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Stock-Based and Other Long-Term Incentive Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Restricted Stock Activity | A summary of all restricted stock activity as of December 31, 2021 and 2022 and changes during the years then ended are presented below.
| Number of Shares |  | Grant Date Fair Value |  | Weighted Average Remaining Contractual Life (years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2020 | 258,101 |  |  | $ | 12.87 |  |  | 8.61 |  | $ | 2,447 |
Granted | 156,339 |  |  | $ | 8.99 |  |  | — |  |  | $ | 1,406 |
Vested | (134,788) |  |  | $ | 14.94 |  |  | — |  |  | $ | 1,258 |
Canceled/Forfeited | (3,333) |  |  | 12.26 |  |  | — |  |  | 31 |
Outstanding, December 31, 2021 | 276,319 |  |  | $ | 9.67 |  |  | 1.77 |  | $ | 2,893 |
Granted | 126,662 |  |  | $ | 10.21 |  |  | — |  |  | $ | 1,294 |
Vested | (152,134) |  |  | $ | 10.99 |  |  | — |  |  | $ | 1,778 |
Canceled/Forfeited | — |  |  | $ | — |  |  | — |  |  | $ | — |
Outstanding, December 31, 2022 | 250,847 |  |  | $ | 9.14 |  |  | 1.42 |  | $ | 2,681 |
Stock Options Fair Value Assumptions | The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The expected life of options granted is based on the vesting period and historical exercise and post-vesting employment termination behavior for similar grants. We use historical data to estimate option exercise and employee termination within the valuation model; separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes.
Weighted average Black -Scholes fair value assumption during the year ended December 31, are as follows: |  | 2022 |  |
Risk free rate |  |  | 2.99 | % |  |  |  |
Expected life |  |  | 2.67 |  |  |  |
Expected volatility |  |  | 54.5 | % |  |  |  |
Expected dividend yield |  |  | — | % |  |  |  |
Summary of Option Activity | A summary of all option activity as of December 31, 2021 and 2022 and changes during the years then ended are presented below:
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (years) |  | Aggregate Intrinsic Value
|  |  |  |  |  |  | (in thousands)
Outstanding, December 31, 2020 | 161,334 |  |  | $ | 24.48 |  |  | 3.48 |  | $ | — |
Granted | 55,500 |  |  | $ | 10.58 |  |  | — |  |  | — |
Exercised | — |  |  | — |  |  | — |  |  | — |
Canceled/Forfeited | — |  |  | $ | — |  |  | — |  |  | $ | — |
Expired | (16,000) |  |  | $ | 17.81 |  |  | — |  |  | — |
Outstanding, December 31, 2021 | 200,834 |  |  | $ | 21.17 |  |  | 4.83 |  | — |
Granted | 215,000 |  |  | $ | 16.07 |  |  | — |  |  | — |
Exercised | — |  |  | — |  |  | — |  |  | — |
Canceled/Forfeited | (200,750) |  |  | $ | (18.09) |  |  | — |  |  | — |
Expired | (13,500) |  |  | $ | 13.29 |  |  | — |  |  | — |
Outstanding, December 31, 2022 | 201,584 |  |  | $ | 19.32 |  |  | 3.90 |  | $ | — |
Exercisable, December 31, 2022 | 160,084 |  |  | $ | 21.48 |  |  | 2.55 |  | $ | — |
Summary of Stock Options Outstanding | The following table summarizes information about our stock options outstanding at December 31, 2022:
Range of Exercise Prices |  | Options Outstanding |  | Options Exercisable
| Shares |  | Weighted Average Remaining Contractual Life (years) |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price
$0.01-$18.00 |  | 106,000 |  |  | 5.58 |  | $ | 13.30 |  |  | 64,500 |  |  | $ | 14.78 |
$18.01-$22.00 |  | 13,000 |  |  | 0.22 |  | 18.75 |  |  | 13,000 |  |  | $ | 18.75 |
$22.01-$26.00 |  | 29,667 |  |  | 2.28 |  | 22.90 |  |  | 29,667 |  |  | $ | 22.90 |
$26.01-$30.00 |  | 20,750 |  |  | 4.13 |  | 28.15 |  |  | 20,750 |  |  | $ | 28.15 |
$30.01-$34.00 |  | 32,167 |  |  | 1.22 |  | 30.41 |  |  | 32,167 |  |  | $ | 30.41 |
|  | 201,584 |  |  | 3.90 |  | $ | 19.32 |  |  | 160,084 |  |  | $ | 21.48 |
Summary of the Status of Unvested Stock Options | The summary of the status of our unvested stock options as of December 31, 2022 and changes during the year then ended is presented below.
Unvested stock options: | Shares |  | Weighted Average Grant Date Fair Value
Unvested at December 31, 2021 | 55,500 |  |  | $ | 10.58 |
Granted | 215,000 |  |  | $ | 16.07 |
Vested | (69,500) |  |  | 14.48 |
Canceled/Forfeited | (159,500) |  |  | 16.17 |
Unvested at December 31, 2022 | 41,500 |  |  | $ | 11.01 |

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- 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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- 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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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