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SHARE-BASED COMPENSATION (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
Schedule of share-based compensation expense | The following table displays share-based compensation expense recorded in the condensed consolidated statements of operations and comprehensive loss:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2022 |  | 2021
|  |  |  |  | (dollars in millions)
Share-based compensation expense: |  |  |  |  |  |  |
Loss and loss adjustment expenses |  |  |  |  | $ | 0.2 |  |  | $ | 0.1 |
Sales and marketing |  |  |  |  | 0.1 |  |  | — |
Other insurance expense |  |  |  |  | 0.2 |  |  | 0.1 |
Technology and development |  |  |  |  | 0.7 |  |  | 0.3 |
General and administrative |  |  |  |  | 5.4 |  |  | 1.8 |
Total share-based compensation expense |  |  |  |  | $ | 6.6 |  |  | $ | 2.3 |
The following table provides total share-based compensation expense by type of award:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2022 |  | 2021
|  |  |  |  | (dollars in millions)
Share-based compensation expense: |  |  |  |  |  |  |
Restricted stock unit expense |  |  |  |  | $ | 6.1 |  |  | $ | 0.6 |
Stock option expense |  |  |  |  | 0.5 |  |  | 1.7 |
Total share-based compensation expense |  |  |  |  | $ | 6.6 |  |  | $ | 2.3 |
Summary of RSU activity | A summary of RSU activity for the three months ended March 31, 2022 is as follows:
|  | Three Months Ended March 31, 2022
Restricted Stock Units |  | Number of Shares |  | Weighted-Average Grant Date Fair Value per Share |  | Aggregate Intrinsic Value
|  | (in millions, except per share amounts)
Nonvested at January 1, 2022 |  | 8.9 |  |  | $ | 9.02 |  |  | $ | 27.4 |
Granted |  | 2.4 |  |  | 1.68 |  |  |
Vested |  | (0.9) |  |  | 10.48 |  |  | 2.0 |
Forfeited, expired or canceled |  | (1.8) |  |  | 8.68 |  |  |
Nonvested at March 31, 2022 |  | 8.6 |  |  | $ | 6.29 |  |  | $ | 16.8 |
Summary of option activity | A summary of option activity for the three months ended March 31, 2022 is as follows:
| Three Months Ended March 31, 2022
Options | Number of Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term (in Years) |  | Aggregate Intrinsic Value
| (in millions, except exercise price and term amounts)
Outstanding and exercisable at January 1, 2022 | 6.5 |  |  | $ | 2.36 |  |  | 6.12 |  | $ | 9.5 |
Granted | — |  |  | — |  |  |  |  |
Exercised | (1.0) |  |  | 0.35 |  |  |  |  | 1.8 |
Forfeited, expired or canceled | (0.3) |  |  | 6.04 |  |  |  |  |
Outstanding and exercisable at March 31, 2022 | 5.2 |  |  | $ | 2.56 |  |  | 5.89 |  | $ | 2.9 |

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