Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.20.4
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The Company has computed the fair value of all options granted using the Black-Scholes-Merton model during the years ended December 31, 2020 and 2019, using the following assumptions:
Year Ended December 31,
2020 2019
Expected volatility
53% to 58%
35% to 55%
Expected dividends None None
Expected term (years) 7 7
Risk-free rate
0.42% to 1.65%
1.89% to 2.61%
Share-based Compensation, Stock Options, Activity
The information below summarizes the stock options:
Number of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual Life
Aggregate Intrinsic Value
Outstanding at December 31, 2018
986,691  $ 4.72  6.8
Granted at market price 65,759  12.31 
Exercised (103,205) 5.28  $ 1,236,099 
Cancelled —  — 
Outstanding at December 31, 2019
949,245  $ 5.19  6.5
Granted at market price 111,158  14.76 
Exercised (224,802) 4.49  $ 3,234,018 
Cancelled —  — 
Outstanding at December 31, 2020
835,601  $ 6.65  6.6 $ 16,153,117 
Exercisable at December 31, 2020
570,724  $ 4.64  5.8 $ 12,334,489 
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
The information below summaries the restricted stock activity:
Restricted Stock Awards Shares Weighted Average Grant-Date Fair Value per Award
Non-vested at December 31, 2019
38,976  $ 12.31 
Granted 28,680  14.92 
Vested (22,061) 13.99 
Cancelled —  — 
Non-vested at December 31, 2020
45,595  $ 13.13