Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Share-Based Payment Arrangement, Option, Activity

The following table summarizes stock option activity during the nine months ended September 30, 2023:

	Stock Options	Weighted- Average Exercise Price
Options outstanding at December 31, 2022	263,992	$	79.07
Granted	186,804	33.36
Exercised	-	-
Forfeited	(46,619)	63.57
Expired	(15,848)	55.67
Options outstanding at September 30, 2023	388,329	$	59.90
Exercisable at September 30, 2023	121,083	$	90.88

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The following table provides the assumptions used in the Black-Scholes pricing model valuation of options during the nine months ended September 30, 2023 and 2022:

	Nine Months Ended September 30,
	2023	2022
Risk-free interest rate	3.55% - 4.55%	1.94% - 3.40%
Expected life (years)	2.00 - 6.25	6.25
Expected volatility	49.23% - 55.92%	45.95% - 46.03%
Expected dividend yield	0%	0%

Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

The following table summarizes restricted stock activity during the nine months ended September 30, 2023:

	Restricted Stock	Weighted- Average Grant Date Fair Value Per Share
Restricted stock at December 31, 2022	478,596	$	70.36
Granted	410,682	32.46
Restrictions lapsed	(137,053)	79.61
Forfeited	(78,769)	65.65
Restricted stock at September 30, 2023	673,456	$	45.83

Schedule of Nonvested Performance-Based Units Activity

The following table summarizes performance stock activity during the nine months ended September 30, 2023:

	Performance Stock	Weighted- Average Grant Date Fair Value Per Share
Performance stock at December 31, 2022	35,802	$	77.91
Granted	71,295	57.79
Restrictions lapsed	-	-
Performance change	-	-
Forfeited	-	-
Performance stock at September 30, 2023	107,097	$	74.08

Schedule of Share-based Payment Award, Awards Other Than Stock Options, Valuation Assumptions

The following table provides the assumptions used in the Monte Carlo pricing model valuation of PSUs during the nine months ended September 30, 2023 and 2022:

	Nine Months Ended September 30,
	2023	2022
Risk-free interest rate	4.35%	1.76% - 3.40%
Expected life (years)	2.88	2.34 - 2.87
Expected volatility	58.00%	53.50% - 53.60%
Expected dividend yield	0%	0%

Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

The following table presents the assumptions used to estimate the fair value of the ESPP during the nine months ended September 30, 2023 and 2022:

	Nine Months Ended September 30,
	2023	2022
Risk-free interest rate	4.60 - 4.82%	0.17 - 2.06%
Expected life (months)	6.00	6.00
Expected volatility	47.38 - 67.84%	47.05 - 53.44%
Expected dividend yield	0%	0%