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STOCK-BASED COMPENSATION | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION Stock Incentive Plans We have one long-term incentive plan that we adopted in 2006 and which we have amended and restated at various points in time: April 20, 2015, March 9, 2017, April 15, 2021 April 27, 2023, and most recently by our stockholders at our annual stockholders meeting on June 7, 2023 (the “Restated Plan”). We have reserved 20,100,000 shares of common stock for issuance under the Restated Plan which can be issued in the form of incentive and/or nonstatutory stock options, restricted and/or unrestricted stock, stock units, and stock appreciation rights. Our stock-based compensation consists of various types of awards, each accounted for separately. There is no overlap between Options, DeepHealth options, Restricted stock awards (RSAs) and Restricted stock units (RSUs), performance stock units (PSUs), and performance stock options (PSOs). 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 one to five years and expire five to ten years from the date of grant. The following summarizes all of our incentive stock option transactions for the year ended December 31, 2024:
Outstanding Options Under the Restated Plan |  | Shares |  | Weighted Average Exercise price Per Common Share |  | Weighted Average Remaining Contractual Life(in years) |  | Aggregate Intrinsic Value
Balance, December 31, 2023 |  | 911,411 |  |  | $ | 16.60 |  |  |  |  |
Exercised |  | (70,494) |  |  | 9.52 |  |  |  |  |
Balance, December 31, 2024 |  | 840,917 |  |  | 17.19 |  |  | 5.42 |  | $ | 44,272,405 |
Exercisable at December 31, 2024 |  | 719,618 |  |  | 16.43 |  |  | 5.03 |  | 38,431,513 |
Aggregate intrinsic value in the table above represents the total pretax intrinsic value (the difference between our closing stock price on December 31, 2024 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, 2024. As of December 31, 2024, total unrecognized stock-based compensation expense related to non-vested employee awards was $0.2 million which is expected to be recognized over a weighted average period of approximately 0.14 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.
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, 2023 |  | 79,073 |  |  |  |  |  |  |
Exercised |  | (10,427) |  |  | — |  |  |  |  |
Balance, December 31, 2024 |  | 68,646 |  |  | — |  |  | 4.78 |  | $ | 4,794,237 |
Exercisable at December 31, 2024 |  | 68,646 |  |  | — |  |  | 4.78 |  | 4,794,237 |
Options issued in replacement of original DeepHealth options as a result of our acquisition are not included in the share count under the Restated Plan. Restricted Stock Awards (“RSA’s”) and Restricted Stock Units ("RSUs") The Restated Plan permits the award of RSAs and RSUs. The following summarizes all unvested RSA and RSU activities during for the year ended December 31, 2024:
| RSA's & RSU's |  | Weighted-Average Remaining Contractual Term (Years) |  | Weighted-Average Fair Value
RSA's and RSU's unvested at December 31, 2023 | 762,083 |  |  |  |  | $ | 22.13 |
Changes during the period |  |  |  |  |
Granted | 900,722 |  |  |  |  | $ | 40.80 |
Vested | (935,677) |  |  |  |  | $ | 29.96 |
Forfeited | (39,473) |  |  |  |  | $ | 25.28 |
RSA's and RSU's unvested at December 31, 2024 | 687,655 |  |  | 1.72 |  | $ | 35.31 |
We determine the fair value of all RSA’s and RSU's based on the closing price of our common stock on the grant date. 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 with a fair value of $29.44. 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. In January of 2023, based on the performance condition achieved, the board of directors issued 12,843 shares. In January 2023, we granted certain employees PSUs with a target award of 60,685 shares of our common stock with a fair value of $18.64. The PSUs will vest in five 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, 2023 through December 31, 2023. In March of 2024, based on the performance condition being achieved, the board of directors issued 121,370 shares. In October 2024, we granted certain employees PSUs with a target award of 35,522 shares of our common stock. The PSUs will vest in five equal parts, on each anniversary of the grant date based on continuous service, with the number of shares earned (0% to 100% of the target award) depending upon the extent to which we achieve a performance condition determined by the management no later than the seventh anniversary of the grant date. As of December 31, 2024, based on the performance to date, all 35,522 shares are expected to vest. 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 with a strike price of $29.44. 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. In January of 2023, based on the performance condition achieved, the board of directors issued 27,981 options. In January 2023, we granted certain employees PSOs with a potential to purchase a maximum of 235,227 shares of our common stock with a strike price of $18.64. 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 235,227 shares) depending upon the extent to which we achieve a performance condition as determined by the board of directors over the period January 1, 2023 through December 31, 2023. In March 2024, based on the performance condition being achieved, the board of directors issued 235,227 options. Plan summary In summary, of the 20,100,000 shares of common stock reserved for issuance under the Restated Plan at December 31, 2024, there remain 3,172,578 shares available for future issuance.

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