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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
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, 2022:
|  | Number of Options |  |  | Weighted Average Exercise Price |
Outstanding at December 31, 2019 |  |  | 1,721,000 |  |  | $ | 5.52 |
Granted |  |  | 800,000 |  |  |  | 15.49 |
Exercised |  |  | (305,000 | ) |  |  | 4.36 |
Cancelled / forfeited |  |  | (207,000 | ) |  |  | 8.04 |
Outstanding at December 31, 2020 |  |  | 2,009,000 |  |  |  | 9.40 |
Granted |  |  | 501,000 |  |  |  | 17.58 |
Exercised |  |  | (31,000 | ) |  |  | 7.34 |
Cancelled / forfeited |  |  | (438,000 | ) |  |  | 13.04 |
Outstanding at December 31, 2021 |  |  | 2,041,000 |  |  |  | 10.66 |
Granted |  |  | 1,200,000 |  |  |  | 15.76 |
Exercised |  |  | (113,000 | ) |  |  | 11.73 |
Cancelled / forfeited |  |  | (802,000 | ) |  |  | 15.85 |
Outstanding at December 31, 2022 |  |  | 2,326,000 |  |  | $ | 11.38 |
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, 2022:
Range of Exercise Prices: |  | Options Outstanding |  |  | Weighted Average Remaining Contractual Life (in years) |  |  | Weighted Average Exercise Price |
$0.01 to $4.00 |  |  | 355,000 |  |  |  | 3.3 |  |  | $ | 3.56 |
$4.01 to $8.00 |  |  | 581,000 |  |  |  | 5.8 |  |  |  | 6.83 |
$8.01 to $12.00 |  |  | — |  |  |  | — |  |  |  | — |
$12.01 to $16.00 |  |  | 1,149,000 |  |  |  | 8.8 |  |  |  | 14.81 |
$16.01 to $20.00 |  |  | 241,000 |  |  |  | 8.8 |  |  |  | 17.51 |
|  |  | 2,326,000 |  |  |  | 7.2 |  |  | $ | 11.38 |
Range of Exercise Prices: |  | Options Exercisable |  |  | Weighted Average Remaining Contractual Life (in years) |  |  | Weighted Average Exercise Price |
$0.01 to $4.00 |  |  | 355,000 |  |  |  | 3.3 |  |  | $ | 3.56 |
$4.01 to $8.00 |  |  | 349,000 |  |  |  | 5.8 |  |  |  | 6.85 |
$8.01 to $12.00 |  |  | — |  |  |  | — |  |  |  | — |
$12.01 to $16.00 |  |  | 179,000 |  |  |  | 7.2 |  |  |  | 15.49 |
$16.01 to $20.00 |  |  | 68,000 |  |  |  | 8.7 |  |  |  | 17.52 |
|  |  | 951,000 |  |  |  | 5.3 |  |  | $ | 8.01 |
Summary of Assumptions with Respect to the Black-Scholes Option Pricing Model |
|  | Years Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Stock option grants: |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average risk-free interest rate |  |  | 2.7 | % |  |  | 0.6 | % |  |  | 1.4 | %
Weighted-average dividend yield |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | %
Expected volatility |  |  | 66.1 | % |  |  | 68.3 | % |  |  | 52.7 | %
Expected term (in years) |  |  | 3.6 |  |  |  | 3.8 |  |  |  | 3.9 |
Weighted-average fair value |  | $ | 7.83 |  |  | $ | 8.85 |  |  | $ | 6.36 |
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, 2022:
|  | Years Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Beginning outstanding balance |  |  | 25,059 |  |  |  | 30,843 |  |  |  | 33,285 |
Awarded |  |  | 13,979 |  |  |  | 11,955 |  |  |  | 11,475 |
Released |  |  | (21,234 | ) |  |  | (17,739 | ) |  |  | (13,917 | )
Forfeited |  |  | — |  |  |  | — |  |  |  | — |
Ending outstanding balance |  |  | 17,804 |  |  |  | 25,059 |  |  |  | 30,843 |

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