Certain employees of the Company participate in the equity-based compensation plan of Privateer Holdings, Inc. (the “Original Plan”) under the terms and valuation method detailed in our annual financial statements. For the three months ended March 31, 2021, the total stock-based compensation expense associated with the Original Plan was $57 (2020 – $162). As of March 31, 2021 the total remaining unrecognized stock-based compensation expense related to non-vested stock options under the Original Plan amounted to $193 which will be recognized over the weighted-average remaining requisite service period of approximately 0.6 years.

	Stock options			Weighted- average exercise price		Weighted- average remaining contractual term (years)		Aggregate intrinsic value
Balance December 31, 2020		1,789,750		$	3.62		3.8	$	25,077
Exercised		(757,318	)		3.17
Forfeited		—			—
Cancelled		(80	)		4.72
Balance March 31, 2021		1,032,352		$	3.93		4.3	$	13,660
Vested and expected to vest, March 31, 2021		986,020		$	3.91		4.3	$	13,618
Vested and exercisable, March 31, 2021		945,951		$	3.72		4.2	$	13,200

No stock options were granted under the Original Plan during the three months ended March 31, 2021 and March 31, 2020. The total fair value of stock options vested as of March 31, 2021 was $61 (2020 – $169).

The Company adopted the 2018 Equity Incentive Plan (the “2018 EIP”) as amended and approved by stockholders in May 2018 under the terms and valuation methods detailed in the Annual Financial Statements. The number of shares of Class 2 common stock reserved for issuance under the 2018 EIP automatically increases on January 1 of each calendar year, for a period of not more than ten years, starting on January 1, 2019 and ending on and including January 1, 2027, in an amount equal to 4% of the total number of shares of our common stock outstanding on December 31 of the prior calendar year, or a lesser number of shares determined by our Board of Directors. The shares reserved include only the outstanding shares related to stock options and RSUs and excludes stock options outstanding under the Original Plan. The number of shares reserved for issuance under the 2018 EIP is 23,375,665, effective as of January 1, 2021 (December 31, 2020 – 17,037,421). For the three months ended March 31, 2021, total stock-based compensation expense associated with the 2018 EIP was $7,084 (2020 – $7,515). As of March 31, 2021, the total remaining unrecognized stock-based compensation expense related to non-vested stock options and restricted stock units (“RSUs”) under the 2018 EIP amounted to $29,883 which will be recognized over the weighted average remaining requisite service period of approximately 1.63 years.

	Stock options			Weighted- average exercise price		Weighted- average remaining contractual term (years)		Aggregate intrinsic value
Balance December 31, 2020		3,909,559		$	15.25		7.4	$	1,700,194
Granted		—			—
Exercised		(471,211	)		7.76
Forfeited		(33,291	)		8.46
Cancelled		(36,414	)		42.61
Balance March 31, 2021		3,368,643		$	16.02		7.2	$	43,421
Vested and expected to vest, March 31, 2021		3,360,695		$	15.87		7.2	$	43,213
Vested and exercisable, March 31, 2021		2,902,957		$	13.77		7.2	$	38,916

The weighted-average fair values of stock options granted during the three months ended March 31, 2021 was $0 per share (2020 – $0). The total fair value of stock options vested in 2021 was $2,547 (2020 – $25,426).

	Time-based RSUs			Weighted-average grant-date fair value per share
Non-vested December 31, 2020		1,884,390		$	15.22
Granted		350,311			20.02
Vested		(289,388	)		15.59
Forfeited		(170,641	)		11.84
Non-vested March 31, 2021		1,774,672		$	16.33

During the three months ended March 31, 2021, 350,311 (2020 – 752,283) time-based RSUs were granted. During the three months ended March 31, 2021, 289,388 (2020 – 154,642) time-based RSUs vested.

	Performance-based RSUs			Weighted-average grant-date fair value per share
Non-vested December 31, 2020		540,836		$	7.13
Vested		(341,543	)		7.18
Non-vested March 31, 2021		199,293		$	7.05

No performance-based RSUs were granted during the three months ended March 31, 2021 (2020 – none). During the three months ended March 31, 2021, 341,543 (2020 – 53,125) performance-based RSUs vested .