricted Stock

Weighted Average Grant Date Fair Value

(in thousands)

Non-vested shares outstanding at January 1, 2022

741

$

2.36

Awards granted

353

6.41

Awards vested

(129)

3.07

Awards forfeited

(26)

3.06

Non-vested shares outstanding at March 31, 2022

939

$

3.77

SAR Activity

Number of Shares Underlying SARs

Weighted Average Exercise Price Per Share

Term

Aggregate Intrinsic Value

(in thousands)

(in years)

(in thousands)

Outstanding at January 1, 2022

362

$

1.81

Granted

Exercised

(59)

1.41

Unvested SARs forfeited

Vested SARs expired

Outstanding at March 31, 2022

303

$

1.89

1.75

$

1,402

Exercisable at March 31, 2022

237

$

1.94

1.65

$

1,086