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STOCK-BASED COMPENSATION | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION Stock Incentive Plans We have one long-term equity incentive plan, the RadNet, Inc. Equity Incentive Plan, which we first amended and restated April 20, 2015, again on March 9, 2017 and currently as of April 15, 2021 (the "Restated Plan”). The Restated Plan was most recently approved by our stockholders at our annual stockholders meeting on June 10, 2021. We have reserved for issuance under the 2017 Restated Plan 16,500,000 shares of common stock. We can issue options (incentive and non-qualified), stock awards, stock appreciation rights, stock units and cash awards under the Restated Plan. Options Certain options granted under the Restated Plan to employees are intended to qualify as incentive stock options under existing tax regulations. Stock options generally vest over three to five years and expire five to ten years from the date of grant. The following summarizes all of our option transactions for the twelve months ended December 31, 2022:
Outstanding Options Under the 2006 Plan |  | Shares |  | Weighted Average Exercise price Per Common Share |  | Weighted Average Remaining Contractual Life(in years) |  | Aggregate Intrinsic Value
Balance, December 31, 2021 |  | 473,939 |  |  | $ | 9.38 |  |  |  |  |
Granted |  | 229,975 |  |  | 28.36 |  |  |  |  |
Exercised |  | (25,000) |  |  | 11.75 |  |  |  |  |
Balance, December 31, 2022 |  | 678,914 |  |  | 15.72 |  |  | 6.07 |  | $ | 4,416,774 |
Exercisable at December 31, 2022 |  | 483,969 |  |  | 11.01 |  |  | 4.93 |  | 4,381,451 |
Aggregate intrinsic value in the table above represents the total pretax intrinsic value (the difference between our closing stock price on December 31, 2022 and the exercise price, multiplied by the number of in-the-money options as applicable) that would have been received by the holder had all holders exercised their options on December 31, 2022. As of December 31, 2022, total unrecognized stock-based compensation expense related to non-vested employee awards was $1.1 million which is expected to be recognized over a weighted average period of approximately 2.32 years. DeepHealth Options During the second quarter of fiscal 2020, in connection with the completion of the DeepHealth acquisition, we granted 412,434 options at a grant date fair value of $16.93 per share unit to DeepHealth employees in replacement of their stock options that were outstanding as of the closing date. As of December 31, 2022, total unrecognized stock based compensation expense related to non-vested DeepHealth options was approximately $0.6 million which is expected to be recognized over a weighted average period of approximately 0.74 years.
Outstanding Options Under the Deep Health Plan |  | Shares |  | Weighted Average Exercise price Per Common Share |  | Weighted Average Remaining Contractual Life (in years) |  | Aggregate Intrinsic Value
Balance, December 31, 2021 |  | 320,660 |  |  |  |  |  |  |
Exercised |  | (203,678) |  |  | — |  |  |  |  |
Balance, December 31, 2022 |  | 116,982 |  |  | — |  |  | 6.80 |  | $ | 2,202,771 |
Exercisable at December 31, 2022 |  | 76,909 |  |  | — |  |  | 6.80 |  | 1,448,198 |
Restricted Stock Awards (“RSA’s”) The Restated Plan permits the award of restricted stock awards (“RSA’s”). As of December 31, 2022, we have issued a total of 7,892,930 RSA’s of which 536,767 were unvested at December 31, 2022 . The following summarizes all unvested RSA’s activities during the twelve months ended December 31, 2022:
| RSA's |  | Weighted-Average Remaining Contractual Term (Years) |  | Weighted-Average Fair Value
RSA's unvested at December 31, 2021 | 456,075 |  |  |  |  | $ | 20.06 |
Changes during the period |  |  |  |  |
Granted | 649,901 |  |  |  |  | $ | 26.33 |
Vested | (563,731) |  |  |  |  | $ | 21.62 |
Forfeited | (5,478) |  |  |  |  | $ | 23.76 |
RSA's unvested at December 31, 2022 | 536,767 |  |  | 1.01 |  | $ | 23.84 |
We determine the fair value of all RSA’s based of the closing price of our common stock on award date. Other stock bonus awards The Restated Plan also permits the award of stock bonuses not subject to any future service period. These awards are valued and expensed based on the closing price of our common stock on the date of award. During the twelve months ended December 31, 2022 we issued 41,000 shares relating to these awards, approximately amounting to $0.8 million of compensation expense. Performance based stock units ("PSUs") In January 2022, we granted certain employees PSUs with a target award of 25,683 shares of our common stock. The PSUs will vest in two equal parts, starting three years from the grant date based on continuous service, with the number of shares earned (0% to 200% of the target award) depending upon the extent to which we achieve a performance condition as determined by the board of directors over the period from January 1, 2022 through December 31, 2022. Performance based stock options ("PSOs") In January 2022, we granted certain employees PSOs to purchase a maximum of 111,925 shares of our common stock. The PSOs will vest in three equal parts, starting three years from the grant date based on continuous service, with the number of shares earned (0 shares to 111,925 shares) depending upon the extent to which we achieve a performance condition as determined by the board of directors over the period from January 1, 2022 through December 31, 2022. Long Term Incentive Plan shares ("LTIPs") In addition, we issue stock-based compensation to certain employees in our AI segment in the form of Stock Units and Restricted Stock Awards, subject to certain restrictions. The awards represent a form of long term incentive and are reflective of a general practice within the software industry. The units and shares vest ratably over a two to four year period, conditioned on continued employment through the vesting periods. We determine the fair value of all LTIPs based on the closing price of our common stock on the award date. The following summarizes all unvested LTIPs activities during the twelve months ended December 31, 2022:
| LTIPs |  | Weighted-Average Remaining Contractual Term (Years) |  | Weighted-Average Fair Value |
LTIPs unvested at December 31, 2021 | — |  |  |  |  | $ | — |  |
Changes during the period |  |  |  |  |  |
Granted | 180,612 |  |  |  |  | $ | 19.56 |  |
Forfeited or Canceled | (11,141) |  |  |  |  | $ | 19.50 |  |
LTIPs unvested at December 31, 2022 | 169,471 |  |  | 2.69 |  | $ | 19.56 |  |
Plan summary In summary, of the 16,500,000 shares of common stock reserved for issuance under the Restated Plan at December 31, 2022, there remain 2,017,233 shares available for future awards.

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