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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Company's Stock Option Activity
Following is a summary of the Company’s stock option activity for the three years ended December 31, 2019:
 
   
Number of
Options
   
Weighted Average
Exercise Price
 
Outstanding at December 31, 2016
   890,000   $2.80 
Granted
   —      —   
Exercised
   (180,000   0.43 
Cancelled / forfeited
   (36,000   2.90 
  
 
 
   
Outstanding at December 31, 2017
   674,000    3.43 
Granted
   495,000    6.72 
Exercised
   (52,000   2.08 
Cancelled / forfeited
   (6,000   3.20 
  
 
 
   
Outstanding at December 31, 2018
   1,111,000    4.95 
Granted
   683,000    6.48 
Exercised
   (6,000   1.18 
Cancelled / forfeited
   (67,000   6.35 
  
 
 
   
Outstanding at December 31, 2019
   1,721,000   $5.52 
  
 
 
   
 
 
 
Summary of Information Regarding the Company's Outstanding and Exercisable Stock Options
The table below summarizes information regarding the Company’s outstanding and exercisable stock options as of December 31, 2019:
 
Range of Exercise Prices:
  
Options
Outstanding
   
Weighted Average
Remaining
Contractual Life
(in years)
   
Weighted Average
Exercise Price
 
$2.01 to $4.00
   610,000    6.2   $3.55 
$4.01 to $6.00
   130,000    9.6    5.65 
$6.01 to $8.00
   981,000    8.7    6.72 
  
 
 
     
  
 
1,721,000
 
   7.9   
$
5.52
 
  
 
 
   
 
 
   
 
 
 
 
Range of Exercise Prices:
  
Options
Exercisable
   
Weighted Average
Remaining
Contractual Life
(in years)
   
Weighted Average
Exercise Price
 
$2.01 to $4.00
   343,000   6.2  $3.58
$4.01 to $6.00
   —      —      —   
$6.01 to $8.00
   92,000   8.3   6.75
  
 
 
     
  
 
435,000
    6.7  
$
4.25
 
  
 
 
   
 
 
   
 
 
 
Summary of Assumptions with Respect to the Black-Scholes Option Pricing Model The Company used the following average assumptions with respect to the Black-Scholes option pricing model for Mastech Digital stock options issued during 2019 and 2018.
 
   
Years Ended December 31,
 
   
2019
  
2018
  
2017
 
Stock option grants:
          
Weighted-average risk-free interest rate
   2.4%  2.8%  —   
Weighted-average dividend yield
   0.0%  0.0%  —   
Expected volatility
   49.7%  50.6%  —   
Expected term (in years)
   5.0  5.0  —   
Weighted-average fair value
  $2.95 $3.15 $—  
Summary of Mastech's Restricted Stock Unit Activity Following is a summary of Mastech’s restricted stock activity for the three years ended December 31, 2019:
 
   
Years Ended December 31,
 
   
2019
   
2018
   
2017
 
Beginning outstanding balance
   34,380    30,500    65,110 
Awarded
   16,365    25,380    —   
Released
   (17,460   (21,500   (34,610
Forfeited
   —      —      —   
  
 
 
   
 
 
   
 
 
 
Ending outstanding balance
   33,285    34,380    30,500