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Share Capital (Tables)
6 Months Ended
Jun. 30, 2022
Disclosure of Share Capital [Line Items]  
Schedule of Common Stock Outstanding Roll Forward

(b) Issued and Outstanding

A reconciliation of the beginning and ending amounts of the issued and outstanding shares by class is as follows:

 

 

 

Issued and Outstanding

 

 

 

Subordinate
Voting
Shares

 

 

Multiple
Voting
Shares

 

 

Super
Voting
Shares

 

As at January 1, 2022

 

 

201,768,312

 

 

 

38,531

 

 

 

285,031

 

Issuance of shares under business combinations and investments

 

 

204,036

 

 

 

 

 

 

 

Distribution of contingent consideration

 

 

667,080

 

 

 

 

 

 

 

Issuance of shares upon exercise of options and warrants

 

 

177,044

 

 

 

 

 

 

 

Issuances of shares upon vesting of RSUs

 

 

336,005

 

 

 

 

 

 

 

Shares issued for settlement of business obligation

 

 

80,588

 

 

 

 

 

 

 

Exchange of shares

 

 

500,000

 

 

 

 

 

 

(5,000

)

As at June 30, 2022

 

 

203,733,065

 

 

 

38,531

 

 

 

280,031

 

 

 

Share-based Payment Arrangement, Option, Activity

Stock option activity is summarized as follows:

 

 

Number of Shares

 

Weighted Average Exercise Price C$

 

Weighted Average Remaining Contractual Life

 

Aggregate Intrinsic Value

 

 

(in thousands)

 

Balance as of December 31, 2021

 

5,383,275

 

 

18.07

 

 

3.59

 

$

48,803

 

Granted

 

959,702

 

 

23.28

 

 

6.45

 

 

 

Exercised

 

(177,044

)

 

11.72

 

 

 

 

1,316

 

Forfeited

 

(129,084

)

 

22.70

 

 

 

 

 

Balance as of June 30, 2022

 

6,036,849

 

 

18.99

 

 

3.58

 

$

1,083

 

Vested

 

4,515,359

 

 

14.44

 

 

 

 

 

Exercisable of June 30, 2022

 

3,065,200

 

 

15.17

 

 

2.85

 

$

704

 

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

The Company used the Black-Scholes option pricing model to estimate the fair value of the options granted during the six months ended June 30, 2022 and the year ended December 31, 2021, using the following ranges of assumptions:

 

 

June 30,

December 31,

 

2022

2021

Risk-free interest rate

1.18% - 2.87%

0.33% - 1.39%

Expected dividend yield

0%

0%

Expected volatility

60 - 64%

73%

Expected option life

3 – 4.5 years

3 – 3.5 years

Schedule of Stock-Based Compensation Expense

The stock-based compensation expense for the three and six months ended June 30, 2022 and 2021 was as follows:

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2022

 

2021

 

2022

 

2021

 

 

(in thousands)

 

(in thousands)

Stock options expense

$

3,775

$

3,709

$

6,982

$

6,338

Restricted Stock Units

 

3,058

 

1,963

 

4,502

 

3,365

Total Stock Based Compensation Expense

$

6,833

$

5,672

$

11,484

$

9,703

Summary Of Weighted Average Grant Date Fair Value And Intrinsic Value Of Options Exercised

The following table summarizes the weighted average grant date fair value and intrinsic value of options exercised for the six months ended June 30, 2022 and 2021:

 

 

Six Months Ended June 30,

 

 

2022

 

2021

 

Weighted average grant date fair value (per share) of stock option units granted (C$)

 

9.21

 

 

14.80

 

Intrinsic value of stock option units exercised, using market price at vest date (US$) (in thousands)

$

1,316

 

$

10,969

 

Restricted Stock Units  
Disclosure of Share Capital [Line Items]  
Non-vested Restricted Stock Shares Activity

The following table summarizes the number of unvested RSU awards as of June 30, 2022 and December 31, 2021 and the changes during the six months ended June 30, 2022:

 

 

 

Number of Shares

 

Weighted Average Grant Date Fair Value (C$)

Unvested Shares at December 31, 2021

 

376,127

 

20.39

Granted

 

1,021,221

 

23.21

Forfeited

 

                 (36,684)

 

23.71

Vested

 

               (336,005)

 

19.77

Unvested Shares at June 30, 2022

 

1,024,659

 

23.35

Summary Of Weighted Average Grant Date Fair Value And Intrinsic Value Of Options Exercised

The following table summarizes the weighted average grant date fair value of RSUs granted and total fair value of RSUs vested for the six months ended June 30, 2022 and 2021:

 

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

Weighted average grant date fair value (per share)
of RSUs granted (C$)

 

 

23.21

 

 

 

38.37

 

Intrinsic value of RSUs vested, using market
   price at vest date (US$)
 (in thousands)

$

 

5,697

 

$

 

9,255