| 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 year ended December 31, 2021, using the following assumptions:
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Year Ended December 31, |
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2021 |
| Expected volatility |
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57% |
| Expected dividends |
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None |
| Expected term (years) |
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7 |
| Risk-free rate |
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0.97% to 1.27% |
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| Share-based Compensation, Stock Options, Activity |
The information below summarizes the stock options activity:
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Number of
Shares |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual Life |
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Aggregate Intrinsic Value |
Outstanding at December 31, 2020 |
835,601 |
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$ |
6.65 |
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6.6 |
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$ |
16,153,117 |
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| Granted at market price |
48,192 |
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47.01 |
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| Exercised |
(260,044) |
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5.84 |
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$ |
15,244,054 |
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| Cancelled |
(28,660) |
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18.17 |
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Outstanding at December 31, 2021 |
595,089 |
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$ |
9.72 |
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5.9 |
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$ |
33,336,794 |
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| Granted at market price |
— |
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| Exercised |
(43,380) |
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8.86 |
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$ |
657,058 |
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| Expired |
(2,795) |
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28.45 |
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| Cancelled |
(16,991) |
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24.96 |
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Outstanding at December 31, 2022 |
531,923 |
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$ |
9.20 |
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4.7 |
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$ |
3,797,904 |
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Exercisable at December 31, 2022 |
454,315 |
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$ |
6.43 |
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4.3 |
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$ |
3,772,164 |
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Vested and expected to vest at December 31, 2022 |
528,981 |
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$ |
9.07 |
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4.7 |
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$ |
3,797,670 |
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| Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity |
The information below summaries the restricted stock activity:
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| Restricted Stock Awards |
Shares |
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Weighted Average Grant-Date Fair Value per Award |
Non-vested at December 31, 2020 |
45,595 |
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$ |
13.13 |
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| Granted |
10,010 |
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|
58.25 |
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| Vested |
(26,143) |
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13.61 |
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| Cancelled |
(1,742) |
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20.63 |
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Non-vested at December 31, 2021 |
27,720 |
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28.51 |
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| Granted |
68,125 |
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29.47 |
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| Vested |
(17,240) |
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29.13 |
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| Cancelled |
(8,293) |
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30.51 |
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Non-vested at December 31, 2022 |
70,312 |
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$ |
29.05 |
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