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STOCK-BASED COMPENSATION (Tables) - 2015 EIP Plan

9 Months Ended

Sep. 30, 2023

Employee Stock Option [Member]

Stock Awards

Schedule of stock option activity

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	Weighted		​	Weighted		​	​	​
​	​	Number	​	Average		​	Average		​	​	​
​	​	of	​	Exercise		​	Fair		​	​	​
​		Options		Price			Value			​	​
Outstanding as of January 1, 2023		415,227		$	7.91	​	$	2.78	​	​	​
Granted		—	​	​	—	​	​	—	​	​	​
Exercised		(47,037)	​	​	7.70	​	​	2.53	​	​	​
Forfeited		—	​	​	—	​	​	—	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​
Outstanding as of September 30, 2023		368,190		$	7.93	​	$	2.82	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​
Exercisable as of September 30, 2023		335,729		$	7.74	​	$	2.67	​	​	​

​

The following table summarizes certain information about the options outstanding as of September 30, 2023:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Options Outstanding and Unvested,

​

Options Outstanding and Exercisable,

​

​

​

​

September 30, 2023

​

September 30, 2023

​

Weighted

​

​

​

​

​

​

Weighted

​

​

​

​

​

Weighted

​

Average

​

​

Weighted

​

Average

​

​

​

Weighted

​

Average

​

Exercise Price of

​

​

Average

​

Remaining

​

​

​

Average

​

Remaining

​

Outstanding

​

Number of

​

Exercise

​

Contractual

​

Number of

​

Exercise

​

Contractual

​

Options

Options

Price

Life

Options

Price

Life

$

7.93

​

32,461

​

$

9.91

​

3.40

​

335,729

​

$

7.74

​

2.50

​

​

Schedule of nonvested stock amortization expense

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Three Months Ended

​

For the Nine Months Ended

​

​

​

September 30,

​

September 30,

​

​

​

2023

​

2022

​

2023

2022

General and administrative expenses

​

$

13

​

$

55

​

$

71

​

$

223

​

Restricted Stock Units

Stock Awards

Summary of nonvested restricted stock units

​

​	​	​	​	​	​	​
​	​	​	​	Weighted		​
​	​	Number of	​	Average Grant		​
​		RSUs	​	Date Price		​
Outstanding as of January 1, 2023	​	641,972	​	$	15.74	​
Granted	​	211,441	​	​	16.27	​
Vested	​	(230,842)	​	​	14.35	​
Forfeited	​	(49,322)	​	​	16.42	​
​	​	​	​	​	​	​
Outstanding as of September 30, 2023	​	573,249	​	$	16.43	​

​

The total fair value of the RSUs that vested during the nine months ended September 30, 2023 and 2022 was $4,075 and $3,837, respectively. The total fair value is calculated as the number of shares vested during the period multiplied by the fair value on the vesting date.

​

The following table summarizes certain information of the RSUs unvested and vested as of September 30, 2023:

​

​	​	​	​	​	​	​	​	​	​	​	​
Unvested RSUs						​	Vested RSUs				​
September 30, 2023						​	September 30, 2023				​
​	​	​		​	Weighted	​	​	​	​		​
​	​	Weighted		​	Average	​	​	​	Weighted		​
​	​	Average		​	Remaining	​	​	​	Average		​
Number of	​	Grant Date		​	Contractual	​	Number of	​	Grant Date		​
RSUs		Price			Life		RSUs		Price
573,249	​	$	16.43	​	1.61	​	288,158	​	$	12.35	​

​

Schedule of nonvested stock amortization expense

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Three Months Ended

​

For the Nine Months Ended

​

​

​

September 30,

​

September 30,

​

​

​

2023

​

2022

2023

2022

General and administrative expenses

​

$

1,243

​

$

785

​

$

3,848

​

$

2,133

​

Performance based restricted stock units

Stock Awards

Schedule of significant inputs used in the estimation of the fair value of awards granted

​

​	​	​	​
Significant Input	​	September 30, 2023	​
Closing share price of our common stock	​	$14.36 to $16.30	​
Risk-free rate of return	​	3.81% to 4.38%	​
Expected volatility of our common stock	​	53.38% to 54.53%	​
Holding period discount		0%
Simulation term (in years)		2.54 to 2.72
Range of target		0% to 200%

Schedule of nonvested stock amortization expense

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Three Months Ended

​

For the Nine Months Ended

​

​

​

September 30,

​

September 30,

​

​

2023

2022

2023

2022

​

General and administrative expenses

​

$

141

​

$

—

​

$

256

​

$

—

​

​

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