Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Stock-Based Compensation

Summary of compensation costs related to stock-based awards

The following table summarizes compensation costs related to our stock-based awards (in thousands, except per share data):

	Three Months Ended
	March 31,
	2022		2021
Cost of revenue	$	113	$	39
Selling, general and administrative		811		640
Research and development		164		137
Total stock-based compensation		1,088		816
Tax effect on stock-based compensation		—		—
Net effect on net income	$	1,088	$	816

Summary of stock option activity

The following table summarizes the stock option transactions during the three months ended March 31, 2022 (in thousands, except per share data):

				Weighted-
				average
		Weighted-		Remaining
	Number of	average		Contractual	Aggregate
	Options	Exercise		Life	Intrinsic
Stock Options	Outstanding	Price		(in years)	Value
Balance as of January 1, 2022	1,378	$	4.83	5.60	$	5,573
Granted	—		—
Exercised	—		—
Canceled and expired	—		—
Balance as of March 31, 2022	1,378	$	4.83	5.36	$	3,383
Options vested as of March 31, 2022 and unvested options expected to vest, net of forfeitures	1,376	$	4.83	5.35	$	3,371
Options exercisable as of March 31, 2022	1,140	$	5.10	4.92	$	2,547

Summary of restricted stock awards activity

A summary of activity related to restricted stock awards for the three months ended March 31, 2022 is presented below (in thousands, except per share data):

		Weighted-Average
		Grant Date
Stock Awards	Shares	Share Value
Non-vested as of January 1, 2022	875	$	6.26
Granted	2	$	9.05
Vested	(9)	$	11.60
Forfeited	(8)	$	5.21
Non-vested as of March 31, 2022	860	$	6.22

Summary of unvested at-risk performance shares

A summary of the status of our unvested at-risk, performance shares as of March 31, 2022 is presented below (in thousands, except per share data):

			Weighted-Average
			Grant Date
Stock Awards	Shares*		Share Value
Non-vested as of January 1, 2022	114		$	15.37
Granted	74	**	$	10.91
Vested	—		$	—
Forfeited	—		$	—
Non-vested as of March 31, 2022	188		$	12.42

*The number of shares presented is based on achieving 150% of the targeted financial performance metric as defined in the at-risk, performance shares agreement.

** The first annual vesting was reported in Q4 2021, when 25% of the at-risk performance shares became eligible subject to review and confirmation by the Compensation Committee after year-end results were certified.