Annual report pursuant to Section 13 and 15(d)

SHARE-BASED COMPENSATION (Tables)

v3.22.1
SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2021
SHARE-BASED COMPENSATION  
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, 2021

 

468,070

$

0.14

 

9.25

$

1,315,512

Granted

 

1,096,723

 

2.53

 

Forfeited/Cancelled

 

(64,042)

 

0.002

 

Exercised

 

(27,763)

 

0.002

 

Balance at December 31, 2021

 

1,472,988

 

1.92

 

8.98

$

3,616,248

Exercisable at December 31, 2021

 

414,752

$

1.41

 

8.70

$

1,232,968

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, 2021

427,035

$

1.21

Options granted

 

1,096,723

 

0.84

Options forfeited/cancelled

 

(64,042)

 

1.88

Options exercised

 

(10,844)

 

1.35

Options vested

 

(390,637)

 

0.96

At December 31, 2021

 

1,058,235

$

0.95

Summary of restricted stock awards activity

NOTE 9 – SHARE-BASED COMPENSATION (CONTINUED)

The following table summarizes the restricted stock awards activity:

Weighted-Average 

Restricted Stock 

Grant Date Fair Value 

    

Awards

    

Per Share

Outstanding at January 1, 2021

 

1,618,565

$

1.47

Granted

 

 

Forfeited/cancelled

 

(107,271)

 

1.80

Vested

 

(802,679)

 

1.43

Outstanding at December 31, 2021

 

708,615

$

1.42

Outstanding at January 1, 2020

 

2,130,689

$

1.41

Granted

 

134,397

 

2.13

Forfeited/cancelled

 

 

Vested

 

(646,521)

 

1.44

Outstanding at December 31, 2020

 

1,618,565

$

1.47

Schedule of fair value of options and share awards granted under the stock option plan

    

2021

    

2020

 

Risk-free interest rates

 

0.91

%  

0.29 – 1.40

%

Expected life

 

5 years

 

5-6.25 years

Expected volatility

 

40.81

%  

34.60-41.07

%

Expected dividend yield

 

0.00

%  

0.00

%