Quarterly report pursuant to Section 13 or 15(d)

Share-based Compensation (Tables)

v3.22.2.2
Share-based Compensation (Tables)
9 Months Ended
Sep. 30, 2022
SHARE-BASED COMPENSATION  
Schedule of Fair Value of Options and Share Awards Granted Under the Stock Option Plan

 

 

June 2022

 

 

May 2021

 

Risk-free interest rates

 

 

3.61

%

 

 

0.912

%

Expected life

 

5 years

 

 

5 years

 

Expected volatility

 

 

41.00

%

 

 

40.81

%

Expected dividend yield

 

 

0.00

%

 

 

0.00

%

Summary of Stock Option Activity

The following table summarizes the stock option activity:

 

 

 

 

 

 

 

 

 

Weighted Average

 

 

Aggregate

 

 

 

Number of

 

 

Weighted Average

 

 

Remaining

 

 

Intrinsic

 

 

 

Options

 

 

Exercise Price

 

 

Contractual Term

 

 

Value

 

Balance at January 1, 2022

 

 

1,472,988

 

 

$

1.92

 

 

 

8.98

 

 

$

3,616,248

 

Granted

 

 

2,370,576

 

 

 

1.11

 

 

 

 

 

 

 

Forfeited/Cancelled

 

 

(26,196

)

 

 

0.002

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Balance at September 30, 2022

 

 

3,817,368

 

 

 

1.43

 

 

 

9.12

 

 

$

386,944

 

Exercisable at September 30, 2022

 

 

1,555,811

 

 

$

1.46

 

 

 

8.89

 

 

$

257,654

 

Summary of Non-vested Stock Options Activity

The following table summarizes the Company’s non-vested stock options:

 

 

 

 

 

 

Weighted-Average

 

 

 

Non-vested Options

 

 

Grant Date Fair

 

 

 

Outstanding

 

 

Value

 

At January 1, 2022

 

 

1,058,235

 

 

$

0.95

 

Options granted

 

 

2,370,576

 

 

 

0.46

 

Options forfeited/cancelled

 

 

(26,196

)

 

 

1.97

 

Options exercised

 

 

 

 

 

 

Options vested

 

 

(1,141,058

)

 

 

0.62

 

At September 30, 2022

 

 

2,261,557

 

 

$

0.71

 

Summary of Restricted Stock Awards Activity

The following table summarizes the restricted stock awards activity:

 

 

 

 

 

 

Weighted-Average

 

 

 

Non-vested Options

 

 

Grant Date Fair

 

 

 

Outstanding

 

 

Value

 

Outstanding at January 1, 2022

 

 

708,615

 

 

$

1.42

 

Granted

 

 

 

 

 

 

Forfeited/cancelled

 

 

 

 

 

 

Vested

 

 

(393,566

)

 

 

1.44

 

Outstanding at September 30, 2022

 

 

315,049

 

 

$

1.47

 

Summary of Restricted Stock Units Activity

The following table summarizes the restricted stock units activity:

 

 

 

Outstanding

 

 

Value

 

Outstanding at January 1, 2022

 

 

 

 

$

 

Granted

 

 

1,427,404

 

 

 

1.11

 

Forfeited/cancelled

 

 

 

 

 

 

Vested

 

 

(736,378

)

 

 

1.11

 

Outstanding at September 30, 2022

 

 

691,026

 

 

$

1.11