Quarterly report pursuant to Section 13 or 15(d)

Share-based Compensation (Tables)

v3.23.2
Share-based Compensation (Tables)
6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Value of Options and Share Awards Granted Under the Stock Option Plan

 

January 2023

 

Risk-free interest rates

 

 

3.43

%

Expected life

 

5 years

 

Expected volatility

 

 

41.00

%

Expected dividend yield

 

 

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, 2023

 

 

931,934

 

 

$

5.88

 

 

 

8.91

 

 

$

203,295

 

Granted

 

 

319,750

 

 

 

3.44

 

 

 

 

 

 

 

Forfeited/Cancelled

 

 

(189,866

)

 

 

6.50

 

 

 

 

 

 

 

Exercised

 

 

(27,674

)

 

0.008

 

 

 

 

 

 

 

Balance at June 30, 2023

 

 

1,034,144

 

 

 

5.16

 

 

 

8.84

 

 

$

55,143

 

Exercisable at June 30, 2023

 

 

508,668

 

 

$

5.75

 

 

 

8.61

 

 

$

41,736

 

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, 2023

 

 

507,664

 

 

$

2.64

 

Options granted

 

 

319,750

 

 

 

1.41

 

Options forfeited/cancelled

 

 

(138,785

)

 

 

4.00

 

Options exercised

 

 

(2,119

)

 

 

5.14

 

Options vested

 

 

(161,034

)

 

 

2.07

 

At June 30, 2023

 

 

525,476

 

 

$

1.89

 

 

Summary of Restricted Stock Awards Activity

The following table summarizes the restricted stock awards activity:

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

Grant Date Fair

 

 

 

Outstanding

 

 

Value

 

Outstanding at January 1, 2023

 

 

55,735

 

 

$

5.92

 

Granted

 

 

 

 

 

 

Forfeited/cancelled

 

 

 

 

 

 

Vested

 

 

(46,054

)

 

 

5.81

 

Outstanding at June 30, 2023

 

 

9,681

 

 

$

6.37

 

Summary of Restricted Stock Units Activity

The following table summarizes the restricted stock units activity:

 

 

Outstanding

 

 

Value

 

Outstanding at January 1, 2023

 

 

72,957

 

 

$

4.44

 

Granted

 

 

152,137

 

 

 

3.32

 

Forfeited/cancelled

 

 

 

 

 

 

Vested

 

 

(99,052

)

 

 

4.22

 

Outstanding at June 30, 2023

 

 

126,042

 

 

$

3.23