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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of stock-based compensation expense

Stock-based compensation expense

 

 

For the Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Equity-settled awards

 

 

2,331

 

 

 

3,943

 

 

 

4,453

 

Cash-settled awards

 

 

(25

)

 

 

334

 

 

 

260

 

 

 

2,306

 

 

 

4,277

 

 

 

4,713

 

 

Summary of PSUs, DSUs and RSUs granted, exercised, forfeited and expired

The following summarizes RSUs, Share Awards, PSUs, and DSUs activity during the periods:

 

 

RSU Time-

 

 

RSU Performance-

 

 

Share

 

 

 

 

 

 

 

 

 

Based

 

 

Based

 

 

Awards

 

 

PSU

 

 

DSU

 

 

 

Number of

 

 

Number of

 

 

Number of

 

 

Number of

 

 

Number of

 

 

 

units

 

 

units

 

 

units

 

 

units

 

 

units

 

Outstanding at December 31, 2021

 

 

3,216,536

 

 

 

1,021,739

 

 

 

-

 

 

 

157,200

 

 

 

361,577

 

Granted

 

 

2,157,149

 

 

 

863,279

 

 

 

222,170

 

 

 

-

 

 

 

1,305,658

 

Vested or settled

 

 

(2,199,034

)

 

 

(796,011

)

 

 

(154,016

)

 

 

-

 

 

 

(501,916

)

Withheld to settle employee tax obligations

 

 

(526,346

)

 

 

(242,460

)

 

 

(68,154

)

 

 

-

 

 

 

-

 

Forfeited

 

 

(762,968

)

 

 

(502,628

)

 

 

-

 

 

 

(157,200

)

 

 

-

 

Outstanding at December 31, 2022

 

 

1,885,337

 

 

 

343,919

 

 

 

-

 

 

 

-

 

 

 

1,165,319

 

Granted

 

 

3,599,500

 

 

 

-

 

 

 

522,883

 

 

 

2,584,161

 

 

 

2,276,731

 

Vested or settled

 

 

(1,105,225

)

 

 

(258,760

)

 

 

(522,883

)

 

 

-

 

 

 

(355,878

)

Withheld to settle employee tax obligations

 

 

(64,230

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Forfeited

 

 

(783,655

)

 

 

(21,130

)

 

 

-

 

 

 

(738,553

)

 

 

-

 

Expired

 

 

(1,163

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Outstanding at December 31, 2023

 

 

3,530,564

 

 

 

64,029

 

 

 

-

 

 

 

1,845,608

 

 

 

3,086,172

 

Schedule of Percentage of PRSUs Vest upon Increases of Share Price

Based on share price performance since the date of grant, none of the 2022 PRSUs and 66.7% of the 2021 PRSUs will vest upon completion of the three-year service period.

 

 

% of PRSUs Vesting

 

 

 

 

 

 

33.3

%

 

 

66.7

%

 

 

100.0

%

 

 

150.0

%

2021 and 2022 PRSUs

 

 

 

$

3.00

 

 

$

4.00

 

 

$

5.00

 

 

$

7.00

 

Summary of options granted, exercised, surrendered, forfeited and expired

The following summarizes options granted, forfeited and expired during the periods:

 

 

 

 

 

Number of

 

 

Weighted average

 

 

 

 

 

options

 

 

exercise price C$

 

Outstanding at December 31, 2021

 

 

 

 

4,064,489

 

 

 

6.64

 

Forfeited or expired

 

 

 

 

(2,584,420

)

 

 

6.41

 

Outstanding at December 31, 2022

 

 

 

 

1,480,069

 

 

 

7.03

 

Forfeited or expired

 

 

 

 

(1,270,660

)

 

 

7.00

 

Outstanding at December 31, 2023

 

 

 

 

209,409

 

 

 

7.71

 

Exercisable at December 31, 2023

 

 

 

 

209,409

 

 

 

7.71

 

 

Summary of options outstanding by range of exercise prices

Range of exercise prices outstanding at December 31, 2023:

 

 

 

Options outstanding

 

 

Options exercisable

 

 

 

 

 

 

Weighted

 

 

Weighted

 

 

 

 

 

Weighted

 

 

Weighted

 

 

 

 

 

 

average

 

 

average

 

 

 

 

 

average

 

 

average

 

 

 

Number

 

 

remaining

 

 

exercise

 

 

Number

 

 

remaining

 

 

exercise

 

 Range of exercise prices

 

outstanding

 

 

life

 

 

price C$

 

 

exercisable

 

 

life

 

 

price C$

 

C$6.01 – C$7.00

 

 

16,350

 

 

 

0.71

 

 

$

6.12

 

 

 

16,350

 

 

 

0.71

 

 

$

6.12

 

C$7.01 – C$8.00

 

 

193,059

 

 

 

0.38

 

 

$

7.84

 

 

 

193,059

 

 

 

0.38

 

 

$

7.84

 

Total

 

 

209,409

 

 

 

 

 

 

 

 

 

209,409

 

 

 

 

 

 

 

 

 

Range of exercise prices outstanding at December 31, 2022:

 

 

Options outstanding

 

 

Options exercisable

 

 

 

 

 

 

Weighted

 

 

Weighted

 

 

 

 

 

Weighted

 

 

Weighted

 

 

 

 

 

 

average

 

 

average

 

 

 

 

 

average

 

 

average

 

 

 

Number

 

 

remaining

 

 

exercise

 

 

Number

 

 

remaining

 

 

exercise

 

 Range of exercise prices

 

outstanding

 

 

life

 

 

price C$

 

 

exercisable

 

 

life

 

 

price C$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C$4.01 – C$6.00

 

 

15,025

 

 

 

1.89

 

 

 

4.12

 

 

 

15,025

 

 

 

1.89

 

 

 

4.12

 

C$6.01 – C$7.00

 

 

758,142

 

 

 

1.07

 

 

 

6.33

 

 

 

758,142

 

 

 

1.07

 

 

 

6.33

 

C$7.01 – C$8.00

 

 

706,902

 

 

 

1.37

 

 

 

7.84

 

 

 

706,902

 

 

 

1.37

 

 

 

7.84

 

Total

 

 

1,480,069

 

 

 

 

 

 

 

 

 

1,480,069