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Share-based payment arrangements (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure of terms and conditions of share-based payment arrangement [abstract] |
Share-based payments expense | Share-based payments expense consists of:
| December 31, 2021 |  | December 31, 2020
Share options | $ | 2,806 |  |  | $ | 3,347 |
Restricted share units with no performance criteria | 1,291 |  |  | 1,305 |
Restricted share units with performance criteria | 3,462 |  |  | 2,556 |
Deferred units | (516) |  |  | 2,270 |
Performance share units | 902 |  |  | 1,214 |
| $ | 7,945 |  |  | $ | 10,692 |
Summary of movements in number of share options outstanding and weighted average exercise prices | Movements in the number of share options outstanding and their related weighted average exercise prices are as follows:
| 2021 |  | 2020
| Weighted average price Cdn$ | Number of options |  | Weighted average price Cdn$ | Number of options
At January 1, | $11.56 | 5,092,388 |  |  | $14.08 | 5,714,491 |
Granted | 13.27 | 1,091,891 |  |  | 12.72 | 1,156,744 |
Exercised | 6.36 | (339,540) |  |  | 7.75 | (618,915) |
Expired | 16.27 | (803,771) |  |  | 33.40 | (813,933) |
Forfeited | 12.68 | (790,230) |  |  | 12.53 | (345,999) |
At December 31, | $11.32 | 4,250,738 |  |  | $11.56 | 5,092,388 |
Summary of range of exercise prices of outstanding share options | Options outstanding are as follows:
|  | December 31, 2021 |  | December 31, 2021
|  | Total options outstanding |  | Exercisable options
Range of exercise price Cdn$ |  | Shares |  | Weighted average remaining contractual life (years) |  | Weighted average exercise price Cdn$ |  | Shares |  | Weighted average exercise price Cdn$
$5.00 to $5.99 |  | 1,379,016 |  |  | 2.2 |  | $5.68 |  | 848,105 |  |  | $5.68
$6.00 to $6.99 |  | 422,924 |  |  | 1.3 |  | 6.20 |  | 422,924 |  |  | 6.20
$10.00 to $10.99 |  | 152,941 |  |  | 2.9 |  | 10.40 |  | 101,960 |  |  | 10.40 |
$12.00 to $12.99 |  | 683,895 |  |  | 3.2 |  | 12.90 |  | 222,251 |  |  | 12.90 |
$13.00 to $13.99 |  | 932,028 |  |  | 4.1 |  | 13.24 |  | 12,879 |  |  | 13.50 |
$14.00 to $14.99 |  | 33,351 |  |  | 4.2 |  | 14.60 |  | — |  |  | — |
$22.00 to $22.99 |  | 494,650 |  |  | 0.1 |  | 22.00 |  | 494,650 |  |  | 22.00
$23.00 to $23.99 |  | 151,933 |  |  | 0.2 |  | 23.18 |  | 151,933 |  |  | 23.18
|  | 4,250,738 |  |  | 2.4 |  | $11.32 |  | 2,254,702 |  |  | $11.51
Summary of assumptions used to estimate the fair value of options granted | The assumptions used to estimate the fair value of options granted during the years ended December 31, 2021 and December 31, 2020 are in the table below. Volatility was determined based on the historical volatility over the estimated lives of the options.
| 2021 |  |  | 2020 |
Risk-free interest rate (range) | 0.3% – 0.8% |  | 0.3 – 1.0%
Expected volatility (range) | 64% – 68% |  | 63% – 70%
Expected life (range) (years) | 1.92 – 3.93 |  | 1.96 – 3.96
Expected dividends (Cdn$) | — |  |  | — |
Summary of movements in number of share options outstanding | A summary of the status of the RSUs with no performance criteria and changes during the year ended December 31, 2021 and December 31, 2020 is as follows:
| 2021 |  |  | 2020 |
At January 1, | 478,067 |  |  | 536,330 |
Granted | 180,132 |  |  | 149,552 |
Redeemed | (135,833) |  |  | (190,963) |
Forfeited | (50,604) |  |  | (16,852) |
At December 31, | 471,762 |  |  | 478,067 |
A summary of the status of the RSUs with performance criteria and changes during the year ended December 31, 2021 and December 31, 2020 is as follows:
| 2021 |  |  | 2020 |
At January 1, | 689,967 |  |  | 457,498 |
Granted | 440,508 |  |  | 299,112 |
Redeemed | (160,470) |  |  | — |
Forfeited | (61,628) |  |  | (66,643) |
At December 31, | 908,377 |  |  | 689,967 |
Movements in the PSUs during the year ended December 31, 2021 and December 31, 2020 are as follows:
| 2021 |  | 2020
At January 1, | 525,605 |  |  | 610,885 |
Granted | 267,936 |  |  | — |
Expired | — |  |  | (85,280) |
Redeemed | (514,010) |  |  | — |
Forfeited | (1,511) |  |  | — |
At December 31, | 278,020 |  |  | 525,605 |

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