Quarterly report pursuant to Section 13 or 15(d)

Share-based Compensation (Tables)

v3.24.1.u1
Share-based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Fair Value of Options and Share Awards Granted Under the Plan

 

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:

 

(in thousands except share and per share data)

 

 

 

 

 

 

 

Weighted Average

 

 

Aggregate

 

 

Number of

 

 

Weighted Average

 

 

Remaining

 

 

Intrinsic

 

 

Options

 

 

Exercise Price

 

 

Contractual Term

 

 

Value

 

Balance at January 1, 2024

 

 

1,213,957

 

 

$

4.43

 

 

 

8.70

 

 

$

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited/Cancelled

 

 

(78,325

)

 

 

7.11

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Balance at March 31, 2024

 

 

1,135,632

 

 

 

4.22

 

 

 

5.49

 

 

$

187

 

Exercisable at March 31, 2024

 

 

704,005

 

 

$

4.98

 

 

 

5.23

 

 

$

52

 

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, 2024

 

 

506,522

 

 

$

1.67

 

Options granted

 

 

 

 

 

 

Options forfeited/cancelled

 

 

(7,830

)

 

 

2.75

 

Options exercised

 

 

 

 

 

 

Options vested

 

 

(67,065

)

 

 

1.70

 

At March 31, 2024

 

 

431,627

 

 

$

1.65

 

Summary of Restricted Stock Units Activity

The following table summarizes the restricted stock units activity:

 

 

 

Outstanding

 

 

Value

 

Outstanding at January 1, 2024

 

 

 

 

$

 

Granted

 

 

350,000

 

 

 

1.78

 

Forfeited/cancelled

 

 

 

 

 

 

Vested

 

 

(115,000

)

 

 

1.73

 

Outstanding at March 31, 2024

 

 

235,000

 

 

$

1.81