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Long-Term Incentive Plans (Tables)
6 Months Ended
Jun. 30, 2022
Share-based Payment Arrangement [Abstract]  
Schedule of assumptions used to calculate compensation expense

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June 30, 

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December 31, 

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2022

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2021

Expected volatility

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4.16% - 4.26%

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4.4% - 66.3%

Weighted-average volatility

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4.1%

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38.9%

Expected term (in years)

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2 - 7

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2 - 7

Risk-free rate

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1.79% - 3.49%

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.8% - 1.5%

Schedule of vested and non-vested stock options activities

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June 30, 2022

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Stock Options/
Restricted Stock/Unit
Outstanding

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Weighted Average Grant-Date Fair Value

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Weighted Average Exercise Price(1)

Nonvested stock options and restricted stock unit awards at December 31, 2021

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317,217

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$

25.80

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$

40.13

Options granted

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49,517

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3.37

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16.60

Restricted stock units granted

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18,718

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11.21

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—

Adjustment to prior year options granted

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(20,325)

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—

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—

Vested

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(31,882)

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35.64

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39.85

Forfeited

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(60,623)

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14.88

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45.11

Ending Balance at June 30, 2022

 

272,622

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$

16.87

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$

38.92

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December 31, 2021

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Stock Options/
Restricted Stock/Unit
Outstanding

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Weighted Average Grant-Date Fair Value

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Weighted Average Exercise Price(1)

Nonvested stock options at December 31, 2020

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100,972

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$

22.91

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$

34.70

Options granted

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333,880

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19.25

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42.84

Restricted stock units

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5,089

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24.34

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24.34

Vested

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(85,957)

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17.32

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30.20

Forfeited

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(36,767)

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23.91

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40.42

Ending Balance at December 31, 2021

 

317,217

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$

25.80

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$

40.13

(1)Restricted stock and restricted stock units do not have an exercise price.

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The tables below show the outstanding vested and nonvested stock options and restricted stock units as of June 30, 2022, and December 31, 2021

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Options(3)

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Weighted Average
Exercise Price
Per Share

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Weighted Average
Remaining
Contractual Life
(Years)

Outstanding at December 31, 2021

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489,131

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$

38.62

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9.2

Granted(1)

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49,517

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16.60

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10.0

Restricted stock units

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18,718

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—

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10.0

Vested(2)

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31,882

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39.85

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8.8

Forfeited or expired

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(60,623)

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45.11

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8.6

Exercised

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—

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—

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—

Outstanding at June 30, 2022

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528,625

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$

38.92

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9.1

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(1)Includes adjustment to prior year granted options
(2)Includes adjustment to prior year vested options
(3)Includes restricted stock units which do not have an exercise price

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Options(1)

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Weighted Average
Exercise Price
Per Share

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Weighted Average
Remaining
Contractual Life
(Years)

Outstanding at December 31, 2020

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100,972

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$

38.51

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9.8

Granted

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333,880

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43.91

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10.0

Restricted stock units

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5,089

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—

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10.0

Vested

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85,957

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39.78

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9.0

Forfeited or expired

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(36,767)

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44.05

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8.5

Exercised

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—

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—

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—

Outstanding at December 31, 2021

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489,131

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$

38.62

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9.2

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(1)Includes restricted stock units which do not have an exercise price