Stock-Based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
|---|
| Schedule of Stock Options Activity |
A summary of the status of the Company’s
stock options as of December 31, 2018, 2019 and 2020 and changes during the years then ended, is presented below:
| |
|
2018 |
|
|
2019 |
|
|
2020 |
|
| |
|
Number of Shares |
|
|
Weighted- Average Exercise Price |
|
|
Number of
Shares |
|
|
Weighted- Average
Exercise
Price |
|
|
Number
of Shares |
|
|
Weighted-
Average
Exercise
Price |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding at beginning of year |
|
|
1,290 |
|
|
$ |
5.33 |
|
|
|
1,220 |
|
|
$ |
5.37 |
|
|
|
4,078 |
|
|
$ |
5.79 |
|
| Share-based payments assumed |
|
|
- |
|
|
|
|
|
|
|
127 |
|
|
|
4.35 |
|
|
|
- |
|
|
|
|
|
| Granted |
|
|
120 |
|
|
|
6.41 |
|
|
|
2,829 |
|
|
|
5.99 |
|
|
|
1,230 |
|
|
|
6.08 |
|
| Exercised |
|
|
(169 |
) |
|
|
5.73 |
|
|
|
(59 |
) |
|
|
3.79 |
|
|
|
(199 |
) |
|
|
4.72 |
|
| Forfeited or expired |
|
|
(21 |
) |
|
|
5.96 |
|
|
|
(39 |
) |
|
|
6.22 |
|
|
|
(1,485 |
) |
|
|
6.02 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding at end of year |
|
|
1,220 |
|
|
$ |
5.37 |
|
|
|
4,078 |
|
|
$ |
5.79 |
|
|
|
3,624 |
|
|
$ |
5.85 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable at end of year |
|
|
695 |
|
|
$ |
5.07 |
|
|
|
847 |
|
|
$ |
5.71 |
|
|
|
1,247 |
|
|
$ |
5.60 |
|
|
| Summary of Stock Option Information by Exercise Price Range |
The following table summarizes information
about stock options at December 31, 2020.
| |
|
Options Outstanding |
|
|
Options Exercisable |
|
| Exercise Prices ($) |
|
Number
Outstanding
|
|
|
Weighted- Average Remaining
Contractual Life in Years
|
|
|
Weighted-
Average
Exercise Price
|
|
|
Number
Outstanding
|
|
|
Weighted-
Average
Exercise Price
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2.33 - 3.63 |
|
|
16 |
|
|
|
3 |
|
|
$ |
2.33 |
|
|
|
16 |
|
|
$ |
2.33 |
|
| 3.64 - 4.93 |
|
|
276 |
|
|
|
6 |
|
|
|
4.64 |
|
|
|
168 |
|
|
|
4.63 |
|
| 4.94 - 6.23 |
|
|
2,767 |
|
|
|
8 |
|
|
|
5.89 |
|
|
|
1,063 |
|
|
|
5.81 |
|
| 6.24 - 7.54 |
|
|
565 |
|
|
|
9 |
|
|
|
6.33 |
|
|
|
- |
|
|
|
0.00 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
3,624 |
|
|
|
8 |
|
|
$ |
5.85 |
|
|
|
1,247 |
|
|
$ |
5.60 |
|
|
| Schedule of Options Outstanding and Exercisable |
| |
|
As of December 31, 2020 |
|
| |
|
Aggregate
Intrinsic Value
|
|
|
Weighted -
Average
Remaining
Contractual Life
in Years
|
|
| |
|
|
|
|
|
|
| Options outstanding |
|
$ |
6,055 |
|
|
|
8 |
|
| Options exercisable |
|
$ |
2,392 |
|
|
|
7 |
|
|
| 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:
| |
|
Year Ended December 31, |
|
| |
|
2018 |
|
|
2019 |
|
|
2020 |
|
| |
|
|
|
|
|
|
|
|
|
| Expected volatility |
|
|
42.8 |
% |
|
|
42.1 |
% |
|
|
47.1 |
% |
| Expected life of options |
|
|
4.4 years |
|
|
|
6.7 years |
|
|
|
6.3 years |
|
| Risk free interest rate |
|
|
2.72 |
% |
|
|
1.64 |
% |
|
|
0.93 |
% |
| Dividend yield |
|
|
0 |
% |
|
|
0 |
% |
|
|
0 |
% |
| Weighted-average fair value of options granted during year |
|
$ |
2.46 |
|
|
$ |
2.20 |
|
|
$ |
2.69 |
|
|
| Schedule of Non-vested Restricted Stock Activity |
A summary of the non-vested shares
for the years ended December 31, 2018, 2019 and 2020 is as follows:
| |
|
Number of
Non-Vested
Shares
|
|
|
Weighted -
Average
Grant Date
Fair Value
|
|
| |
|
|
|
|
|
|
| Non-vested, at January 1, 2018 |
|
|
430 |
|
|
|
5.91 |
|
| Granted |
|
|
434 |
|
|
|
7.02 |
|
| Vested |
|
|
(266 |
) |
|
|
6.07 |
|
| Forfeited |
|
|
(30 |
) |
|
|
6.54 |
|
| |
|
|
|
|
|
|
|
|
| Non-vested, at December 31, 2018 |
|
|
568 |
|
|
|
6.65 |
|
| Granted |
|
|
625 |
|
|
|
5.82 |
|
| Vested |
|
|
(276 |
) |
|
|
6.40 |
|
| Forfeited |
|
|
(40 |
) |
|
|
5.88 |
|
| |
|
|
|
|
|
|
|
|
| Non-vested, at December 31, 2019 |
|
|
877 |
|
|
|
6.17 |
|
| Granted |
|
|
463 |
|
|
|
4.88 |
|
| Vested |
|
|
(389 |
) |
|
|
6.01 |
|
| Forfeited |
|
|
(145 |
) |
|
|
6.01 |
|
| |
|
|
|
|
|
|
|
|
| Non-vested, at December 31, 2020 |
|
|
806 |
|
|
|
5.54 |
|
|
| Restricted Stock Units (RSUs) [Member] |
|
| 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 years ended December 31, 2019 and 2020:
| |
|
Number of
Restricted
Stock Units
|
|
|
Weighted -
Average
Grant Date
Fair Value
|
|
| |
|
|
|
|
|
|
| Pointer share-based payments assumed |
|
|
260 |
|
|
$ |
5.60 |
|
| Vested |
|
|
(7 |
) |
|
|
5.60 |
|
| Forfeited |
|
|
- |
|
|
|
|
|
| Restricted stock-units, non-vested December 31, 2019 |
|
|
253 |
|
|
$ |
5.60 |
|
| Vested |
|
|
(148 |
) |
|
|
5.60 |
|
| Forfeited |
|
|
(30 |
) |
|
|
5.60 |
|
| |
|
|
|
|
|
|
|
|
| Restricted stock-units, non-vested, December 31, 2020 |
|
|
75 |
|
|
$ |
5.60 |
|
|
| Performance Shares [Member] |
|
| Schedule of Non-vested Restricted Stock Activity |
The following table summarizes the
activity relating to the Company’s performance shares for the years ended December 31, 2018, 2019 and 2020:
| |
|
Number of Non-Vested Shares |
|
|
Weighted - Average Grant Date Fair Value |
|
| |
|
|
|
|
|
|
| Performance shares, non-vested, at January 1, 2018 |
|
|
111 |
|
|
|
4.07 |
|
| Granted |
|
|
- |
|
|
|
- |
|
| Vested |
|
|
(93 |
) |
|
|
4.07 |
|
| Forfeited |
|
|
(18 |
) |
|
|
4.07 |
|
| Performance shares, non-vested, at December 31, 2018 |
|
|
- |
|
|
|
- |
|
| Granted |
|
|
- |
|
|
|
- |
|
| Vested |
|
|
- |
|
|
|
- |
|
| Forfeited |
|
|
- |
|
|
|
- |
|
| Performance shares, non-vested, at December 31, 2019 |
|
|
- |
|
|
|
- |
|
| Granted |
|
|
- |
|
|
|
- |
|
| Vested |
|
|
- |
|
|
|
- |
|
| Forfeited |
|
|
- |
|
|
|
- |
|
| Performance shares, non-vested, at December 31, 2020 |
|
|
- |
|
|
|
- |
|
|