XML 47 R35.htm IDEA: XBRL DOCUMENT v3.22.1
Stockholders' Equity (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Equity [Abstract]    
Summary of Stock Option Activity

A summary of stock option activity for the period ended March 31, 2022 is as follows:

 

 

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

 

Contractual Life

 

 

Aggregate

 

 

 

Number of

 

 

Weighted Average

 

 

Remaining

 

 

Intrinsic Value

 

 

 

Shares

 

 

Exercise Price

 

 

(in years)

 

 

(whole dollars)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2021

 

 

7,095,936

 

 

$

3.71

 

 

 

7.45

 

 

$

73,156,722

 

Granted

 

 

1,323,733

 

 

 

12.28

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Settled

 

 

(1,120,000

)

 

 

0.41

 

 

 

 

 

 

 

Expired/Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding as of March 31, 2022

 

 

7,299,669

 

 

$

5.95

 

 

 

8.08

 

 

$

43,865,350

 

Exercisable as of March 31, 2022

 

 

363,445

 

 

$

4.09

 

 

 

6.67

 

 

$

2,920,165

 

 
Summary of Weighted Average Assumptions Used In Calculating Fair Value of Stock Options Granted

The weighted average assumptions used in calculating the fair value of stock options granted during the three months ended March 31, 2022 and March 31, 2021 were as follows:

 

 

 

For the Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Expected life

 

7.5 (yrs)

 

 

7.5 (yrs)

 

Expected volatility

 

 

35.40

%

 

 

41.70

%

Risk-free interest rate

 

 

1.83

%

 

 

0.79

%

Expected dividend yield

 

 

0.00

%

 

 

0.00

%

 
Summary of Restricted Stock Activity  

The Company has granted restricted stock awards ("RSAs") to certain employees. Holders of RSAs have no voting rights and are not eligible to receive dividends or other distributions paid with respect to any RSAs that have not vested. All of the shares currently vest one year from the grant date.

 

 

 

Number of

 

 

Weighted-Average Grant

 

 

 

RSAs

 

 

Date Fair Value Per RSA

 

Outstanding as of December 31, 2021

 

 

36,033

 

 

$

11.24

 

Granted

 

 

 

 

 

 

Vested

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

Outstanding as of March 31, 2022

 

 

36,033

 

 

$

11.24

 

Summary of Restricted Stock Units

The Company has granted restricted stock units ("RSUs") to certain employees. Holders of RSUs have no voting rights and are not eligible to receive dividends or other distributions paid with respect to any RSUs that have not vested. All of the shares currently vest one year from the grant date.

 

 

 

Number of

 

 

Weighted-Average Grant

 

 

 

RSUs

 

 

Date Fair Value Per RSU

 

Outstanding as of December 31, 2021

 

 

59,654

 

 

$

12.74

 

Granted

 

 

508,135

 

 

 

12.30

 

Vested

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

Outstanding as of March 31, 2022

 

 

567,789

 

 

$

12.35