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Long-Term Incentive Plans (Tables)
9 Months Ended
Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Amount of Compensation Expense Recognized

The following table summarizes the amount of recognized compensation expense associated with the Legacy Amplify MIP and Legacy Amplify Non-Employee Directors Compensation Plan, which are reflected in the accompanying Unaudited Condensed Statements of Consolidated Operations for the periods presented (in thousands):

 

For the Three Months Ended

 

 

For the Nine Months Ended

 

 

September 30,

 

 

September 30,

 

 

2020

 

 

2019

 

 

2020

 

 

 

2019

 

Equity classified awards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TSUs

$

59

 

 

$

650

 

 

$

184

 

 

 

$

1,852

 

PSUs

 

30

 

 

 

120

 

 

 

69

 

 

 

 

825

 

Board RSUs

 

4

 

 

 

58

 

 

 

15

 

 

 

 

221

 

 

$

93

 

 

$

828

 

 

$

268

 

 

 

$

2,898

 

2017 Non-Employee Directors Compensation Plan [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Information Regarding Restricted Stock Unit Awards

The following table summarizes information regarding the Board RSUs granted under the Legacy Amplify Non-Employee Directors Compensation Plan for the period presented:

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average Grant

 

 

Number of

 

 

Date Fair Value

 

 

Units

 

 

per Unit (1)

 

Board RSUs outstanding at December 31, 2019

 

16,157

 

 

$

5.12

 

Granted

 

 

 

$

 

Forfeited

 

 

 

$

 

Vested

 

(7,259

)

 

$

5.12

 

Board RSUs outstanding at September 30, 2020

 

8,898

 

 

$

5.12

 

 

 

(1)

Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.

TSUs [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Information Regarding Restricted Stock Unit Awards

The following table summarizes information regarding the TSUs granted under the Legacy Amplify MIP for the period presented:

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average Grant

 

 

Number of

 

 

Date Fair Value

 

 

Units

 

 

per Unit (1)

 

TSUs outstanding at December 31, 2019

 

291,370

 

 

$

5.18

 

Granted (2)

 

43,250

 

 

$

3.10

 

Forfeited

 

(92,912

)

 

$

5.12

 

Vested

 

(76,153

)

 

$

5.12

 

TSUs outstanding at September 30, 2020

 

165,555

 

 

$

4.70

 

 

 

(1)

Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.

 

(2)

The aggregate grant date fair value of TSUs issued for the nine months ended September 30, 2020 was $0.1 million based on a grant date market price of ranging from $0.54 to $6.61 per share.

PSUs [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Information Regarding Restricted Stock Unit Awards

The following table summarizes information regarding the PSUs granted under the Legacy Amplify MIP for the period presented:

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average Grant

 

 

Number of

 

 

Date Fair Value

 

 

Units

 

 

per Unit (1)

 

PSUs outstanding at December 31, 2019

 

305,893

 

 

$

2.15

 

Granted (2)

 

43,250

 

 

$

3.03

 

Forfeited

 

(131,790

)

 

$

2.11

 

Vested

 

 

 

$

 

PSUs outstanding at September 30, 2020

 

217,353

 

 

$

2.35

 

 

 

(1)

Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.

 

(2)

The aggregate grant date fair value of PSUs issued for the nine months ended September 30, 2020 was $0.1 million based on a calculated fair value price ranging from $2.46 to $3.66 per share.

Schedule of Fair Value Assumptions for PSUs

A Monte Carlo simulation was used in order to determine the fair value of these awards at the grant date.

The assumptions used to estimate the fair value of the PSUs are as follows:

Share price targets

$

12.50

 

 

$

15.00

 

 

$

17.50

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free interest rate:

 

 

 

 

 

 

 

 

 

 

 

Awards Issued on January 1, 2020

 

1.61

%

 

 

1.61

%

 

 

1.61

%

 

 

 

 

 

 

 

 

 

 

 

 

Dividend yield

 

 

 

 

 

 

 

 

 

 

 

Awards Issued on January 1, 2020

 

12.1

%

 

 

12.1

%

 

 

12.1

%

 

 

 

 

 

 

 

 

 

 

 

 

Expected volatility:

 

 

 

 

 

 

 

 

 

 

 

Awards Issued on January 1, 2020

 

60.0

%

 

 

60.0

%

 

 

60.0

%

 

 

 

 

 

 

 

 

 

 

 

 

Calculated fair value per PSU:

 

 

 

 

 

 

 

 

 

 

 

Awards Issued on January 1, 2020

$

3.66

 

 

$

2.98

 

 

$

2.46