Annual report pursuant to Section 13 and 15(d)

SHARE-BASED COMPENSATION (Tables)

v3.20.4
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Restricted Stock Transactions
The following table provides a summary of our Restricted Stock transactions for the year ended December 31, 2020 (shares and units in thousands):
Shares Weighted-Average Grant
Date Fair Value
Unvested at January 1, 2020 24,625  $ 7.56 
Granted (1)
20,061  1.17 
Vested (9,197) 1.27 
Forfeited (528) 7.72 
Unvested at December 31, 2020 34,961  5.78 
(1) The weighted-average per share grant date fair value of Restricted Stock granted during the years ended December 31, 2019 and 2018 was $8.53 and $11.02, respectively.
Summary of Stock Option Transactions The following table provides a summary of our stock option transactions for the year ended December 31, 2020 (stock options in thousands):
Stock Options Weighted Average
Exercise Price
Outstanding at January 1, 2020 1,901  $ 10.32 
Granted (1)
10,000  4.50 
Exercised —  — 
Forfeited or expired (546) 10.32 
Outstanding at December 31, 2020 11,355  $ 5.19 
Exercisable at December 31, 2020 1,355  $ 10.32 
(1) The weighted-average grant date per option fair value was $0.70.
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award The stock options that were granted to a recipient during the year ended December 31, 2020, vest and become exercisable upon the achievement of both triggers as follows (stock options in thousands):
Service Trigger (1)
Stock Price Trigger (2)
Amount
December 15, 2021 $3.50 3,333
December 15, 2022 $4.50 3,333
December 15, 2023 $5.50 3,334
10,000
(1) Satisfied through continued employment or other service to the Company through the designated date.
(2) Satisfied upon the Company’s common stock price closing at a price per share at or equal to the designated closing price for any ten consecutive trading days.
Schedule of Stock Option Valuation Assumptions Valuation assumptions used to value stock options granted during the year ended December 31, 2020 were as follows:
Expected volatility 113.6  %
Expected dividend yields —  %
Risk-free rate 0.4  %