SHAREHOLDERS EQUITY (Tables)

3 Months Ended

Mar. 31, 2022

SHAREHOLDERS EQUITY

Schedule of summarizes activity for nonqualified stock options

The following presents activity for nonqualified stock options during the three months ended March 31, 2022:

				Weighted
		Weighted		Average
	Number	Average		Remaining	Aggregate
	of	Exercise		Contractual	Intrinsic
	Options	Price		Term	Value
Outstanding as of December 31, 2021	308,574	$	29.21
Granted	—		—
Exercised	(2,511)		23.01
Forfeited or expired	(116,100)		40.00
Outstanding as of March 31, 2022	189,963		22.70	2.8	(1)
Options fully vested / exercisable as of March 31, 2022	189,963		22.70	2.8	(1)

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⁽¹⁾ Nonqualified stock options outstanding at the end of the period and those fully vested/exercisable had immaterial aggregate intrinsic values.

Schedule of summarizes the activity for the Time Vesting Units, the Financial Performance Units and the Market Performance Units

	Time	Financial	Market
	Vesting	Performance	Performance
	Units	Units	Units
Outstanding as of December 31, 2021	249,821	183,483	13,746
Granted	—	—	—
Vested	(414)	(12,100)	—
Forfeited	(1,967)	(671)	—
Outstanding as of March 31, 2022	247,440	170,712	13,746

Schedule of financial performance units activity

The following presents the Company’s existing Financial Performance Units as of March 31, 2022 (dollars in thousands, except share amounts):

Grant Period	Threshold Accrual	Maximum Issuable Shares at Current Threshold	Unrecognized Compensation Expense		Weighted-Average (1)	Financial Metric End Date	Vesting Requirement End Date
May 1, 2019 through April 30, 2020	150%	80,255	$	292	1.8 years	December 31, 2021	December 31, 2023
May 1, 2020 through December 31, 2020, excluding November 18, 2020	150%	81,099		400	2.8 years	December 31, 2022	December 31, 2023
On November 18, 2020	150%	34,752		313	2.6 years	December 31, 2022	50% November 18, 2023 & 2025
May 3, 2021 through August 11, 2021	150%	59,963		840	3.8 years	December 31, 2023	December 31, 2025

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⁽¹⁾ Represents the expected unrecognized stock-based compensation expense recognition period.

The following presents the Company’s Financial Performance Units activity for the three months ended March 31 (dollars in thousands, except share amounts):

	Units Granted		Compensation Expense Recognized
Grant Period	2022	2021	2022		2021
Prior to May 1, 2019	—	—	$	—	$	15
May 1, 2019 through April 30, 2020	—	—		61		56
May 1, 2020 through December 31, 2020, excluding November 18, 2020	—	—		53		55
On November 18, 2020		—		30		34
May 3, 2021 through August 11, 2021	—	—		81		—