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Stock-Based Compensation | 6 Months Ended
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Jun. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | STOCK-BASED COMPENSATION The Company applies the fair value recognition provisions of ASC Topic 718: Stock Compensation. Stock-based compensation expense, net of forfeitures of $0.2 million and $0.1 million for the three months ended June 30, 2022 and 2021, respectively, and $0.8 million and $0.1 million for the six months ended June 30, 2022 and 2021, respectively, was recorded in the following line items in the condensed consolidated statements of operations.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Cost of sales - contracts | $ | 36 |  |  | $ | 116 |  |  | $ | 85 |  |  | $ | 184 |
Selling, general and administrative | 3,195 |  |  | 4,135 |  |  | 6,682 |  |  | 5,387 |
Total stock-based compensation expense | $ | 3,231 |  |  | $ | 4,251 |  |  | $ | 6,767 |  |  | $ | 5,571 |
At June 30, 2022, the aggregate unrecognized compensation expense related to unvested equity awards was $25.3 million, which is expected to be recognized as compensation expense in fiscal years 2022 through 2025. A summary of stock option activity for the six months ended June 30, 2022 is below:
(in thousands, except for weighted average exercise price) | Options outstanding |  | Weighted average exercise price
Outstanding at January 1, 2022 | 1,306 |  |  | $ | 11.95 |
Exercised | (112) |  |  | 7.74 |
Canceled/forfeited | (126) |  |  | 10.48 |
Outstanding at June 30, 2022 | 1,068 |  |  | $ | 12.89 |
A summary of unvested restricted stock awards activity for the six months ended June 30, 2022 is below:
(in thousands, except for weighted average award value) | Restricted Stock Awards |  | Weighted average award value
Outstanding at January 1, 2022 | 27 |  |  | $ | 25.42 |
Vested | (27) |  |  | 25.42 |
Outstanding at June 30, 2022 | — |  |  |
A summary of unvested restricted stock units activity for the six months ended June 30, 2022 is below:
(in thousands, except for weighted average award value) | Restricted Stock Unit Awards |  | Weighted average award value
Outstanding at January 1, 2022 | 418 |  |  | $ | 34.08 |
Granted | 359 |  |  | 38.04 |
Vested | (107) |  |  | 31.67 |
Canceled/forfeited | (79) |  |  | 48.23 |
Outstanding at June 30, 2022 | 591 |  |  | $ | 34.92 |

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