Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.21.2
STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
SCHEDULE OF STOCK OPTIONS ACTIVITY

The following table summarizes the activity relating to the Company’s stock options for the nine-month period ended September 30, 2021:

 

    Options     Weighted- Average Exercise Price     Weighted-Average Remaining Contractual Terms   Aggregate Intrinsic Value  
                       
Outstanding at beginning of year     3,624     $ 5.85              
Granted     120       7.77              
Exercised     (146 )     5.59              
Forfeited or expired     (101 )     6.23              
                             
Outstanding at end of period     3,497     $ 5.92     7.5 years   $ 4,018  
                             
Exercisable at end of period     1,290     $ 5.65     6.1 years   $ 1,801  

 

SCHEDULE OF FAIR VALUE STOCK OPTION ASSUMPTIONS

The fair value of each option grant on the date of grant is estimated using the Black-Scholes option-pricing model reflecting the following weighted-average assumptions:

 

    September 30,  
    2020     2021  
             
Expected volatility     44.7 %     50.2 %
Expected life of options (in years)     6       7  
Risk free interest rate     1.17 %     0.69 %
Dividend yield     0 %     0 %
Weighted-average fair value of options granted during year   $ 2.58     $ 3.81  
SCHEDULE OF NON-VESTED RESTRICTED STOCK ACTIVITY

The Company grants restricted stock to employees, whereby the employees are contractually restricted from transferring the shares until they are vested. The stock is unvested at the time of grant and, upon vesting, there are no legal restrictions on the stock. The fair value of each share is based on the Company’s closing stock price on the date of the grant. A summary of all non-vested restricted stock for the nine-month period ended September 30, 2021 is as follows:

 

    Number of Non-Vested Shares     Weighted-Average Grant Date Fair Value  
             
Restricted stock, non-vested, beginning of year     806     $ 5.54  
Granted     450       7.63  
Vested     (253 )     5.75  
Forfeited or expired     (91 )     6.55  
                 
Restricted stock, non-vested, end of period     912     $ 6.41  
Restricted Stock Units (RSUs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
SCHEDULE OF NON-VESTED RESTRICTED STOCK ACTIVITY

The Company also grants restricted stock units (RSUs) to employees. The following table summarizes the activity relating to the Company’s restricted stock units for the nine-month period ended September 30, 2021:

 

    Number of
Restricted
Stock Units
    Weighted-Average
Grant Date
Fair Value
 
             
Restricted stock units, non-vested, beginning of year     75     $ 5.60  
Granted     -       -  
Vested     (34 )     5.60  
Forfeited     (4 )     5.60  
                 
Restricted stock units, non-vested, end of period     37     $ 5.60