Quarterly report pursuant to Section 13 or 15(d)

EQUITY- BASED COMPENSATION (Tables)

v3.21.2
EQUITY- BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2021
EQUITY- BASED COMPENSATION  
Summary of changes in unvested restricted stock

Unvested RSUs

Weighted

Average

Number of

Grant-date

    

Shares

    

Fair Value

in thousands

$ per share

Unvested at December 31, 2020

 

2,938

$

0.85

Granted

 

1,995

$

3.20

Vested

(1,234)

$

0.85

Forfeited

(216)

$

0.67

Unvested at March 31, 2021

3,483

$

2.21

Granted

15

$

4.60

Vested

(288)

$

0.86

Forfeited

(25)

$

1.04

Unvested at June 30, 2021

3,185

$

2.35

Granted

190

$

3.71

Vested

(50)

$

0.80

Forfeited

(10)

$

1.90

Unvested at September 30, 2021

3,315

$

2.45

Schedule of stock option activity

Weighted

Weighted

Average

Average

Remaining

Aggregate

Number of

Exercise

Contractual

Intrinsic

    

Options

    

Price

    

Term

    

Value

in thousands

$ per share

Outstanding at December 31, 2020

6,581

$

1.50

Granted

235

$

3.10

Exercised

(846)

$

1.36

Expired

(6)

$

2.76

Outstanding at March 31, 2021

5,964

$

1.59

4.3

years

$

7,480

Exercised

(88)

$

1.21

Forfeited

(100)

$

0.80

Outstanding at June 30, 2021

 

5,776

$

1.60

 

4.1

years

 

$

13,265

Expired

(40)

$

2.58

Forfeited

(500)

$

1.04

Outstanding at September 30, 2021

5,236

$

1.65

3.8

years

$

6,885

Exercisable at September 30, 2021

 

4,900

$

1.56

 

3.7

years

 

$

6,848

Schedule of fair value assumptions

    

2021

Risk-free interest rate (1)

 

0.54

%

Expected dividend yield (2)

 

%

Expected volatility (3)

 

87.92

%

Expected term of stock options (4)

 

4.09

years

(1) The risk-free interest rate is based on the period matching the expected term of the stock options based on the U.S. Treasury yield curve in effect on the grant date.
(2) The expected dividend yield is assumed as zero. The Company has never paid cash dividends nor does it anticipate paying dividends in the foreseeable future.
(3) The expected volatility is based on historical volatility of the Company’s stock.
(4) The expected term represents the period of time that options granted are expected to be outstanding based on vesting date and contractual term.
Schedule of compensation costs related to restricted stock and stock options

Three Months Ended

Nine Months Ended

September 30, 

September 30, 

    

2021

    

2020

    

2021

    

2020

Sales, general, and administrative

$

1,073

$

278

$

2,750

$

1,051

Research and Development

 

46

 

28

 

121

 

111

Total RSUs and stock option compensation

$

1,119

$

306

$

2,871

$

1,162