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Accounting for Share-Based Payments (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Activity in the Company’s Stock Option Plans

Transactions related to stock options for the year ended December 31, 2022 are summarized as follows:

			Weighted Average Exercise Price						Options Outstanding						Weighted Average Contractual Term (in years)						Intrinsic Value of Options
Outstanding at December 31, 2021			$	13.04					143,828						6.0						$	487,011
Exercised			9.67						(18,098)
Canceled, forfeited, or expired			11.71						(7,588)
Outstanding at December 31, 2022			$	13.66					118,142						5.2						$	—
Vested and expected to vest at December 31, 20221			$	13.00					5,665						7.1						$	—
Exercisable options			$	13.69					112,477						5.1						$	—

1Includes outstanding vested and nonvested options

Schedule of Stock Awards Plan Activity

Transactions related to restricted stock awards for the year ended December 31, 2022 are summarized as follows:

			Shares						Weighted Average Grant Date Fair Value
Nonvested at December 31, 2021			43,581						$	9.82
Granted			72,110						18.19
Vested			(24,641)						7.75
Forfeited			(11,947)						13.33
Nonvested at December 31, 2022			79,103						$	17.31

Transactions related to inducement stock awards as of December 31, 2022 were as follows:

			Units						Weighted-Average Grant Date Fair Value
Outstanding December 31, 2021			30,856						$	8.11
Vested			(9,170)						2.21
Outstanding December 31, 2022			21,686						$	10.61

Schedule of Nonvested Performance- based Units Activity

The performance stock units are divided into tranches, each one vesting on the date the thirty-day volume-weighted average price of the Company's common stock `meets or exceeds the price target as set forth in the table below:

			Shares						Volume Weighted Average Price Target
Tranche I			9,663						$	22.50
Tranche II			50,000						25.00
Tranche III			40,000						27.50
Tranche IV			30,000						30.00
Tranche V			30,000						$	35.00

Transactions related to performance stock units for the year ended December 31, 2022 were as follows:

			Units						Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2021			—						$	—
Granted			159,663						3.92
Outstanding at December 31, 2022			159,663						$	3.92

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Tabular disclosure of the changes in outstanding nonvested performance-based units.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
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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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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
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