Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation?? (Tables)

v3.22.2
Stock-Based Compensation  (Tables)
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [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 six months ended June 30, 2021 using the following assumptions:
Six Months Ended
June 30,
2021
Expected volatility 57%
Expected dividends None
Expected term (years) 7
Risk-free rate 0.98%
Forfeiture rate 5%
Share-based Payment Arrangement, Option, Activity
The information below summarizes the stock options activity for the six months ended June 30, 2022:
Number of
Shares		 Weighted
Average
Exercise
Price		 Weighted
Average
Remaining
Contractual Life
(Years)
Outstanding at December 31, 2021 595,089  $ 9.72  5.9
Granted —  — 
Exercised (9,582) 11.86 
Forfeited (4,889) 26.12 
Expired (1,834) 19.57 
Outstanding at June 30, 2022 578,784  $ 9.51  5.3
Exercisable at June 30, 2022 467,461  $ 6.50  4.8
For the three months ended June 30, 2022 and 2021, stock-based compensation expense for stock options was $136,352 and $176,169, respectively. For the six months ended June 30, 2022 and 2021, stock-based compensation expense for stock options was $307,355 and $327,048, respectively.
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
The information below summarizes the restricted stock activity for the six months ended June 30, 2022:
Restricted Stock Awards Shares Weighted Average
Grant-Date Fair
Value per Award
Non-vested at December 31, 2021 27,720  $ 28.51 
Granted 65,798  29.89 
Vested (10,885) 39.21 
Forfeited (1,707) 26.79 
Non-vested at June 30, 2022 80,926  $ 28.23 
For the three months ended June 30, 2022 and 2021, stock-based compensation expense for restricted stock was $203,839 and $107,395, respectively. For the six months ended June 30, 2022 and 2021, stock-based compensation expense for restricted stock was $356,392 and $203,010, respectively.