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SHAREHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2022
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS' EQUITY

NOTE 7: SHAREHOLDERS' EQUITY

 

a.Ordinary shares

 

The ordinary shares of the Company entitle their holders to receive notice to participate and vote in general meetings of the Company, the right to share in distributions upon liquidation of the Company and to receive dividends, if declared.

 

b.Stock Options and RSUs plans

 

In 2003, the Company adopted a share option plan which has been extended or replaced from time to time, including on September 6, 2010, December 2012 and August 2014. To date, the plan that is currently in effect is the Amended and Restated Share Option and RSU Plan as amended August 10, 2014 (the “Plan”). Under the Plan, options and RSUs may be granted to officers, directors, employees and consultants of the Company or its subsidiaries. The options vest primarily over four years, subject to certain exceptions. The options expire between six to ten years from the date of grant. The Plan expires in December 2022. The maximum number of shares which may be issued under Options granted pursuant to the Plan is twenty million (20,000,000). The Company needs to reserve, and the Board of Directors has reserved, sufficient authorized but unissued Shares for purposes of the Plan subject to adjustments as provided in the Plan. Since the last amendment in 2014, the Company has issued approximately 7,650,000 options under the Plan.

 

The following table summarizes the activities for the Company’s stock options for the six months ended June 30, 2022:

 

   

Six months ended

June 30, 2022

  
 

 

Number

of options

 

 

Weighted

average

exercise

price

 

 

Weighted average

remaining contractual

term

(in years)

 

 

Aggregate

intrinsic

value

 

 

                          

Outstanding at beginning of year

    

5,186,446

    

$

3.40

      

4.01

    

$

534

  

Granted

    

155,000

      

1.80

                

Exercised

    

(88,115

)

    

1.29

                

Forfeited or expired

    

(673,118

)

    

5.43

                

 

                              

Outstanding at end of the period

    

4,580,213

      

3.09

      

3.78

    

$

472

  

 

                              

Options exercisable at end of the period

    

2,156,147

     $

2.90

      

2.63

    

$

250

  

 

                              

Vested and expected to vest

    

4,156,424

    

$

3.08

      

3.66

    

$

418

  

 

The weighted average fair value of options granted during the six months ended June 30, 2021 and 2022 was $2.21 and $1.00, respectively.

 

The intrinsic value of options exercised during the six months ended June 30, 2021 and 2022 was $5,080 and $62, respectively.

 

The following table summarizes the activities for the Company’s RSUs for the six months ended June 30, 2022:

 

   

Number of RSUs

 

 

Aggregate

intrinsic value

  

 

                

Unvested at beginning of year

    

699,679

    

$

1,805

  

Granted

    

78,600

          

Vested

    

(12,312

)

    

 

  

Forfeited

    

(69,443

)

 

  

 

  

 

                

Unvested at end of period

    

696,524

     $

1,790

  

 

The weighted average fair value at grant date of RSUs granted for the six months ended June 30, 2021 and 2022 was $3.81 and $1.81 respectively.

 

As of June 30, 2022, the total unrecognized estimated compensation cost related to non-vested stock options and RSUs granted prior to that date was $2,946, which is expected to be recognized over a weighted average period of approximately one year.

 

 

The following table sets forth the total share-based compensation expenses included in the interim consolidated statements of operations for the six months ended June 30, 2021 and 2022:

 

   

Six months ended

June 30,

  
   

2021

    

2022

  
   

Unaudited

  

 

            

Cost of revenues

    

71

      

257

  

Research and development

    

113

      

20

  

Sales and Marketing

    

154

      

579

  

General and administrative

    

299

      

579

  

 

                

Total share-based compensation expense

  

$

637

    

$

1,435