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Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Cash Dividends Declared

The following table details our cash dividends declared in 2021:

																								(Dollars in thousands)
Declaration Date						Record Date						Payment Date						Per Share Amount						Total Declared(1)
February 17, 2021						March 16, 2021						March 30, 2021						$	0.125					$	2,553
April 28, 2021						May 25, 2021						June 24, 2021						0.125						2,553
July 28, 2021						August 17, 2021						September 10, 2021						0.125						2,545
Total																		$	0.375					$	7,651

(1) The total declared reflects the cash dividends declared in relation to common stock, deferred stock units ("DSUs") and unvested RSUs.

Basic and Diluted Net Income (Loss) Per Common Shares

The components of basic and diluted net income (loss) per common share were as follows for the periods stated:

			For the Three Months Ended September 30,												For the Nine Months Ended September 30,
(in thousands, except for share and per share amounts)			2021						2020						2021						2020
Numerator:
Net (loss) income			$	(2,494)					$	3,165					$	(5,510)					$	2,384
Denominator:
Basic weighted average common shares outstanding			19,464,893						19,051,502						19,378,543						19,008,969
Diluted weighted average common shares outstanding			19,464,893						19,208,452						19,378,543						19,273,243
Basic net (loss) income per common share			$	(0.13)					$	0.17					$	(0.28)					$	0.13
Diluted net (loss) income per common share			$	(0.13)					$	0.16					$	(0.28)					$	0.12

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

For the three and nine months ended September 30, 2021, and 2020 the following securities were excluded from the calculation of diluted shares outstanding as the effect would have been anti-dilutive:

			For the Three Months Ended September 30,												For the Nine Months Ended September 30,
			2021						2020						2021						2020
Restricted stock units			197,900						—						341,443						—

Activities Under Equity Plan

The following table summarizes the activities under the Equity Plans from January 1, 2021, through September 30, 2021:

			Activity
Total equity securities available at January 1, 2021			1,699,314
RSU, DSU, and restricted stock awarded to eligible employees, net of forfeitures			(508,889)
Issuance of common stock in lieu of cash compensation			(169,944)
Total equity securities available at September 30, 2021			1,020,481

The following table summarizes the activities under the ESPP from January 1, 2021, through September 30, 2021:

			Activity
Total ESPP equity securities available at January 1, 2021			149,199
ESPP common stock purchased by eligible employees			(16,015)
Total ESPP securities available at September 30, 2021			133,184

Summary of Outstanding RSUs

The following table details activities with respect to outstanding RSUs, DSUs, and restricted stock under the Equity Plans for the nine months ended September 30, 2021:

			Shares						Weighted- Average Grant Date Fair Value
Unvested at January 1, 2021			636,722						$	12.16
Granted			644,339						11.02
Vested			(41,760)						10.09
Forfeited			(135,450)						12.14
Unvested at September, 30 2021			1,103,851						$	11.58

Stock Based Compensation Expense

The following table reflects the items for stock-based compensation expense in the Condensed Consolidated Statements of Operations for the periods stated:

			For the Three Months Ended September 30,												For the Nine Months Ended September 30,
(Dollars in thousands)			2021						2020						2021						2020
Performance-based RSUs			$	447					$	664					$	1,202					$	1,524
Time-based RSUs, DSUs and restricted stock			939						929						2,920						2,556
Equity in lieu of salary			607						—						1,847						—
ESPP			23						23						67						80
Total stock-based compensation			$	2,016					$	1,616					$	6,036					$	4,160

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