XML 42 R32.htm IDEA: XBRL DOCUMENT
v3.22.1

Stock Based Compensation (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
Schedule of Share-Based Compensation Expense | The following table summarizes the stock-based compensation expense recognized under all of the Company’s stock plans for the three months ended March 31, 2022 and 2021, and associated with the issuance of restricted shares of common stock and vesting of stock options, which are included in general and administrative expenses in the accompanying consolidated statements of income (in thousands):
| Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |
Stock options | $ | 780 |  |  | $ | 589 |  |  |  |  |
Restricted stock | 2,275 |  |  | 757 |  |  |  |  |
Total stock-based compensation expense | $ | 3,055 |  |  | $ | 1,346 |  |  |  |  |
Schedule of Stock Option Transactions Under Stock Option Plans | The Company’s outstanding stock options consisted of the following:
| Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (in millions)
Options outstanding at January 1, 2022 | 813,965 |  |  | $ | 22.74 |  |  | 3.20 |  | $ | 41.6 |
Options granted | 75,271 |  |  | 55.07 |  |  | — |  |  | — |
Options exercised | (38,500) |  |  | 17.37 |  |  | — |  |  | 0.9 |
Options forfeited | — |  |  | — |  |  | — |  |  | — |
Options outstanding at March 31, 2022 | 850,736 |  |  | $ | 25.84 |  |  | 2.94 |  | $ | 22.8 |
Options exercisable at March 31, 2022 | 591,725 |  |  | $ | 9.33 |  |  | 1.79 |  | $ | 20.7 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | During the three months ended March 31, 2022, the Company granted 75,271 stock options to certain ApolloMed employees and Board members. The options granted during the three months ended March 31, 2022 were recognized at fair value, as determined using the Black-Scholes option pricing model as follows:
March 31, 2022 |
Expected term | 2.00 years - 2.25 years
Expected volatility | 71.47% - 75.15%
Risk-free interest rate | 1.02% - 1.06%
Market value of common stock | $20.23 - $22.73
Annual dividend yield | 0 | %
Forfeiture rate | 0 | %
Schedule of Outstanding Warrants | The Company’s outstanding warrants consisted of the following:
| Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (in millions)
Warrants outstanding at January 1, 2022 | 1,001,740 |  |  | 10.49 |  |  | 0.94 |  | 63.1 |
Warrants granted | — |  |  | — |  |  | — |  |  | — |
Warrants exercised | (86,235) |  |  | 10.49 |  |  | — |  |  | 3.6 |
Warrants expired/forfeited | — |  |  | — |  |  | — |  |  | — |
Warrants outstanding at March 31, 2022 | 915,505 |  |  | $ | 10.49 |  |  | 0.69 |  | $ | 34.8 |
Exercise Price Per Share |  | Warrants Outstanding |  | Weighted Average Remaining Contractual Life |  | Warrants Exercisable |  | Weighted Average Exercise Price Per Share
$ | 10.00 |  |  | 470,827 |  | 0.69 |  | 470,827 |  |  | $ | 10.00 |
11.00 |  |  | 444,678 |  | 0.69 |  | 444,678 |  |  | $ | 11.00 |
$ 10.00 – 11.00 |  | 915,505 |  |  | 0.69 |  | 915,505 |  |  | $ | 10.49 |

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 allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
Name: | us-gaap_ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration