XML 39 R26.htm IDEA: XBRL DOCUMENT
v3.22.2.2

SHARE-BASED PAYMENTS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of the stock options granted under the Compensation Plan for the nine months ended September 30, 2022 was estimated at the date of grant, using the Black-Scholes Option Valuation Model, with the following weighted average assumptions:
Risk-free interest rate | 2.37 | %
Expected life (in years) | 3.18
Expected volatility(1) | 73.14 | %
Expected dividend yield | — | %
Weighted average grant date fair value | $ | 4.98 |
(1)Expected volatility is measured based on the Company’s historical share price volatility over a period equivalent to the expected life of the stock options.
Schedule of Share-based Compensation, Stock Options, Activity | The summary of the Company’s stock options at September 30, 2022 and December 31, 2021, respectively, and the changes for the fiscal periods ending on those dates, are presented below:
| Range of Exercise Prices |  | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Intrinsic Value
Outstanding, December 31, 2020 | $1.70 - $15.61 |  | 1,609,087 |  |  | $ | 2.91 |  |  |  |  |
Granted | 3.89 - 8.41 |  | 169,310 |  |  | 3.99 |  |  |  |  |
Exercised | 1.70 - 7.42 |  | (775,814) |  |  | 2.95 |  |  |  |  |
Forfeited | 1.76 - 5.91 |  | (8,048) |  |  | 3.16 |  |  |  |  |
Expired | 1.70 - 15.61 |  | (51,653) |  |  | 8.14 |  |  |  |  |
Outstanding, December 31, 2021 | $1.70 - $8.41 |  | 942,882 |  |  | $ | 2.79 |  |  |  |  |
Granted | 5.84 - 10.03 |  | 114,785 |  |  | 6.51 |  |  |  |  |
Exercised | 1.70 - 5.46 |  | (189,035) |  |  | 2.49 |  |  |  |  |
Forfeited | 3.06 - 10.03 |  | (19,918) |  |  | 5.87 |  |  |  |  |
Expired | 2.35 |  | (15,506) |  |  | 2.35 |  |  |  |  |
Outstanding, September 30, 2022 | $1.70 - $8.41 |  | 833,208 |  |  | $ | 3.30 |  |  | 2.07 |  | $ | 2,384 |
Exercisable, September 30, 2022 | $1.70 - $7.14 |  | 695,323 |  |  | $ | 2.80 |  |  | 1.67 |  | $ | 2,307 |
The summary of the Company’s non-vested stock options at September 30, 2022 and December 31, 2021, respectively, and the changes for the fiscal periods ending on those dates, are presented below:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Non-vested, December 31, 2020 | 403,990 |  |  | $ | 0.94 |
Granted | 169,310 |  |  | 2.06 |
Vested | (351,934) |  |  | 1.23 |
Forfeited | (8,049) |  |  | 1.60 |
Non-vested, December 31, 2021 | 213,317 |  |  | $ | 1.34 |
Granted | 114,785 |  |  | 4.98 |
Vested | (170,299) |  |  | 1.15 |
Forfeited | (19,918) |  |  | 4.58 |
Non-vested, September 30, 2022 | 137,885 |  |  | $ | 4.13 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | The summary of the Company’s non-vested RSUs at September 30, 2022 and December 31, 2021, respectively, and the changes for the fiscal periods ending on those dates, are presented below:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Non-vested, December 31, 2020 | 1,094,056 |  |  | $ | 1.98 |
Granted | 441,241 |  |  | 3.89 |
Vested | (635,233) |  |  | 1.94 |
Non-vested, December 31, 2021 | 900,064 |  |  | $ | 2.94 |
Granted | 411,467 |  |  | 6.52 |
Vested | (518,856) |  |  | 2.93 |
Forfeited | (45,250) |  |  | 5.40 |
Non-vested, September 30, 2022 | 747,425 |  |  | $ | 4.77 |
The summary of the Company’s SARs at September 30, 2022 and December 31, 2021, respectively, and the changes for the fiscal periods ending on those dates, are presented below:
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Intrinsic Value
Outstanding, December 31, 2020 | 1,720,623 |  |  | $ | 2.92 |  |  |  |  |
Exercised | (48,201) |  |  | 2.92 |  |  |  |  |
Outstanding, December 31, 2021 | 1,672,422 |  |  | $ | 2.92 |  |  |  |  |
Granted | 833,315 |  |  | 6.47 |  |  |  |  |
Exercised | (6,730) |  |  | 2.92 |  |  |  |  |
Forfeited | (46,239) |  |  | 5.95 |  |  |  |  |
Outstanding, September 30, 2022 | 2,452,768 |  |  | $ | 4.07 |  |  | 2.29 |  | $ | 5,309
Exercisable, September 30, 2022 | 1,092,143 |  |  | $ | 2.92 |  |  | 1.31 |  | $ | 3,495
The summary of the Company’s non-vested SARs at September 30, 2022 and December 31, 2021, respectively, and the changes for the fiscal periods ending on those dates, are presented below:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Non-vested, December 31, 2020 | 1,720,623 |  |  | $ | 1.25 |
Vested | (1,147,074) |  |  | 1.27 |
Non-vested, December 31, 2021 | 573,549 |  |  | $ | 1.19 |
Granted | 833,315 |  |  | 3.99 |
Forfeited | (46,239) |  |  | 4.13 |
Non-vested, September 30, 2022 | 1,360,625 |  |  | $ | 2.81 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | The components of share-based compensation are as follows:
| Three months ended September 30, |  | Nine months ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Recognized expense |  |  |  |  |  |  |
Stock options | $ | 98 |  |  | $ | 42 |  |  | $ | 239 |  |  | $ | 281 |
RSU awards(1) | 618 |  |  | 409 |  |  | 1,589 |  |  | 1,162 |
SARs | 566 |  |  | 62 |  |  | 1,463 |  |  | 260 |
Total recognized expense(2) | $ | 1,282 |  |  | $ | 513 |  |  | $ | 3,291 |  |  | $ | 1,703 |
(1)The fair value of the RSUs granted under the Compensation Plan for the nine months ended September 30, 2022 and 2021 was estimated at the date of grant, using the stated market price on the NYSE American. (2)Share-based compensation is recorded in Selling, General and Administration in the Condensed Consolidated Statement of Operations and Comprehensive Loss.
Share-based Payment Arrangement, Restricted Stock Unit, Activity | The fair value of the SARs granted during the nine months ended September 30, 2022 was estimated at the date of grant using a Monte Carlo simulation, with the following weighted average assumptions:
Risk-free interest rate | 1.68 | %
Expected life (in years)(1) | 4.98
Expected volatility(2) | 72.81 | %
Expected dividend yield | — | %
Weighted average grant date fair value | $ | 3.99 |
(1)Monte Carlo analysis of SARs assumes employee suboptimal exercise at first vesting time for each tranche. (2)Expected volatility is measured based on the Company’s historical share price volatility over a period equivalent to the expected life of the SARs.

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

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration