Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

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

The Company has computed the fair value of all options granted using the Black-Scholes-Merton model during the three months ended March 31, 2020 and 2019, using the following assumptions:

	Three Month Ended March 31,
	2020	2019
Expected volatility	53%	35%
Expected dividends	None	None
Expected term (years)	7	7
Risk-free rate	0.89%	2.61%
Forfeiture rate	5%	20%

Share-based Payment Arrangement, Option, Activity

The information below summarizes the stock options activity for the three months ended March 31, 2020:

	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Outstanding at December 31, 2019	949,245	$	5.19	6.5
Granted	108,454	14.72
Exercised	(35,500)	3.97
Cancelled	—	—
Outstanding at March 31, 2020	1,022,199	$	6.24	6.8
Exercisable at March 31, 2020	640,123	$	4.73	5.9

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

The information below summaries the restricted stock activity for the three months ended March 31, 2020:

Restricted Stock Awards	Shares	Weighted Average Grant-Date Fair Value per Award
Non-vested at December 31, 2019	38,976	$	12.31
Granted	12,798	14.68
Vested	(2,780)	12.02
Cancelled	—	—
Non-vested at March 31, 2020	48,994	$	12.95