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Shareholders Equity (Tables)

6 Months Ended

Jun. 30, 2021

Shareholders' Equity

Schedule of purchases of equity Shares

​

​	​	​	​	​	​	​	​	​
​	​	​		​		​	Maximum number
​	​	​	​	​		​	of shares that
​	​	​	​	​		​	may yet be
​	​	Total number	​	Average price		​	purchased under
​	​	of shares	​	paid per		​	the plans or
​		purchased	​	share			programs
Beginning of normal-course issuer bid, January 1, 2021	​	​	​	​	​	​	​	1,193,000
January 2021 (1)	​	—	​	$	—	​	​	​
February 2021 (1)	​	62,400	​	$	4.07	​	​	​
March 2021 (1)	​	60,800	​	$	3.92	​	​	​
April 2021 (1)	​	63,315	​	$	3.89	​	​	​
May 2021 (1)	​	63,900	​	$	4.02	​	​	​
June 2021 (1)	​	13,800	​	$	4.77	​	​	​
Total as of June 30, 2021	​	264,215	​	$	4.02	​	​	928,785

(1) Epsilon repurchased these shares under its share repurchase program that commenced on January 1, 2021, as described above.

​

Schedule of restricted stock activity

​

​	​	​	​	​	​	​	​	​
​	​	Six months ended			​	Year ended
​	​	June 30, 2021			​	December 31, 2020
​	​	​	​	Weighted	​	​	​	Weighted
​	​	Number of	​	Average	​	Number of	​	Average
​	​	Shares	​	Remaining Life	​	Shares	​	Remaining Life
​		Outstanding		(years)		Outstanding		(years)
Balance non-vested Restricted Stock at beginning of period	​	290,070	​	1.60	​	346,499	​	1.67
Granted	​	—	​	—	​	111,900	​	3.00
Vested	​	—	​	—	​	(168,329)	​	—
Forfeited	​	(22,000)	​	1.68	​	—	​	—
Balance non-vested Restricted Stock at end of period	​	268,070	​	1.09	​	290,070	​	1.60
​	​	​	​	​	​	​	​	​

Schedule of assumptions used to calculate grant date fair value

​

​	​	​	​	​	​	​
​	​	June 30,		​	December 31,
​		2021		​	2020
Expected life (in years)	​	​	—	​	​	0.33 - 3
Expected volatility	​	​	—	​	​	42.1% - 53.6%
Risk-free rate of return	​	​	—	​	​	0.10% - 0.17%
Weighted average grant-date fair value per PSU	​	$	—	​	$	4.10

Schedule of PSU activity

​

​	​	​	​	​	​	​	​	​
​	​	Six months ended			​	Year ended
​	​	June 30, 2021			​	December 31, 2020
​	​	​	​	Weighted	​	​	​	Weighted
​	​	Number of	​	Average	​	Number of	​	Average
​	​	Shares	​	Remaining Life	​	Shares	​	Remaining Life
​		Outstanding		(years)		Outstanding		(years)
Balance non-vested PSUs at beginning of period	​	193,167	​	1.60	​	—	​	—
Granted	​	—	​	—	​	214,000	​	1.61
Vested	​	(41,667)	​	—	​	(20,833)	​	—
Balance non-vested PSUs at end of period	​	151,500	​	1.47	​	193,167	​	1.60

Summary of stock option activity

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	Six months ended				​	Year ended
​	​	June 30, 2021				​	December 31, 2020
​	​	​	​	Weighted		​	​		​	Weighted
​	​	Number of	​	Average		​	Number of		​	Average
​	​	Options	​	Exercise		​	Options		​	Exercise
Exercise price in US$		Outstanding		Price (1)			Outstanding			Price (1)
Balance at period-end	​	245,000	​	$	5.27	​	​	245,000	​	$	5.27
​	​	​	​	​	​	​	​	​	​	​	​
Exercisable at period-end	​	245,000	​	$	5.27	​	​	245,000	​	$	5.27

(1) Exercise price has been converted to US$ using the rate of Cdn$1.33 to US$1, the rate on March 15, 2019, the date Epsilon Energy, Ltd was delisted from the TSX.

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