XML 32 R21.htm IDEA: XBRL DOCUMENT v3.21.2

Stock Options and Restricted Shares (Tables)

9 Months Ended

Sep. 30, 2021

Stock Options and Restricted Shares

Schedule of Stock Option Activity

A summary of stock option activity under the Innodata Inc. 2013 Stock Plan, as amended and restated effective June 7, 2016 (the “Plan”), as of September 30, 2021, and changes during the nine months then ended, are presented below:

​

​	​	​	​	​	​	​	​	​	​	​
​		​		Weighted -			Weighted-Average		​
​	​	Number of		Average Exercise			Remaining Contractual	​	Aggregate
​		Options		Price			Term (years)		Intrinsic Value
Outstanding at January 1, 2021		5,906,884	​	$	1.61				​
Granted		750,000	​		6.76				​
Exercised		(1,546,288)	​		2.01				​
Forfeited/Expired		(20,000)	​		1.38				​
Outstanding at September 30, 2021		5,090,596	​	$	2.05		7.49	​	$	37,037,015
​		​	​		​		​	​		​
Exercisable at September 30, 2021		3,468,912	​	$	1.73	​	7.03	​	$	27,069,483
​		​	​		​		​	​		​
Vested and Expected to Vest at September 30, 2021		5,090,596	​	$	2.05		7.49	​	$	37,037,015

Schedule of weighted average assumptions

The fair value of stock options is estimated on the date of grant using the Black-Scholes option pricing model. The weighted-average fair value of the options granted, and weighted-average assumptions were as follows:

​

​	​	​	​	​	​	​	​
​	​	For the Nine Months Ended September 30,					​
​		2021			2020		​
Weighted average fair value of options granted	​	$	3.56	​	$	0.61	​
Risk-free interest rate	​	​	0.22% - 0.82	%	​	0.29% - 0.56	%
Expected term (years)	​	​	3-6	​	​	5-6	​
Expected volatility factor	​	​	58% - 68	%	​	47% - 50	%
Expected dividends	​	​	None	​	​	None	​

Summary of restricted shares under the Company's Plan

A summary of outstanding restricted shares issued under the Plan as of September 30, 2021 are presented below:

​

​	​	​	​	​	​
​	​	​		Weighted-Average Grant
​		Number of Shares		Date Fair Value
Unvested at December 31, 2020	​	50,000	​	​	-
Granted		-		​	-
Vested		(25,000)		​	-
Forfeited/Expired		-		​	-
Unvested at September 30, 2021		25,000	​	$	1.38

Schedule of Stock-Based Compensation Expense

The stock-based compensation expense related to the Company’s various stock awards was allocated as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Three Months Ended

​

For the Nine Months Ended

​

​

September 30,

​

September 30,

​

2021

2020

2021

2020

Direct operating costs

​

$

21

​

$

40

​

$

96

​

$

119

Selling and administrative expenses

​

482

​

192

​

1,021

​

581

Total stock-based compensation

​

$

503

​

$

232

​

$

1,117

​

$

700

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration