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Share-Based Payment
 12 Months Ended
Dec. 31, 2019
Share-Based Payment [Abstract]  
SHARE-BASED PAYMENT

NOTE 18: SHARE-BASED PAYMENT

 

a.The expense recognized in the financial statements for services received is shown in the following table:

 

   Year ended
December 31,		 
   2019   2018   2017 
Equity-settled share-based payment plans to employees, directors and consultants  $1,263   $710   $1,028 

 

b.The share-based payment transactions that the Company granted to its employees, directors and consultants are shown in the following table:

 

Issuance Date  Grantee  Options
outstanding
as of
December 31,
2019		   Exercise
price
NIS		   Exercise
price $*)		   Exercisable
as of
December 31,
2019		   Exercisable
Through		  Total
Fair
Value $		 
December 8, 2015  Employees and Consultant   292,250    25.99    6.70    292,250   December 8, 2025   1,053 
December 8, 2015  Employees and Consultant   270,000    31.19    8.04    270,000   December 8, 2025   1,247 
April 1, 2017  Chief Executive Officer and Director   566,262    19.97    5.47    566,262   April 1, 2025   1,100 
December 3, 2017  Director   27,500    21.37    6.12    9,167   December 3, 2027   54 
November 12, 2018  Directors   110,000    23.39    6.36    —   November 12, 2026   298 
November 12, 2018  Employees and officers   672,600    23.39 - 24.22    6.36 - 6.59    —   November 12, 2026   2,299 
October 1, 2019  Chief Financial and Operating Officer   50,000    19.08    5.48    —   October 1, 2027   100 

 

 

*)As of grant date.

 

c.The fair value of the Company's options granted for the years ended December 31, 2019, 2018 and 2017 was estimated using the Binomial model with the following assumptions:

 

   Year ended December 31, 
   2019   2018   2017 
Dividend yield (%)   0    0    0 
Expected volatility (%)   40.06 - 48.09    40.51 - 48.25    40.58 - 56.77 
Risk-free interest rate (%)   1.61 – 1.73    0.28 - 2.22    0.11 - 2.00 
Expected exercise factor   2.8    2.8    2.8 
Post-vesting forfeiture rate (%)   5    5    5 - 10 

 

d.Movement during the year:

 

   Year ended December 31, 
   2019   2018 
   Number of
options		   Weighted
average
exercise
price(*)		   Number of
options		   Weighted
average
exercise
price(*)		 
       $       $ 
Outstanding at January 1,   2,425,192   $6.6    1,721,059   $7.9 
Granted   50,000    5.5    962,300    6.3 
Expired   (59,765)   7.5    (199,499)   10.8 
Forfeited   (201,615)   7.0    (58,668)   7.9 
                     
Outstanding at December 31,   2,213,812   $7.1    2,425,192   $6.6 
                     
Exercisable at December 31,   1,362,879   $7.38    912,893   $7.17 

 

 

(*)The exercise price of all options denominated in NIS and was translated to USD in the table above using the exchange rate as of December 31, 2019 and 2018, respectively.

 

The weighted average remaining contractual life for the options outstanding as of December 31, 2019 and 2018 was approximately six years.

 

The range of exercise prices for options outstanding as of December 31, 2019 and 2018 was NIS 19.08-59.13.