SHAREHOLDERS EQUITY (Tables)

9 Months Ended

Sep. 30, 2022

SHAREHOLDERS EQUITY

Schedule of summarizes activity for nonqualified stock options

The following presents activity for nonqualified stock options during the nine months ended September 30, 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		(8,309)		21.50
Forfeited or expired		(116,100)		40.00
Outstanding as of September 30, 2022		184,165		22.76		2.3		(1)
Options fully vested / exercisable as of September 30, 2022		184,165		22.76		2.3		(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	156,453	91,901	—
Vested	(79,071)	(12,100)	—
Forfeited	(28,050)	(21,241)	(13,746)
Outstanding as of September 30, 2022	299,153	242,043	—

Schedule of financial performance units activity

The following presents the Company’s existing Financial Performance Units as of September 30, 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	%	71,547	$	188	1.3 years	December 31, 2021	December 31, 2023
May 1, 2020 through December 31, 2020, excluding November 18, 2020	150		75,846		306	2.3 years	December 31, 2022	December 31, 2023
November 18, 2020	116		25,221		262	2.1 years	December 31, 2022	50% November 18, 2023 & 2025
May 3, 2021 through August 11, 2021	150		55,413		673	3.3 years	December 31, 2023	December 31, 2025
May 2, 2022	52		29,996		2,619	4.3 years	December 31, 2024	December 31, 2026
August 4, 2022	100		27,272		723	4.3 years	December 31, 2024	December 31, 2026

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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 during the periods presented (dollars in thousands, except share amounts):

	Units Granted				Compensation Expense Recognized
	Nine Months Ended September 30,				Three Months Ended September 30,				Nine Months Ended September 30,
Grant Period	2022		2021		2022		2021			2022	2021
Prior to May 1, 2019		—		—	$	—	$	5	$	—	$	23
May 1, 2019 through April 30, 2020		—		—		4		37		94		154
May 1, 2020 through December 31, 2020, excluding November 18, 2020		—		—		45		44		127		153
November 18, 2020				—		(1)		30		27		94
May 3, 2021 through August 11, 2021		—		41,743		72		83		211		140
May 2, 2022		64,629		—		31		—		89		—
August 4, 2022		27,272		—		28		—		28		—