XML 32 R22.htm IDEA: XBRL DOCUMENT
v3.22.1

Stock Options and Restricted Shares (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Schedule of Stock Option Activity | A summary of option activity under the Innodata Inc. 2013 Stock Plan, as amended and restated effective June 7, 2016 (the “2013 Plan”) and changes during each of the three-month periods ended March 31, 2022 and 2021 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 |  | 360,000 | ​ |  | 6.40 |  |  |  | ​ |
Exercised |  | (689,616) | ​ |  | 2.17 |  |  |  | ​ |
Forfeited/Expired |  | (13,333) | ​ |  | 1.38 |  |  |  | ​ |
Outstanding at March 31, 2021 |  | 5,563,935 | ​ | $ | 1.86 |  | 7.69 | ​ | $ | 24,770,815
​ |  | ​ | ​ |  | ​ |  | ​ | ​ |  | ​
Exercisable at March 31, 2021 |  | 3,594,434 | ​ | $ | 1.68 | ​ | 7.10 | ​ | $ | 16,621,389
​ |  | ​ | ​ |  | ​ |  | ​ | ​ |  | ​
Vested and Expected to Vest at March 31, 2021 |  | 5,563,935 | ​ | $ | 1.86 |  | 7.69 | ​ | $ | 24,770,815
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ |  | Weighted-Average |  | ​ | ​
​ | ​ | Number of | ​ | Weighted - Average | ​ | Remaining Contractual | ​ | Aggregate
​ | ​ | Options | ​ | Exercise Price | ​ | Term (years) | ​ | Intrinsic Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at January 1, 2022 | ​ | 5,536,896 | ​ | $ | 2.66 | ​ |  | ​ |  | ​
Granted |  | 1,479,558 |  | ​ | 5.21 |  |  |  | ​ |
Exercised |  | (22,500) |  | ​ | 1.17 |  |  |  | ​ |
Forfeited/Expired |  | (35,400) |  | ​ | 5.10 |  |  |  | ​ |
Outstanding at March 31, 2022 |  | 6,958,554 | ​ | $ | 3.20 |  | 7.84 | ​ | $ | 26,515,544
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exercisable at March 31, 2022 |  | 3,418,917 | ​ | $ | 1.82 |  | 6.53 | ​ | $ | 17,679,562
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Vested and Expected to Vest at March 31, 2022 |  | 6,958,554 | ​ | $ | 3.20 |  | 7.84 | ​ | $ | 26,515,544
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 Three Months Ended March 31, | ​
​ |  | 2022 |  | 2021 | ​
Weighted average fair value of options granted | ​ | $ | 3.10 | ​ | $ | 3.33 | ​
Risk-free interest rate | ​ | ​ | 1.94%-2.33% | ​ | ​ | 0.22%-0.82% | ​
Expected term (years) | ​ | ​ | 6.0-6.42 | ​ | ​ | 2.96-6.0 | ​
Expected volatility factor | ​ | ​ | 62.00 | % | ​ | 59.62 | %
Expected dividends | ​ | ​ | - | ​ | ​ | - | ​
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended
​ | ​ | March 31,
​ |  | 2022 |  | 2021
Direct operating costs | ​ | $ | 52 | ​ | $ | 38
Selling and administrative expenses | ​ |  | 485 | ​ |  | 240
Total stock-based compensation | ​ | $ | 537 | ​ | $ | 278
Restricted Stock |
Summary of restricted shares under the Company's Plan | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of Restricted |  | Weighted-Average Grant
​ |  | Shares |  | Date Fair Value
Unvested at January 1, 2022 | ​ | 25,000 | ​ | ​ | -
Granted |  | - |  | ​ | -
Vested |  | (25,000) |  | ​ | -
Forfeited/Expired |  | - |  | ​ | -
Unvested at March 31, 2022 |  | - | ​ | $ | 1.38
Restricted Stock Units |
Summary of restricted shares under the Company's Plan | Restricted stock unit activity during the three months ended March 31, 2022 was as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Number of |  | Weighted-Average
​ | ​ | Restricted Stock | ​ | Grant Date
​ | ​ | Units | ​ | Fair Value
​ | ​ | ​ | ​ | ​ | ​
Unvested at January 1, 2022 |  | - |  | ​ |
Granted* |  | 700,000 | ​ | $ | 5.59
Vested |  | - | ​ |  |
Forfeited/Expired |  | - | ​ |  |
Unvested at March 31, 2022 |  | 700,000 | ​ |  |
* 500,000 RSUs were issued under the 2013 plan and 200,000 RSUs were issued under the 2021 plan

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

X
- Details
Name: | us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AwardTypeAxis=us-gaap_RestrictedStockUnitsRSUMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |