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Share-based payment arrangements (Tables)
12 Months Ended
Dec. 31, 2022
Disclosure of terms and conditions of share-based payment arrangement [abstract]  
Share-based payments expense
Share-based payments expense consists of:
December 31, 2022December 31, 2021
Share options$4,376 $2,806 
Restricted share units with no performance criteria1,620 1,291 
Restricted share units with performance criteria2,545 3,462 
Deferred units144 (516)
Performance share units2,059 902 
$10,744 $7,945 
Summary of movements in number of share options outstanding and weighted average exercise prices
Movements in the number of share options outstanding and their related weighted average exercise prices are as follows:
20222021
Weighted
average price CDN$
Number of
options
Weighted
average price CDN$
Number of
options
At January 1,$11.324,250,738 $11.565,092,388 
Granted13.921,265,672 13.271,091,891 
Exercised6.42(885,750)6.36(339,540)
Expired22.28(646,583)16.27(803,771)
Forfeited13.62(234,847)12.68(790,230)
At December 31,$11.323,749,230 $11.324,250,738 
Summary of range of exercise prices of outstanding share options Options outstanding are as follows:
December 31, 2022December 31, 2022
Total options outstandingExercisable options
Range of 
exercise 
price 
CDN$
SharesWeighted
average
remaining
contractual
life (years)
Weighted
average
exercise
price
CDN$
SharesWeighted 
average 
exercise 
price 
CDN$
$5.00 to $5.99
862,128 2.16$5.68862,128 $5.68
$6.00 to $6.99
121,666 1.306.20121,666 6.20
$10.00 to $10.99
152,941 2.9210.40152,941 10.40 
$12.00 to $12.99
609,751 3.1812.90398,467 12.90 
$13.00 to $13.99
1,969,393 4.7313.63288,666 13.25 
$14.00 to $14.99
33,351 4.2314.6011,117 14.60 
3,749,230 3.69$11.321,834,985 $8.92
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, 2022 and December 31, 2021 are in the table below. Volatility was determined based on the historical volatility over the estimated lives of the options.
2022 2021 
Risk-free interest rate (range)
1.4% – 1.6%
0.3% – 0.8%
Expected volatility (range)
60% – 61%
64% – 68%
Expected life (range) (years)
1.96 – 3.96
1.92 – 3.93
Expected dividends (CDN $)— — 
Disclosure of RSUs with no performance criteria
A summary of the status of the RSUs with no performance criteria and changes during the years ended December 31, 2022 and December 31, 2021 is as follows:
2022 2021 
At January 1,471,762 478,067 
Granted176,414 180,132 
Redeemed(294,993)(135,833)
Forfeited(24,506)(50,604)
At December 31,328,677 471,762 
Movements in the PSUs during the years ended December 31, 2022 and December 31, 2021 are as follows:
20222021
At January 1,278,020 525,605 
Granted616,920 267,936 
Redeemed(528,166)(514,010)
Forfeited(24,104)(1,511)
At December 31,342,670 278,020 
Disclosure of RSUs with performance criteria
A summary of the status of the RSUs with performance criteria and changes during the years ended December 31, 2022 and December 31, 2021 is as follows:
2022 2021 
At January 1,908,377 689,967 
Granted229,979 440,508 
Redeemed(459,958)(160,470)
Forfeited(111,658)(61,628)
At December 31,566,740 908,377