Current report filing

SHARE-BASED COMPENSATION (Tables)

v3.22.4
SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2021
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, 2021 (shares and units in thousands):

    

    

Weighted-

Average Grant

    

Shares

    

Date Fair Value

Unvested at January 1, 2021

 

34,961

$

5.78

Granted (1)

 

1,857

 

2.90

Vested

 

(5,658)

 

1.31

Forfeited

 

(356)

 

5.59

Unvested at December 31, 2021

 

30,804

$

6.43

(1) The weighted-average per share grant date fair values of Restricted Stock granted during the years ended December 31, 2020 and 2019 were $1.17 and $8.53, respectively.
Summary of Stock Option Transactions The following table provides a summary of our stock option transactions for the year ended December 31, 2021 (stock options in thousands):

    

    

Weighted

Average

    

Stock Options

    

Exercise Price

Outstanding at January 1, 2021

 

11,355

$

5.19

Granted (1)

 

 

Exercised

 

 

Forfeited or expired

 

(276)

 

10.32

Outstanding at December 31, 2021

 

11,079

 

5.07

Exercisable at December 31, 2021

 

4,413

$

5.17

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The stock options that were granted to a member of the Company’s executive management team 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)

$

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.
(3) Vested during the year ended December 31, 2021.
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

%