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SHARE INCENTIVE PLAN (Tables)
12 Months Ended
Dec. 31, 2018
SHARE INCENTIVE PLAN  
Summary of stock option activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number

 

Weighted

 

Weighted average

 

Weighted average

 

Aggregate

 

 

of options

 

average

 

grant-date

 

remaining contractual

 

intrinsic

 

    

outstanding

    

exercise price

    

fair value per option

    

term (years)

    

value

Options outstanding at January 1, 2016

 

2,566,256

 

2.15

 

1.02

 

5.52

 

4,639

Forfeited

 

(29,300)

 

1.76

 

0.41

 

 —

 

 —

Options outstanding at December 31, 2016

 

2,536,956

 

2.15

 

1.03

 

4.53

 

15,281

Granted

 

2,109,305

 

11.42

 

5.75

 

 —

 

 —

Exercised

 

(550,000)

 

1.08

 

0.22

 

 —

 

 —

Forfeited

 

(17,000)

 

2.32

 

0.79

 

 —

 

 —

Options outstanding at December 31, 2017

 

4,079,261

 

7.09

 

3.57

 

6.91

 

51,117

Granted

 

20,000

 

0.01

 

17.39

 

9.26

 

117

Forfeited

 

(42,250)

 

11.66

 

5.34

 

 —

 

 —

Options outstanding at December 31, 2018

 

4,057,011

 

7.00

 

3.62

 

5.93

 

10,337

Options exercisable at December 31, 2018

 

3,517,781

 

6.36

 

3.09

 

5.53

 

10,220

 

Schedule of fair value assumptions

 

 

 

 

 

 

 

 

 

Grant date

    

June 22, 2017

    

July 1, 2017

 

April 2, 2018

 

Risk-free interest rate

 

2.15

%  

2.31

%

2.73

%

Expected volatility

 

40

%  

40

%

38

%

Expected dividend yield

 

 0

%  

 0

%

 0

%

Exercise multiples

 

2.8/2.2

 

2.8/2.2

 

 2.2

 

Fair value of underlying ordinary share

 

11.67

 

11.67

 

17.40

 

 

Summary of nonvested shares

 

 

 

 

 

 

 

 

    

Number

    

Weighted

    

    

 

 

of nonvested shares

 

average grant date

 

Aggregate

 

 

outstanding

 

fair value

 

intrinsic value

 

 

 

 

 

 

 

Nonvested shares outstanding at December 31, 2016 and 2017

 

 —

 

  

 

  

Granted

 

218,000

 

  

 

  

 

 

 

 

 

 

 

Nonvested shares outstanding at December 31, 2018

 

218,000

 

20.16

 

1,273

 

 

 

 

 

 

 

Nonvested shares vested and expected to vest at December 31, 2018

 

218,000

 

20.16

 

1,273