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Share-based compensation (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangements [Abstract]

Expense associated with each component

			Three months ended September 30,												Nine months ended September 30,
			2022						2021						2022						2021
			$						$						$						$
Stock options			607						443						1,655						1,103
DSUs			233						231						632						488
RSUs			124						—						1,225						—
ESPP			36						71						112						71
			1,000						745						3,624						1,662

Changes in stock options

The changes in the number of stock options during the nine months ended September 30, 2022 and 2021 were as

follows:

			2022												20211
			Number of options						Weighted average exercise price						Number of options						Weighted average exercise price
			#						C$						#						C$
Options outstanding – January 1			1,283,088						12.00						1,516,641						6.73
Options granted1			168,588						44.91						115,969						53.19
Options forfeited			(63,415)						46.41						(28,736)						14.84
Options exercised			(9,179)						14.52						(147,025)						3.37
Options outstanding – September 30			1,379,082						14.42						1,456,849						10.61
Options exercisable – September 30			887,779						4.06						814,367						2.54

1 In March 2021, the Company granted stock options to certain executives. Subsequently, the Company identified an error in determining the expected life and volatility inputs used in the Black-Scholes pricing model to calculate the fair value of options, which led to the Company determining that 63,992 excess options were granted in March 2021 to six senior executives (the “Awardees”). The granting of excess options was immaterial to the Company but the error resulted in an award of options to the Awardees that was not reasonable and appropriate to grant. During 2021, the Company amended and restated the option award agreements for those affected Awardees to reflect the issuance of the appropriate number of options.

Stock options outstanding and exercisable by range of exercise prices

The following table is a summary of the Company’s stock options outstanding as at September 30, 2022:

Options outstanding																		Options exercisable
Exercise price range						Number outstanding						Weighted average remaining contractual life (years)						Exercise price range						Number exercisable
C$						#						#						C$						#
0.0001 - 1.09						784,368						4.71						0.0001 - 1.09						748,368
8.86 - 11.06						51,811						8.20						8.86 - 11.06						21,084
15.79 - 16.00						268,499						7.03						15.79 - 16.00						95,969
26.43 - 95.12						274,404						9.26						26.43 - 95.12						22,358
						1,379,082						6.19												887,779

The following table is a summary of the Company’s stock options outstanding as at September 30, 2021:

Options outstanding																		Options exercisable
Exercise price range						Number outstanding						Weighted average remaining contractual life (years)						Exercise price range						Number exercisable
C$						#						#						C$						#
0.0001 - 1.09						784,368						5.70						0.0001 - 1.09						695,968
8.86 - 11.06						190,522						9.21						8.86 - 11.06						59,784
15.79 - 16.00						341,701						8.03						15.79 - 16.00						57,529
26.43 - 69.48						140,258						9.45						26.43 - 69.48						1,086
						1,456,849						7.17												814,367

Number and weighted average remaining contractual life of stock options outstanding and exercisable

The following table is a summary of the Company’s stock options outstanding as at September 30, 2022:

Options outstanding																		Options exercisable
Exercise price range						Number outstanding						Weighted average remaining contractual life (years)						Exercise price range						Number exercisable
C$						#						#						C$						#
0.0001 - 1.09						784,368						4.71						0.0001 - 1.09						748,368
8.86 - 11.06						51,811						8.20						8.86 - 11.06						21,084
15.79 - 16.00						268,499						7.03						15.79 - 16.00						95,969
26.43 - 95.12						274,404						9.26						26.43 - 95.12						22,358
						1,379,082						6.19												887,779

The following table is a summary of the Company’s stock options outstanding as at September 30, 2021:

Options outstanding																		Options exercisable
Exercise price range						Number outstanding						Weighted average remaining contractual life (years)						Exercise price range						Number exercisable
C$						#						#						C$						#
0.0001 - 1.09						784,368						5.70						0.0001 - 1.09						695,968
8.86 - 11.06						190,522						9.21						8.86 - 11.06						59,784
15.79 - 16.00						341,701						8.03						15.79 - 16.00						57,529
26.43 - 69.48						140,258						9.45						26.43 - 69.48						1,086
						1,456,849						7.17												814,367

Number of DSUs and RSUs granted

DSUs

The following table presents information concerning the number of DSUs granted by the Company:

			#
DSUs – December 31, 2021			59,654
Granted (at C$38.97 - $86.93 per unit)			25,372
DSUs - September 30, 2022			85,026

RSUs

The following table presents information concerning the number of RSUs granted by the Company:

			#
RSUs – December 31, 2021			46,591
Granted (at C$40.30 - $54.26 per unit)			97,816
Released (at C$94.05 per unit)			(2,800)
Forfeited (at C$86.38 - $94.05 per unit)			(30,222)
RSUs - September 30, 2022			111,385

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Share-Based Payment Arrangements [Abstract]

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The disclosure of the number and weighted average exercise prices of other equity instruments (ie other than share options).

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