Share-based Compensation

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

The Company included the following amounts for share-based compensation awards in the unaudited condensed consolidated statements of operations (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020			2021		2020
Cost of revenues	$	416	$	308		$	2,228	$	1,296
Research and development	604		491			4,366		2,292
Sales and marketing	614		531			3,161		1,810
General and administrative	1,428		877			4,712		2,790

Total1	$	3,062	$	2,207		$	14,467	$	8,188

1During the quarter ended March 31, 2021, the Board of Directors of the Company approved and the Company granted restricted stock units to eligible employees under the 2018 Omnibus Incentive Compensation Plan, previously named the Amended and Restated 2009 Omnibus Incentive Compensation Plan (the “2018 Plan”) that were immediately vested, as fiscal 2020 annual bonus payments. The total charges recorded during the quarter ended March 31, 2021 were $7.0 million. Such bonus payments in fiscal 2020 were paid in the quarter ended June 30, 2020, and total charges related to such bonus payments recorded during the quarter ended June 30, 2020 were $2.7 million. During the quarter ended September 30, 2021, the Board of Directors of the Company approved, and the Company granted restricted stock units under the 2018 Plan to certain employees that contributed to the completion of the divestiture of Ctrack South Africa. Such grants were immediately vested, and the total charges were $0.6 million.

Stock Options

The following table summarizes the Company’s stock option activity:






Outstanding — December 31, 2020			8,479,979
Granted			1,355,000
Exercised			(1,082,618)
Canceled			(583,556)
Outstanding — September 30, 2021			8,168,805

Exercisable — September 30, 2021			4,775,992

At September 30, 2021, total unrecognized compensation expense related to stock options was $12.6 million, which is expected to be recognized over a weighted-average period of 2.62 years.

Restricted Stock Units

The following table summarizes the Company’s restricted stock unit (“RSU”) activity:






Non-vested — December 31, 2020			417,105
Granted			1,052,412
Vested			(930,981)
Forfeited			(51,590)
Non-vested — September 30, 2021			486,946

At September 30, 2021, total unrecognized compensation expense related to RSUs was $2.5 million, which is expected to be recognized over a weighted-average period of 2.45 years.