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Share Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Awards

The following table presents a summary of the Company’s unvested restricted stock awards:

			Number of Shares						Weighted- Average Grant Date Fair Value
			(In thousands)
Unvested restricted shares outstanding at January 1, 2020			233						$	12.66
Granted			105						$	2.15
Vested			(174)						$	11.53
Forfeited / Canceled			(50)						$	15.97
Unvested restricted shares outstanding at December 31, 2020			114						$	3.26
Granted			56						$	5.26
Vested			(111)						$	2.99
Forfeited / Canceled			(2)						$	16.25
Unvested restricted shares outstanding at December 31, 2021			57						$	5.26
Granted			18						$	18.93
Vested (1)			(57)						$	5.26
Forfeited / Canceled			—						$	—
Unvested restricted shares outstanding at December 31, 2022			18						$	18.93

____________________

(1)     The aggregate intrinsic value of restricted stock that vested during 2022 was approximately $1.4 million based on the stock price at the time of vesting.

The following table presents a summary of the Company’s unvested restricted stock units:

						Number of Units						Weighted- Average Grant Date Fair Value
						(In thousands)
Unvested restricted stock units outstanding at December 31, 2020						1,410						$	1.10
Granted						178						$	7.58
Vested (1)						(477)						$	1.14
Forfeited / Canceled						(705)						$	0.94
Unvested restricted stock units outstanding at December 31, 2021						406						$	4.18
Granted						39						$	13.51
Vested (1)						(175)						$	3.61
Forfeited / Canceled						(18)						$	5.51
Unvested restricted stock units outstanding at December 31, 2022						252						$	5.93

____________________

(1)     The aggregate intrinsic value of restricted stock units that vested during 2022 was approximately $3.3 million based on the stock price at the time of vesting.

The following table presents a summary of the Company's performance share units:

						Number of Units						Weighted- Average Grant Date Fair Value
						(In thousands)
Unvested performance share units outstanding at January 1, 2020						92						$	20.41
Granted						205						$	1.66
Vested						(92)						$	20.41
Forfeited / Canceled						—
Unvested performance share units outstanding at December 31, 2020						205						$	1.66
Granted						39						$	5.01
Vested						(197)						$	1.70
Forfeited / Canceled						(13)						$	2.38
Unvested performance share units outstanding at December 31, 2021						34						$	5.01
Granted						19						$	13.51
Vested (1)						(34)						$	5.01
Forfeited / Canceled						(2)						$	13.51
Unvested performance share units outstanding at December 31, 2022						17						$	13.51

____________________

(1)     The aggregate intrinsic value of performance share units that vested during 2022 was approximately $0.5 million.

Schedule of Weighted Average Assumptions

The fair value of stock options is estimated on the date of the grant using a Black-Scholes valuation model that uses the weighted average assumptions noted in the following table. Expected volatility is based on historical volatility of the Company’s common stock and other factors. The Company uses historical data on the exercise of stock options, post-vesting forfeitures and other factors to estimate the expected term of the stock-based payments granted. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. Generally, stock options granted to employees and

directors vest ratably over three years from the grant date and expire seven years from the date of grant. There were no stock options granted during the year ended December 31, 2022.

Assumptions						For the Year Ended December 31, 2021						For the Year Ended December 31, 2020
Risk-free interest rate						0.79		%				1.40		%
Expected dividend yield						—		%				—		%
Expected volatility						78.2		%				46.2		%
Expected term						5 years						2.75 years

Summary of Stock Option Activity

The following table presents a summary of the Company's stock option activity for the years ended December 31, 2022, 2021 and 2020:

						Number of Shares						Weighted Average Exercise Price per Share						Weighted Average Remaining Contractual Term(years)						Aggregate Intrinsic Value (in millions)
						(In thousands)
Outstanding at January 1, 2020						—						$	—					—						$	—
Granted						245						—						—						—
Forfeited / Canceled						(154)						—						—						—
Outstanding at December 31, 2020						91						$	—					2.68						$	0.24
Exercisable at December 31, 2020						—						$	—					—						$	—
Outstanding at December 31, 2020						91						$	—					2.68						$	0.24
Granted						250						—						—						—
Exercised						(9)						$	6.43					—						—
Expired						(1)						—						—						—
Forfeited / Canceled						(7)						—						—						—
Outstanding at December 31, 2021						324						$	—					7.80						$	0.80
Exercisable at December 31, 2021						24						$	—					1.59						$	0.19
Outstanding at December 31, 2021						324						$	—					7.80						$	0.80
Granted						—						—						—						—
Exercised						(31)						$	17.53					—						—
Expired						—						—												—
Forfeited / Canceled						(7)						—						—						—
Outstanding at December 31, 2022 (1)						286						$	—					7.64						$	2.38
Exercisable at December 31, 2022						68						$	—					6.49						$	0.64

____________________

(1)     All outstanding stock options as of December 31, 2022 are expected to vest.

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

The following tables summarize the Company's share and incentive-based compensation for the years ended December 31, 2022, 2021 and 2020 (in thousands):

						Recurring Compensation Expense (1)						Executive Terminations (2)						Reduction in Force (2)												Total
Year Ended December 31, 2022
Equity-classified awards:
Restricted stock awards and units						$	997					$	—					$	—											$	997
Performance share units						215						—						—												215
Stock options						314						—						—												314
Total share-based compensation expense						1,526						—						—												1,526
Less: Capitalized compensation expense						—						—						—												—
Share and incentive-based compensation expense, net						$	1,526					$	—					$	—											$	1,526
Year Ended December 31, 2021
Equity-classified awards:
Restricted stock awards and units						$	773					$	—					$	11											$	784
Performance share units						476						—						6												482
Stock options						128						—						—												128
Total share-based compensation expense						1,377						—						17												1,394
Less: Capitalized compensation expense						—						—						—												—
Share and incentive-based compensation expense, net						$	1,377					$	—					$	17											$	1,394
Year Ended December 31, 2020
Equity-classified awards:
Restricted stock awards						$	974					$	508					$	40											$	1,522
Performance share units						211						1,276						—												1,487
Stock options						22						—						—												22
Total share-based compensation expense						1,207						1,784						40												3,031
Less: Capitalized compensation expense						(19)						—						—												(19)
Share and incentive-based compensation expense, net						$	1,188					$	1,784					$	40											$	3,012

____________________

(1)Recorded in general and administrative expense in the accompanying consolidated statements of operations.

(2)Recorded in employee termination benefits in the accompanying consolidated statements of operations.

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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Tabular disclosure of activity for outstanding award under share-based payment arrangement excluding share and unit options and nonvested award.

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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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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.

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