XML 47 R34.htm IDEA: XBRL DOCUMENT

Stock Incentive Plan (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Share-Based Compensation

Stock-based compensation expense is recognized ratably over the requisite service period for all awards. The following tables summarize the Company’s stock-based compensation recorded as a result of applying the provisions of ASC 718 to equity awards:


		Three months ended June 30, 2022				Six months ended June 30, 2022				Unrecognized compensation cost related to non-vested awards as of June 30, 2022				Weighted-average remaining vesting period as of June 30, 2022 (years)
Stock options		$	80,408			$	186,857			$	1,375,558				3.35
RSUs			377,538				740,876				2,916,680				3.03
MSUs			(668,782	)			(1,133,244	)			151,153				1.59
ESPP			1,594				7,065				—				—
Total stock based compensation		$	(209,242	)		$	(198,446	)		$	4,443,392				3.08


		Three months ended June 30, 2021				Six months ended June 30, 2021				Unrecognized compensation cost related to non-vested awards as of December 31, 2021				Weighted-average remaining vesting period as of June 30, 2021 (years)
Stock options		$	189,967			$	463,039			$	1,638,717				2.35
RSUs			376,885				728,329				2,282,174				2.30
MSUs			508,079				893,565				1,927,898				2.59
ESPP			15,143				15,144				—				—
Total stock based compensation			1,090,074				2,100,077				5,848,789				2.41

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

For the six months ended June 30, 2022 and 2021, the grant-date fair value of stock options was estimated at the time of grant using the following weighted-average inputs and assumptions in the Black-Scholes option pricing model:


		For the Six Months Ended June 30,
		2022				2021
Weighted-average expected volatility			52.36	%			52.08	%
Weighted-average expected term (years)			6.25				6.23
Weighted-average expected risk-free interest rate			2.27	%			0.70	%
Dividend yield			—				—
Weighted-average fair value of options granted		$	2.79			$	20.95

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Stock Plan Activity

The following tables summarize the Company’s RSU activity during the six months ended June 30, 2022 and 2021:


		Number of RSUs				Weighted Average Grant Date Fair Value (per share)				Weighted Average Remaining Vesting Term (years)				Aggregate Fair Value
Balance at January 1, 2022			91,438			$	32.91				2.17			$	2,982,931
Granted			445,702				4.74
Exercised/released			(19,061	)			26.92
Cancelled/forfeited			(27,845	)			31.01
Balance at June 30, 2022			490,234			$	7.64				3.26			$	3,747,835


		Number of RSUs				Weighted Average Grant Date Fair Value (per share)				Weighted Average Remaining Vesting Term (years)				Aggregate Fair Value
Balance at January 1, 2021			57,187			$	33.16				2.08			$	1,896,221
Granted			45,745				39.99
Exercised/released			(3,000	)			47.99
Cancelled/forfeited			(2,742	)			25.67
Balance at June 30, 2021			97,190			$	36.13				2.30			$	3,511,288

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Stock Plan Activity

The following tables summarize the Company’s stock option activity:


		Options Activity				Weighted Average Exercise Price (per share)				Weighted Average Remaining Contractual Term (years)				Aggregate Intrinsic Value
Balance at January 1, 2022			747,800			$	11.51				6.57			$	1,143,013
Granted			453,498				7.21
Exercised/released			(76,750	)			2.14
Cancelled/forfeited			(192,283	)			17.05
Balance at June 30, 2022			932,265			$	9.02				7.81			$	—
Exercisable at June 30, 2022			419,565			$	9.76				5.82			$	—


		Options Activity				Weighted Average Exercise Price (per share)				Weighted Average Remaining Contractual Term (years)				Aggregate Intrinsic Value
Balance at January 1, 2021			887,640			$	9.65				6.42			$	33,433,274
Granted			54,883				42.27
Exercised/released			(50,602	)			8.06
Cancelled/forfeited			(38,500	)			9.27
Balance at June 30, 2021			853,421			$	11.87				7.17			$	15,365,736
Exercisable at June 30, 2021			579,449			$	7.84				6.50			$	12,763,447

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Stock Plan Activity

The following tables summarize the Company’s market-based stock unit ("MSU") activity during the six months ended June 30, 2022 and 2021:


		Number of MSUs				Weighted Average Grant Date Fair Value (per share)				Weighted Average Remaining Vesting Term (years)				Aggregate Fair Value
Balance at January 1, 2022			160,301			$	43.53				1.20			$	6,977,903
Granted			—				—
Exercised/released			—				—
Cancelled/forfeited			(129,218	)			43.53
Balance at June 30, 2022			31,083			$	43.53				0.87			$	1,353,043


		Number of MSUs				Weighted Average Grant Date Fair Value (per share)				Weighted Average Remaining Vesting Term (years)				Aggregate Fair Value
Balance at January 1, 2021			—			$	—				—			$	—
Granted			189,608				43.53
Exercised/released			—				—
Cancelled/forfeited			—				—
Balance at June 30, 2021			189,608			$	43.53				1.56			$	8,253,636