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SHARE-BASED PAYMENTS (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Deferred Compensation Arrangement with Individual, Share-Based Payments | The Company’s share-based compensation expense, by type of award, is as follows:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
RSUs(1) | $ | 2,595 |  |  | $ | 2,244 |  |  | $ | 1,562 |
SARs | 1,583 |  |  | 2,038 |  |  | 273 |
Stock options | 447 |  |  | 359 |  |  | 323 |
Total share-based compensation expense(2) | $ | 4,625 |  |  | $ | 4,641 |  |  | $ | 2,158 |
(1)The fair value of the RSUs granted under the Compensation Plan for the years ended December 31, 2023, 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 Consolidated Statements of Operations and Comprehensive Income (Loss).
Share-Based Payment Arrangement, Restricted Stock Unit, Activity | A summary of the Company’s RSU unvested activity is as follows:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Unvested, December 31, 2020 | 1,094,056 |  |  | $ | 1.98 |
Granted | 441,241 |  |  | 3.89 |
Vested | (635,233) |  |  | 1.94 |
Forfeited | — |  |  | — |
Unvested, December 31, 2021 | 900,064 |  |  | $ | 2.94 |
Granted | 411,467 |  |  | 6.52 |
Vested | (518,856) |  |  | 2.93 |
Forfeited | (45,250) |  |  | 5.40 |
Unvested, December 31, 2022 | 747,425 |  |  | $ | 4.77 |
Granted | 450,232 |  |  | 7.36 |
Vested | (448,883) |  |  | 4.24 |
Forfeited | (106,935) |  |  | 7.03 |
Unvested, December 31, 2023 | 641,839 |  |  | $ | 6.57 |
Share-Based Payment Arrangement, Stock Appreciation Right, Valuation Assumptions | The following table with the following weighted average assumptions used to determine fair values:
| Years Ended December 31,
| 2023 |  | 2022 |  |
Risk-free interest rate | 3.58 | % |  | 1.68 | % |  |
Expected life (in years)(1) | 5.00 years |  | 4.98 years |  |
Expected volatility(2) | 55.00 | % |  | 72.81 | % |  |
Expected dividend yield | — | % |  | — | % |  |
Weighted average grant date fair value | $ | 3.45 |  |  | $ | 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.
Share-based Payment Arrangement, Stock Appreciation Right, Activity | 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, 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, December 31, 2022 | 2,452,768 |  |  | $ | 4.07 |  |  |  |  |
Granted | 308,333 |  |  | 7.36 |  |  |  |  |
Exercised | (842,107) |  |  | 2.92 |  |  |  |  |
Forfeited | (79,466) |  |  | 7.30 |  |  |  |  |
Expired | — |  |  | — |  |  |  |  |
Outstanding, December 31, 2023 | 1,839,528 |  |  | $ | 5.01 |  |  | 1.86 |  | $ | 4,056
Exercisable, December 31, 2023 | 250,036 |  |  | $ | 2.92 |  |  | 0.06 |  | $ | 1,068
A summary of the Company’s unvested SARs activity is as follows:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Unvested, December 31, 2020 | 1,720,623 |  |  | $ | 1.25 |
Granted | — |  |  | — |
Vested | (1,147,074) |  |  | 1.27 |
Forfeited | — |  |  | — |
Unvested, December 31, 2021 | 573,549 |  |  | $ | 1.19 |
Granted | 833,315 |  |  | 3.99 |
Vested | — |  |  | — |
Forfeited | (46,239) |  |  | 4.13 |
Unvested, December 31, 2022 | 1,360,625 |  |  | $ | 2.81 |
Granted | 308,333 |  |  | 3.45 |
Vested | — |  |  | — |
Forfeited | (79,466) |  |  | 3.58 |
Unvested, December 31, 2023 | 1,589,492 |  |  | $ | 2.89 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of the stock options granted under the Compensation Plan is estimated at the date of grant, using the Black-Scholes Option Valuation Model, with the following weighted average assumptions:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Risk-free interest rate | 3.98 | % |  | 2.43 | % |  | 0.44 | %
Expected life (in years) | 3.2 years |  | 3.2 years |  | 5.0 years
Expected volatility(1) | 74.00 | % |  | 73.21 | % |  | 61.96 | %
Expected dividend yield | — | % |  | — | % |  | — | %
Weighted average grant date fair value | $ | 3.80 |  |  | $ | 4.93 |  |  | $ | 2.06 |
(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, 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 |  | 118,318 |  |  | 6.52 |  |  |  |  |
Exercised | 1.70 - 5.46 |  | (256,315) |  |  | 2.93 |  |  |  |  |
Forfeited | 3.06 - 10.03 |  | (20,700) |  |  | 5.91 |  |  |  |  |
Expired | 1.76 - 5.18 |  | (16,507) |  |  | 2.52 |  |  |  |  |
Outstanding, December 31, 2022 | $1.70 - $8.41 |  | 767,678 |  |  | $ | 3.24 |  |  |  |  |
Granted | 5.34 - 8.60 |  | 153,299 |  |  | 7.20 |  |  |  |  |
Exercised | 1.70 - 6.47 |  | (348,538) |  |  | 2.83 |  |  |  |  |
Forfeited | 3.89 - 7.36 |  | (32,250) |  |  | 6.74 |  |  |  |  |
Expired | 1.76 - 6.47 |  | (16,720) |  |  | 3.75 |  |  |  |  |
Outstanding, December 31, 2023 | $1.76 - $8.60 |  | 523,469 |  |  | $ | 4.48 |  |  | 2.31 |  | $ | 1,448
Exercisable, December 31, 2023 | $1.76 - $8.41 |  | 354,286 |  |  | $ | 3.24 |  |  | 1.55 |  | $ | 1,400
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, 2020 | 403,990 |  |  | $ | 0.94 |
Granted | 169,310 |  |  | 2.06 |
Vested | (351,934) |  |  | 1.23 |
Forfeited | (8,049) |  |  | 1.60 |
Unvested, December 31, 2021 | 213,317 |  |  | $ | 1.34 |
Granted | 118,318 |  |  | 4.93 |
Vested | (170,349) |  |  | 1.15 |
Forfeited | (20,700) |  |  | 4.54 |
Unvested, December 31, 2022 | 140,586 |  |  | $ | 4.12 |
Granted | 153,299 |  |  | 3.71 |
Vested | (92,453) |  |  | 3.57 |
Forfeited | (32,250) |  |  | 3.78 |
Unvested, December 31, 2023 | 169,182 |  |  | $ | 4.11 |

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- Definition Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 710 -SubTopic 10 -Name Accounting Standards Codification -Section 30 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483043/710-10-30-1 Reference 2: 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 3: 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 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 710 -SubTopic 10 -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482943/710-10-55-8 + Details
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- 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
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock appreciation rights awards that were outstanding at the beginning and end of the year, and the number of stock appreciation rights awards that were granted, exercised or converted, forfeited, and expired 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
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- 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
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