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SHARE-BASED PAYMENTS (Tables)

9 Months Ended

Sep. 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 September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
RSUs(1)			$	523					$	618					$	2,329					$	1,589
SARs			653						566						1,393						1,463
Stock options			117						98						311						239
Total share-based compensation expense(2)			$	1,293					$	1,282					$	4,033					$	3,291

(1)The fair value of the RSUs granted under the Compensation Plan for the three and nine months ended September 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 unvested RSUs activity is as follows:

			Number of Shares						Weighted Average Grant Date Fair Value
Unvested, December 31, 2022			747,425						$	4.77
Granted			450,232						7.36
Vested			(448,883)						4.24
Forfeited			(51,329)						7.23
Unvested, September 30, 2023			697,445						$	6.60

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			(546,636)						2.92
Forfeited			(42,510)						7.24
Expired			—						—
Outstanding, September 30, 2023			2,171,955						$	4.76					1.91						$	7,508
Exercisable, September 30, 2023			545,507						$	2.92					0.31						$	2,891

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

			Number of Shares						Weighted Average Grant Date Fair Value
Unvested, December 31, 2022			1,360,625						$	2.81
Granted			308,333						3.45
Vested			—						—
Forfeited			(42,510)						3.68
Unvested, September 30, 2023			1,626,448						$	2.91

Share-based Payment Arrangement, Restricted Stock Unit, Activity

The fair value of the SARs granted during the nine months ended September 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 nine months ended September 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			3.92		%
Expected life			3.25 years
Expected volatility(1)			74.10		%
Expected dividend yield			—		%
Weighted average grant date fair value			$	3.90

(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						142,782						7.10
Exercised			1.70 - 6.47						(250,203)						3.09
Forfeited			3.89 - 7.36						(31,014)						6.76
Expired			1.76 - 6.47						(16,720)						3.75
Outstanding, September 30, 2023			$1.76 - $8.41						612,523						$	4.04					2.15						$	2,572
Exercisable, September 30, 2023			$1.76 - $8.41						441,245						$	3.09					1.39						$	2,351

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

			Number of Shares						Weighted Average Grant Date Fair Value
Unvested, December 31, 2022			140,586						$	4.12
Granted			142,782						3.63
Vested			(81,077)						3.71
Forfeited			(31,014)						3.81
Unvested, September 30, 2023			171,277						$	3.96

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