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STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of stock-based compensation expense

Stock-based compensation expense

 

 

 

For the Three Months Ended March 31,

 

 

 

2021

 

 

2020

 

Equity-settled awards

 

 

796

 

 

 

663

 

Cash-settled awards

 

 

298

 

 

 

(202

)

 

 

 

1,094

 

 

 

461

 

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

The following summarizes PSUs, DSUs and RSUs (as defined below) granted, exercised, forfeited and expired during the periods:

 

 

 

RSU Time-

 

 

RSU Performance-

 

 

 

 

 

 

 

 

 

 

 

Based

 

 

Based

 

 

DSU

 

 

PSU

 

 

 

Number of

 

 

Number of

 

 

Number of

 

 

Number of

 

 

 

units

 

 

units

 

 

units

 

 

units

 

Outstanding at December 31, 2019

 

 

-

 

 

 

-

 

 

 

132,597

 

 

 

223,052

 

Granted

 

 

-

 

 

 

-

 

 

 

83,915

 

 

 

-

 

Forfeited

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(25,581

)

Outstanding at March 31, 2020

 

 

-

 

 

 

-

 

 

 

216,512

 

 

 

197,471

 

Outstanding at December 31, 2020

 

 

2,414,066

 

 

 

200,000

 

 

 

363,664

 

 

 

197,471

 

Granted

 

 

1,890,987

 

 

 

878,601

 

 

 

31,837

 

 

 

-

 

Forfeited

 

 

(5,588

)

 

 

-

 

 

 

-

 

 

 

-

 

Outstanding at March 31, 2021

 

 

4,299,465

 

 

 

1,078,601

 

 

 

395,501

 

 

 

197,471

 

Schedule of Percentage of PRSUs Vest upon Increases of Share Price

The Company granted to certain executives and senior employees restricted share units with service and performance-based conditions for vesting (the “PRSUs”). If the Company’s share price increases to certain values for 20 consecutive trading days, as outlined below, a percentage of the PRSUs will vest at the end of the three-year service period. The grant date fair value of the PRSUs were valued using the Monte Carlo valuation method and determined to have a weighted average grant date fair value of C$3.27 (2020 – C$1.70).  

 

 

% of PRSUs vesting

 

33.3%

50.0%

66.7%

100.0%

150.0%

2021 PRSUs

$3.00

-

$4.00

$5.00

$7.00

2020 PRSUs

-

C$3.00

-

C$4.00

C$6.00

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

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

 

 

 

Number of

 

 

Weighted average

 

 

 

options

 

 

exercise price C$

 

Outstanding at December 31, 2019

 

 

6,156,652

 

 

 

6.49

 

Forfeited

 

 

(523,549

)

 

 

6.80

 

Outstanding at March 31, 2020

 

 

5,633,103

 

 

 

6.46

 

Outstanding at December 31, 2020

 

 

4,774,328

 

 

 

6.52

 

Forfeited

 

 

(3,213

)

 

 

6.81

 

Outstanding at March 31, 2021

 

 

4,771,115

 

 

 

6.52

 

Exercisable at March 31, 2021

 

 

2,065,938

 

 

 

6.35

 

 

Summary of options outstanding by range of exercise prices

Range of exercise prices outstanding at March 31, 2021:

 

 

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$5.00

 

 

22,537

 

 

 

3.64

 

 

 

4.12

 

 

 

7,513

 

 

 

3.64

 

 

 

4.12

 

C$5.01 – C$6.00

 

 

669,236

 

 

 

0.64

 

 

 

5.76

 

 

 

669,236

 

 

 

0.64

 

 

 

5.76

 

C$6.01 – C$7.00

 

 

3,298,644

 

 

 

2.54

 

 

 

6.38

 

 

 

1,126,772

 

 

 

2.59

 

 

 

6.34

 

C$7.01 – C$8.00

 

 

780,698

 

 

 

3.13

 

 

 

7.84

 

 

 

262,417

 

 

 

3.13

 

 

 

7.84

 

Total

 

 

4,771,115

 

 

 

 

 

 

 

 

 

 

 

2,065,938