XML 30 R19.htm IDEA: XBRL DOCUMENT
v3.21.2

Stock-Based Compensation | 9 Months Ended
--- | ---
Sep. 30, 2021
Share-based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation The Company grants equity-based awards to employees, non-employee directors, and consultants that may include, but are not limited to, RSA's, restricted stock units ("RSU's"), performance stock units ("PSU's") and stock options. Stock-based compensation expense related to manufacturing employees and administrative employees is included within the Cost of revenue and Payroll and benefits line items, respectively, in the Condensed Consolidated Statements of Operations. Stock-based compensation expense related to non-employee directors and consultants is included within the General and administrative line item in the Condensed Consolidated Statements of Operations. Total stock-based compensation expense for the three and nine months ended September 30, 2021 and 2020 was as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) |  | 2021 |  | 2020 |  | 2021 |  | 2020
RSA expense |  | $ | 435 |  |  | $ | 411 |  |  | $ | 1,353 |  |  | $ | 1,892 |
PSU expense |  | 54 |  |  | 15 |  |  | 123 |  |  | 178 |
Total stock-based compensation expense |  | $ | 489 |  |  | $ | 426 |  |  | $ | 1,476 |  |  | $ | 2,070 |
The amount of unrecognized compensation cost as of September 30, 2021, and the expected weighted-average period over which the cost will be recognized is as follows:
|  | As of September 30, 2021
(in thousands) |  | Unrecognized Compensation Cost |  | Expected Weighted- Average Period of Recognition (in years)
RSA expense |  | $ | 2,558 |  |  | 2.01
PSU expense |  | 438 |  |  | 1.99
Total unrecognized stock-based compensation expense |  | $ | 2,996 |  |  | 2.01
Restricted Stock Restricted stock is typically granted with vesting terms of three years. The fair value of RSA's and RSU's is determined based on the closing price of the Company’s common stock on the authorization date of the grant multiplied by the number of shares subject to the stock award. Compensation expense for RSA's is generally recognized on a straight-line basis over the entire vesting period. A summary of RSA activity under the Company's various stock compensation plans for the nine months ended September 30, 2021 is presented below:
|  | Restricted Stock |  |  |  | Weighted-Average Grant Date Fair Value |  |
Non-vested at January 1, 2021 |  | 373,860 |  |  |  |  | $ | 7.25 |  |  |
Granted |  | 441,109 |  |  |  |  | $ | 5.53 |  |  |
Vested |  | (193,624) |  |  |  |  | $ | 7.44 |  |  |
Forfeited |  | (54,299) |  |  |  |  | $ | 5.80 |  |  |
Non-vested at September 30, 2021 |  | 567,046 |  |  |  |  | $ | 5.99 |  |  |
Performance Share Units Compensation expense is recognized for PSU awards on a straight-line basis over the applicable service period, which is generally three years, based on the estimated fair value at the date of grant using a Monte Carlo simulation model. A summary of PSU activity for the nine months ended September 30, 2021 is presented below:
|  | Units |  | Weighted-Average Grant Date Fair Value |  | Aggregate Intrinsic Value (in thousands) |  | Weighted-Average Remaining Contractual Term (in years)
PSU's outstanding, January 1, 2021 |  | 50,127 |  |  | $ | 6.17 |  |  |  |  |
Granted |  | 62,448 |  |  | 7.09 |  |  |  |  |
Vested / Settled |  | — |  |  | — |  |  |  |  |
Forfeited / Canceled |  | — |  |  | — |  |  |  |  |
PSU's outstanding, September 30, 2021 |  | 112,575 |  |  | $ | 6.68 |  |  | $ | 719 |  |  | 1.99

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration