Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.22.0.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
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, 2021 and 2020, using the following assumptions:
Year Ended December 31,
2021 2020
Expected volatility 57%
53% to 58%
Expected dividends None None
Expected term (years) 7 7
Risk-free rate
0.97% to 1.27%
0.42% to 1.65%
Share-based Compensation, Stock Options, Activity
The information below summarizes the stock options activity:

Number of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual Life
Aggregate Intrinsic Value
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 
Granted at market price 48,192  47.01 
Exercised (260,044) 5.84  $ 15,244,054 
Cancelled (28,660) 18.17 
Outstanding at December 31, 2021
595,089  $ 9.72  5.9 $ 33,336,794 
Exercisable at December 31, 2021
422,850  $ 5.08  5.0 $ 25,629,374 
Vested and expected to vest at December 31, 2021
585,703  $ 9.45  5.8 $ 32,962,812 
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, 2020
45,595  $ 13.13 
Granted 10,010  58.25 
Vested (26,143) 13.61 
Cancelled (1,742) 20.63 
Non-vested at December 31, 2021
27,720  $ 28.51