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Stock incentive plans (Tables) | 12 Months Ended
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Dec. 31, 2022
Stock incentive plans [Abstract] |
Assumptions Used in Option Valuation Calculations | The table below indicates the key assumptions (on a weighted-average basis) used in the option valuation calculations for options granted in 2022 and 2021 and a discussion of our methodology for developing each of the assumptions used in the valuation model:
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Expected option term (in years) |  |  | 7.1 |  |  |  | 6.9 |
Expected volatility |  |  | 51.3 | % |  |  | 50.5 | %
Risk-free interest rate |  |  | 2.2 | % |  |  | 1.2 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
Stock Option Activity | Equity award activity in the 2005 Equity Incentive Plan and the 2014 Equity Incentive Plan is summarized below:
|  | Stock Options |  |  | Restricted Stock Units |
|  | Number of Shares |  |  | Average Price* |  |  | Number of Units |  |  | Average Price** |
Outstanding at December 31, 2021 |  |  | 1,269,355 |  |  | $ | 9.18 |  |  |  | 155,225 |  |  | $ | 10.28 |
Granted |  |  | 181,100 |  |  |  | 8.16 |  |  |  | 129,700 |  |  |  | 8.78 |
Exercised |  |  | (17,500 | ) |  |  | 6.70 |  |  |  | (47,931 | ) |  |  | 10.22 |
Forfeited |  |  | (49,250 | ) |  |  | 9.38 |  |  |  | (22,708 | ) |  |  | 10.27 |
Expired |  |  | (27,750 | ) |  |  | 8.51 |  |  |  | – |  |  |  | – |
Outstanding at December 31, 2022 |  |  | 1,355,955 |  |  | $ | 9.08 |  |  |  | 214,286 |  |  | $ | 9.28 |
* | weighted average exercise price per share
** | weighted average grant stock price per share
Equity Awards Vested and Expected to Vest | The following summarizes information about equity awards outstanding that are vested and expect to vest and equity awards that are exercisable at December 31, 2022:
|  | Equity Awards Vested and Expected to Vest |  |  | Equity Awards That Are Exercisable |
|  | Awards |  |  | Average Price* |  |  | Aggregate Intrinsic Value |  |  | Remaining Term** |  |  | Awards |  |  | Average Price* |  |  | Aggregate Intrinsic Value |  |  | Remaining Term** |
Stock Options |  |  | 1,355,955 |  |  | $ | 9.08 |  |  | $ | 224 |  |  |  | 5.0 |  |  |  | 971,865 |  |  | $ | 9.23 |  |  | $ | 93 |  |  |  | 3.7 |
Restricted stock units |  |  | 145,687 |  |  |  | – |  |  |  | 921 |  |  |  | 2.1 |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
* | weighted average exercise price per share
** | weighted-average contractual remaining term in years

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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