Share-based Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Total Share-Based Payments Expense

Total share-based payments expense was as follows:

	For the Three Months Ended					For the Six Months Ended
		June 30, 2022		June 30, 2021			June 30, 2022		June 30, 2021
Stock options		$	3,500	$	4,316		$	6,090	$	7,766
Restricted share units			963		332			1,729		449
Total share-based payments		$	4,463	$	4,648		$	7,819	$	8,215

Summary of Stock Option Activity

The following table summarizes the stock option activity for the six months ended June 30, 2022:

	Number of Stock Options			Weighted average remaining contractual life (in years)		Weighted Average Exercise Price (per share) $		Aggregate intrinsic value		Weighted average fair value of nonvested options (per share) $
Outstanding, December 31, 2021		12,854,519			4.84	$	4.85	$	27,557	$	4.22
Granted		4,182,590					5.16
Replacement options granted on acquisition of Gage		4,940,364					2.99
Exercised		(88,015	)				4.04
Forfeited (1)		(649,376	)				8.65
Expired		(396,441	)				8.08
Outstanding, June 30, 2022		20,843,641			4.94	$	4.24		3,615	$	-
Exercisable, June 30, 2022		12,396,267			3.07	$	3.11		3,615	N/A
Nonvested, June 30, 2022		8,447,374			7.69	$	5.89		-	N/A

For stock options forfeited, represents one share for each stock option forfeited.

The total pre-tax intrinsic value (the difference between the market price of the Company’s Common Stock on the exercise date and the price paid by the option holder to the exercise the option) related to stock options exercised is presented below:

	For the Three Months Ended					For the Six Months Ended
		June 30, 2022		June 30, 2021			June 30, 2022		June 30, 2021
Exercised		$	79	$	1,721		$	140	$	4,798

Summary of Weighted-average Assumptions used to Estimate Fair Value of Various Stock Options

The fair value of the replacement options are estimated using the Black-Scholes Option Pricing Model with the following assumptions:

	March 10, 2022
Volatility	55.0%-80.0%
Risk-free interest rate	1.22%-1.94%
Expected life (years)	1.00-5.00
Dividend yield		0	%

The fair value of the various stock options granted was estimated using the Black-Scholes Option Pricing Model with the following assumptions:

	June 30, 2022			December 31, 2021
Volatility	77.55% - 79.04%			79.05% - 81.51%
Risk-free interest rate	1.63% - 3.02%			0.90% - 1.72%
Expected life (years)	9.62 - 10.01			4.57 - 10.05
Dividend yield		0	%		0	%
Forfeiture rate		23.73	%	23.21% - 27.73%

Summary of Activities for Unvested RSUs

The following table summarizes the activities for the unvested RSUs for the three and six months ended June 30, 2022:

	Number of RSUs			Number of RSUs vested		Weighted average remaining contractual life (in years)
Outstanding, December 31, 2021		192,171			13,294	N/A
Granted		573,716
Vested		(58,825	)
Forfeited		(23,250	)
Outstanding, June 30, 2022		683,812			13,050	N/A