XML 42 R29.htm IDEA: XBRL DOCUMENT v3.23.2

SHARE-BASED PAYMENTS (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The Company’s share-based compensation expense, by type of award, is as follows:

			Three Months Ended June 30,												Six Months Ended June 30,
			2023						2022						2023						2022
RSUs(1)			$	1,162					$	488					$	1,806					$	972
SARs			304						550						740						896
Stock options			88						109						194						141
Total share-based compensation expense(2)			$	1,554					$	1,147					$	2,740					$	2,009

(1)The fair value of the RSUs granted under the Compensation Plan for the three and six months ended June 30, 2023 and 2022 was estimated at the date of grant, using the stated market price on the NYSE American.

(2)Share-based compensation is included in Selling, general and administration in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss).

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

A summary of the Company’s non-vested RSUs activity is as follows:

			Number of Shares						Weighted Average Grant Date Fair Value
Non-vested, December 31, 2022			747,425						$	4.77
Granted			450,232						7.36
Vested			(448,883)						4.24
Forfeited			(7,019)						6.18
Non-vested, June 30, 2023			741,755						$	6.64

A summary of the Company’s SARs activity is as follows:

			Number of Shares						Weighted Average Exercise Price						Weighted Average Remaining Contractual Life (Years)						Intrinsic Value
Outstanding, December 31, 2022			2,452,768						$	4.07
Granted			308,333						7.36
Exercised			(536,094)						2.92
Forfeited			(10,826)						4.74
Expired			—						—
Outstanding, June 30, 2023			2,214,181						$	4.80					2.19						$	3,710
Exercisable, June 30, 2023			556,049						$	2.92					0.56						$	1,846

A summary of the Company’s non-vested SARs activity is as follows:

			Number of Shares						Weighted Average Grant Date Fair Value
Non-vested, December 31, 2022			1,360,625						$	2.81
Granted			308,333						3.45
Vested			—						—
Forfeited			(10,826)						3.25
Non-vested, June 30, 2023			1,658,132						$	2.92

Share-based Payment Arrangement, Restricted Stock Unit, Activity

The fair value of the SARs granted during the six months ended June 30, 2023 was estimated at the date of grant using a Monte Carlo simulation with the following weighted average assumptions:

Risk-free interest rate			3.58		%
Expected life(1)			5.0 years
Expected volatility(2)			55.00		%
Expected dividend yield			—		%
Weighted average grant date fair value			$	3.45

(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.

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of the stock options granted under the Compensation Plan for the six months ended June 30, 2023 was estimated at the date of grant, using the Black-Scholes Option Valuation Model, with the following weighted average assumptions:

Risk-free interest rate			3.90		%
Expected life			3.25 years
Expected volatility(1)			74.21		%
Expected dividend yield			—		%
Weighted average grant date fair value			$	3.92

(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

A summary of the Company’s stock option activity is as follows:

			Range of Exercise Prices						Number of Shares						Weighted Average Exercise Price						Weighted Average Remaining Contractual Life (Years)						Intrinsic Value
Outstanding, December 31, 2022			$1.70 - $8.41						767,678						$	3.24
Granted			5.34 - 7.36						139,211						7.12
Exercised			1.70 - 4.79						(106,757)						3.75
Forfeited			3.89 - 7.36						(29,747)						6.79
Expired			3.89 - 6.47						(7,506)						5.57
Outstanding, June 30, 2023			$1.76 - $8.41						762,879						$	3.74					2.03						$	2,038
Exercisable, June 30, 2023			$1.76 - $8.41						591,144						$	2.82					1.36						$	2,031

A summary of the Company’s non-vested stock option activity is as follows:

			Number of Shares						Weighted Average Grant Date Fair Value
Non-vested, December 31, 2022			140,586						$	4.12
Granted			139,211						3.64
Vested			(78,316)						3.73
Forfeited			(29,747)						3.83
Non-vested, June 30, 2023			171,734						$	3.96

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
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ 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
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ 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
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ 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
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ 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