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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Options Outstanding The following table sets forth the summary of options activity under the Plans (dollars in thousands except per share data):
Number of SharesWeighted Average Exercise PriceWeighted Average Remaining Contractual Life (in years)
Aggregate Intrinsic Value(1)
Options outstanding as of December 31, 2018—  $—  0.00—  
Granted6,212,609  11.58  
Exercised—  —  
Forfeited options(90,565) 11.79  
Options outstanding as of December 31, 20196,122,044  11.58  9.83—  
Granted334,894  13.87  
Exercised—  
Forfeited options(114,516) 11.79  
Options outstanding at March 31, 2020 (Unaudited)
6,342,422  11.69  9.56—  
Options exercisable at March 31, 2020 (Unaudited)
—  $—  9.56—  
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(1) Aggregate intrinsic value is calculated based on the difference between our closing stock price at year end and the exercise price, multiplied by the number of in-the-money options and represents the pre-tax amount that would have been received by the option holders, had they all exercised all their options on the fiscal year end date.
Schedule of Restricted Stock Units Activity
RSU activity during the three months ended March 31, 2020 and year ended December 31, 2019 was as follows:
SharesWeighted Average Fair Value
Outstanding at December 31, 2018—  $—  
Granted1,795,209  7.11  
Vested—  —  
Forfeited(27,495) 7.11  
Outstanding at December 31, 20191,767,714  7.11  
Granted283,801  14.69  
Vested—  
Forfeited(35,497) 7.11  
Outstanding at March 31, 2020 (Unaudited)
2,016,018  $8.18  
Schedule of Weighted Average Assumptions
The weighted average assumptions used to value the option grants are as follows:
As of
March 31, 2020December 31, 2019
(Unaudited)
Expected life (in years)6.06.0
Volatility75.3 %75.0 %
Risk free interest rate1.6 %1.7 %
Dividend yield— %— %
2014 Stock Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Options Outstanding
Options outstanding
Shares
available
for grant
Number of
shares
granted
Weighted-
average
exercise
price
Weighted-
average
contractual
term
(in years)
Balances as of December 31, 20161,775,660  840,525  $7.50  5.14
Authorized—  —  
Granted(167,750) 167,750  8.66  
Forfeited750  (750) 9.66  
Balances as of December 31, 20171,608,660  1,007,525  7.69  4.50
Authorized—  —  
Granted(1,000) 1,000  9.44  
Forfeited134,125  (134,125) 7.72  
Balances as of December 31, 20181,741,785  874,400  7.70  3.53
Authorized—  —  
Granted—  —  —  
Forfeited154,775  (154,775) 7.68  
Cancelled(1,896,560) (719,625) 7.70  
Balances as of October 25, 2019—  —  $—  0.00