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Equity (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Schedule of Series B Preferred Stock

The below table illustrates changes in the Company’s balance of Series B Preferred Stock for the nine months ended September 30, 2021 (in thousands, except share amounts):

			Series B Preferred Stock
			Shares						Amount
Balance at December 31, 2020			100,000						$	91,568
Deemed dividends			—						926
Balance at September 30, 2021			100,000						$	92,494

Summary of Restricted Stock Awards by Award Type

The below table summarizes activity of unvested restricted stock awards by award type from January 1, 2022 through September 30, 2022. Unvested RSAs noted below are included in issued and outstanding common stock as of September 30, 2022, while unvested RSUs and unvested PSUs are not included in issued or outstanding common stock as of September 30, 2022.

			RSA									RSU									PSU
			Number of Shares			Weighted-Average Grant Date  Fair Value						Number of Shares			Weighted-Average Grant Date  Fair Value						Number of Shares			Weighted-Average Grant Date  Fair Value
Unvested at January 1, 2022			877,197			$	4.26					4,228,919			$	8.64					—			$	—
Granted			—			—						4,181,885			4.82						441,964			4.62
Vested			(703,405)			3.77						(1,713,078)			8.34						—			—
Forfeited			(5,338)			5.11						(1,274,985)			6.40						(200,893)			4.62
Unvested at September 30, 2022			168,454			$	6.32					5,422,741			$	6.32					241,071			$	4.62

Schedule of Total Shareholder Return Performance Stock Units Assumptions

The assumptions used in determining the fair value of these PSUs were as follows:

			Assumption
Risk-free interest rate			2.68		%
Expected term (years)			2.74
Expected volatility (annualized)			63.7		%
Dividend yield			—		%
Closing stock price on grant date			$	4.62
Grant date fair value			$	2.78

Summary of Stock Options Activity

A summary of stock option activity for the nine months ended September 30, 2022 is presented below:

			Number of Shares						Weighted- Average Exercise Price						Weighted- Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value
Outstanding at January 1, 2022			1,444,845						$	5.18
Granted			—						—
Exercised			(285,001)						2.01
Unvested options forfeited			—						—
Vested options expired			(109,500)						4.00
Outstanding at September 30, 2022			1,050,344						6.14						1.07						700
Exercisable at September 30, 2022			1,050,344						$	6.14					1.07						$	700

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Schedule of Share-Based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions

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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.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

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