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Equity-based Awards (Tables)
12 Months Ended
Dec. 31, 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 these awards that are reflected in the accompanying statements of operations for the periods presented (in thousands):

 

 

For the Year Ended

 

 

December 31,

 

 

2020

 

 

2019

 

Equity classified awards

 

 

 

 

 

 

 

TSUs

$

267

 

 

$

1,797

 

PSUs

 

98

 

 

 

981

 

Board RSUs

 

19

 

 

 

264

 

 

$

384

 

 

$

3,042

 

 

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 Director Compensation Plan for the period presented:

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average Grant

 

 

Number of

 

 

Date Fair Value

 

 

Units

 

 

per Unit (1)

 

Board RSUs outstanding at December 31, 2018

 

39,604

 

 

$

11.36

 

Granted (2)

 

42,933

 

 

$

6.95

 

Forfeited

 

 

 

$

 

Vested

 

(49,723

)

 

$

9.54

 

Board RSUs outstanding at August 5, 2019

 

32,814

 

 

$

8.35

 

Ratio to convert Board RSUs (3)

 

0.933

 

 

 

 

 

Converted Board RSUs

 

30,616

 

 

 

 

 

Board RSUs outstanding on August 6, 2019 (4)

 

30,616

 

 

$

5.12

 

Granted

 

 

 

$

 

Forfeited

 

 

 

$

 

Vested

 

(14,459

)

 

$

5.12

 

Board RSUs outstanding at December 31, 2019

 

16,157

 

 

$

5.12

 

Granted

 

 

 

$

 

Forfeited

 

 

 

$

 

Vested

 

(7,259

)

 

$

5.12

 

Board RSUs outstanding at December 31, 2020

 

8,898

 

 

$

5.12

 

 

 

(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 Board RSUs issued for the period from January 1, 2019 through August 5, 2019 was $0.3 million based on a grant date market price of $6.95 per share.

 

(3)

The merger ratio used to convert Legacy Amplify Board RSUs into newly issued Company Board RSUs.

 

(4)

This reflects the unvested Board RSU awards converted into newly issued Board RSUs at August 6, 2019 in which the stock price was at $5.12 per share.

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, 2018

 

598,024

 

 

$

11.35

 

Granted (2)

 

300,517

 

 

$

6.80

 

Forfeited

 

(38,151

)

 

$

11.13

 

Vested

 

(437,834

)

 

$

8.71

 

TSUs outstanding at August 5, 2019

 

422,556

 

 

$

10.87

 

Ratio to convert TSUs (3)

 

0.933

 

 

 

 

 

Converted TSUs

 

394,245

 

 

 

 

 

TSUs outstanding at August 6, 2019 (4)

 

394,245

 

 

$

5.12

 

Granted (5)

 

17,500

 

 

$

6.14

 

Forfeited

 

(38,652

)

 

$

5.12

 

Vested

 

(81,723

)

 

$

5.12

 

TSUs outstanding at December 31, 2019

 

291,370

 

 

$

5.18

 

Granted (6)

 

43,250

 

 

$

3.10

 

Forfeited

 

(93,845

)

 

$

5.12

 

Vested

 

(124,978

)

 

$

5.17

 

TSUs outstanding at December 31, 2020

 

115,797

 

 

$

4.47

 

 

 

(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 period from January 1, 2019 through August 5, 2019 was $2.0 million based on a grant date market price ranging from $4.48 to $8.70 per share.

 

(3)

The merger ratio used to convert Legacy Amplify TSUs into newly issued TSUs.

 

(4)

This reflects the unvested TSUs converted into newly issued Company’s TSUs at August 6, 2019 at a stock price of $5.12 per share.

 

(5)

The aggregate grant date fair value of TSUs issued for the period August 6, 2019 through December 31, 2019 was $0.1 million based on a grant date market price of $6.14 per share.

 

(6)

The aggregate grant date fair value of TSUs issued for the year ended December 31, 2020 was $0.1 million based on a grant date market price 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, 2018

 

393,500

 

 

$

8.14

 

Granted (2)

 

17,750

 

 

$

4.06

 

Forfeited

 

(22,750

)

 

$

7.59

 

Vested

 

 

 

$

 

PSUs outstanding at August 5, 2019

 

388,500

 

 

$

7.98

 

Ratio to convert PSUs (3)

 

0.933

 

 

 

 

 

Converted PSUs

 

362,471

 

 

 

 

 

PSUs outstanding on August 6, 2019 (4)

 

362,471

 

 

$

2.11

 

Granted (5)

 

17,500

 

 

$

2.87

 

Forfeited

 

(74,078

)

 

$

2.11

 

Vested

 

 

 

$

 

PSUs outstanding at December 31, 2019

 

305,893

 

 

$

2.15

 

Granted (6)

 

43,250

 

 

$

3.03

 

Forfeited

 

(134,589

)

 

$

2.11

 

Vested

 

 

 

$

 

PSUs outstanding at December 31, 2020

 

214,554

 

 

$

2.36

 

 

 

(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 period January 1, 2019 through August 5, 2019 was less than $0.1 million based on a calculated fair value price ranging from $1.64 to $6.76 per share.

 

(3)

The merger ratio used to convert Legacy Amplify PSUs into newly issued Company PSUs.

 

(4)

This reflects the unvested PSU awards converted into newly issued PSUs at August 6, 2019 based on a calculated fair value price ranging from $1.64 to $2.63 per share.

 

(5)

The aggregate grant date fair value of PSUs issued for the period August 6, 2019 through December 31, 2019 was less than $0.1 million based on a calculated fair value price ranging from $2.38 to $3.40 per share.

 

(6)

The aggregate grant date fair value of PSUs issued for the year ended December 31, 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 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 and April 1, 2020

 

1.61

%

 

 

1.61

%

 

 

1.61

%

 

 

 

 

 

 

 

 

 

 

 

 

Dividend yield

 

 

 

 

 

 

 

 

 

 

 

Awards Issued on January 1, 2020 and April 1, 2020

 

12.1

%

 

 

12.1

%

 

 

12.1

%

 

 

 

 

 

 

 

 

 

 

 

 

Expected volatility:

 

 

 

 

 

 

 

 

 

 

 

Awards Issued on January 1, 2020 and April 1, 2020

 

60.0

%

 

 

60.0

%

 

 

60.0

%

 

 

 

 

 

 

 

 

 

 

 

 

Calculated fair value per PSU:

 

 

 

 

 

 

 

 

 

 

 

Awards Issued on January 1, 2020 and April 1, 2020

$

3.66

 

 

$

2.98

 

 

$

2.46

 

 

Share price targets

$

12.50

 

 

$

15.00

 

 

$

17.50

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free interest rate:

 

 

 

 

 

 

 

 

 

 

 

Awards Issued on January 1, 2019

 

2.44

%

 

 

2.44

%

 

 

2.44

%

Awards Issued on April 1, 2019

 

2.28

%

 

 

2.28

%

 

 

2.28

%

Awards Issued on July 1, 2019

 

1.73

%

 

 

1.73

%

 

 

1.73

%

Awards Issued on October 1, 2019

 

1.50

%

 

 

1.50

%

 

 

1.50

%

 

 

 

 

 

 

 

 

 

 

 

 

Dividend yield

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expected volatility:

 

 

 

 

 

 

 

 

 

 

 

Awards Issued on January 1, 2019

 

54.0

%

 

 

54.0

%

 

 

54.0

%

Awards Issued on April 1, 2019

 

50.0

%

 

 

50.0

%

 

 

50.0

%

Awards Issued on July 1, 2019

 

57.0

%

 

 

57.0

%

 

 

57.0

%

Awards Issued on October 1, 2019

 

65.0

%

 

 

65.0

%

 

 

65.0

%

 

 

 

 

 

 

 

 

 

 

 

 

Calculated fair value per PSU:

 

 

 

 

 

 

 

 

 

 

 

Awards Issued on January 1, 2019

$

6.76

 

 

$

5.86

 

 

$

5.11

 

Awards Issued on April 1, 2019

$

4.22

 

 

$

3.43

 

 

$

2.80

 

Awards Issued on July 1, 2019

$

2.63

 

 

$

2.05

 

 

$

1.64

 

Awards Issued on October 1, 2019

$

3.40

 

 

$

2.83

 

 

$

2.38