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STOCK-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2021

STOCK-BASED COMPENSATION PLANS

Schedule of outstanding and exercisable number of options

​

​	​	​	​	​	​
​		Outstanding Number of Options		Exercisable Number of Options
​	​	(in thousands)	​	(in thousands)
Plan Category				​
2005 Stock Option Plan		325		​	325
Equity Compensation Plans not approved by Shareholders		28		​	28
2017 Stock Option Plan		412		​	317
Total		765	​	​	670

Schedule of share based compensation expenses recorded in the consolidated statement of income

The following table summarizes stock-based compensation expenses recorded in the condensed consolidated statements of operations (in thousands):

​

​	​	​	​	​	​	​
​	​	For the Years Ended December 31,
​	​	2021			2020
Cost of revenue	​	$	56	​	$	37
Sales and marketing expense	​		155	​		424
General, and administrative	​	​	1,419	​	​	2,220
Total stock based compensation expense	​	$	1,630	​	$	2,681

​

Summary of fair value of stock options grants

The Company did not grant any stock options during the year ended December 31, 2021. The Company granted 14,000 stock options during the year ended December 31, 2020. The Company used the Black Scholes option pricing model to determine the fair value of stock option grants, using the following assumptions for the year ended December 31, 2020:

​

​	​	​	​
Weighted average expected term		6.79 years
Weighted average volatility		117	%
Weighted average risk-free interest rate		1.59	%
Dividend yield		0	%

Summary of stock option activity under the option plan

A combined summary of stock option activity for all plans for the years ended December 31, 2021 and 2020 is presented below:

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Weighted	​	​	​
​	​	​	​	Weighted		​	Average	​	Aggregate
​	​	Number of	​	Average		​	Remaining	​	Intrinsic
​	​	Shares	​	Strike		​	Contractual	​	Value
​		(in thousands)		Price			Life (Years)		(in thousands)
Outstanding at December 31, 2019		2,041	​	$	2.25	​	​		​	​
Granted		15	​	$	9.23	​	​		​	​
Exercised		(684)	​	$	0.82	​	​		​	​
Forfeited		(265)	​	$	4.25	​	​		​	​
Outstanding at December 31, 2020		1,107	​	$	2.76	​	6.47	​	$	10,483
​	​	​	​	​	​	​	​	​	​	​
Outstanding at December 31, 2020		1,107	​	$	2.76	​	​	​	​	​
Granted		—	​	$	—	​	​	​		​
Exercised	​	(116)	​	$	4.87	​	​	​	​	​
Forfeited		(226)	​	$	6.45	​	​	​		​
Outstanding at December 31, 2021		765	​	$	1.36	​	4.68	​	$	5,896
Exercisable at December 31, 2021		670	​	$	0.99	​	4.33	​	$	5,412

Schedule of restricted stock award activity under all equity compensation plans

A summary of restricted stock award activity under the 2017 Stock Plan for the years ended December 2021 and 2020 are presented below:

​

​	​	​	​	​	​
​	​	Number of Shares		Weighted Average
​		(in thousands)		Grant Date Fair Value
Outstanding at December 31, 2019		112	​	$	5.28
Granted		352	​	$	11.75
Vested		(169)	​	$	7.76
Outstanding at December 31, 2020		295	​	$	11.53
​	​	​	​	​	​
Outstanding at December 31, 2020		295	​	$	11.53
Granted		381	​	$	14.15
Vested		(119)	​	$	10.92
Forfeited	​	(103)	​	$	12.40
Outstanding at December 31, 2021		454	​	$	13.69

Schedule of our unvested stock options

A summary of our unvested stock options as of December 31, 2021 and 2020 and related activity is presented below :

​	​	​	​	​	​	​	​	​	​	​
​		Non-vested		​	​		Weighted		​	​
​	​	Shares	​	Weighted		​	Average	​	Aggregate
​	​	Under	​	Average		​	Remaining	​	Intrinsic
​	​	Option	​	Grant Date		​	Contractual	​	Value
​	​	(in thousands)	​	Fair Value		​	Life (Years)	​	(in thousands)
Non-vested at December 31, 2019		979	​	$	4.03				​
Granted		15	​		8.88				​
Vested		(276)	​		3.34				​
Forfeited		(244)	​		4.36				​
Non-vested at December 31, 2020		474	​	$	4.35		7.97	​	$	3,677
​	​	​	​	​	​	​	​	​	​	​
Non-vested at December 31, 2020		474	​	$	4.35			​
Granted		—	​		—			​
Vested		(167)	​		1.93			​
Forfeited		(212)	​		6.48			​
Non-vested at December 31, 2021		95	​	$	3.85		7.17	​	$	484

Summary of stock options outstanding under the plans

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Outstanding

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Weighted average

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Number of

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Remaining

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​

​

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Weighted Average

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Options

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Contractual

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Weighted Average

​

Exercisable Number of

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Remaining Exercisable

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Exercisable

Range

(in thousands)

Life (years)

Strike Price

Options (in thousands)

Contractual Life (years)

Strike Price

$0 to $2.00

495

3.54

​

$

0.31

495

3.54

​

$

0.31

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​

​

​

​

​

​

​

​

​

​

​

​

​

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$2.01 to $4.00

244

6.65

​

$

2.72

167

6.48

​

$

2.62

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

$4.01 to $10.00

26

7.92

​

$

8.51

8

7.82

​

$

8.21

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​

​

​

​

​

​

​

​

​

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​

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765

4.68

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$

1.36

670

4.33

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$

0.99

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