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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

June 30, 

December 31, 

2022

2021

Expected volatility

4.16% - 4.26%

4.4% - 66.3%

Weighted-average volatility

4.1%

38.9%

Expected term (in years)

2 - 7

2 - 7

Risk-free rate

1.79% - 3.49%

.8% - 1.5%

Schedule of vested and non-vested stock options activities

 

June 30, 2022

Stock Options/
Restricted Stock/Unit
Outstanding

Weighted Average Grant-Date Fair Value

Weighted Average Exercise Price(1)

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

317,217

$

25.80

$

40.13

Options granted

49,517

3.37

16.60

Restricted stock units granted

18,718

11.21

Adjustment to prior year options granted

(20,325)

Vested

(31,882)

35.64

39.85

Forfeited

(60,623)

14.88

45.11

Ending Balance at June 30, 2022

 

272,622

$

16.87

$

38.92

 

December 31, 2021

Stock Options/
Restricted Stock/Unit
Outstanding

Weighted Average Grant-Date Fair Value

Weighted Average Exercise Price(1)

Nonvested stock options at December 31, 2020

100,972

$

22.91

$

34.70

Options granted

333,880

19.25

42.84

Restricted stock units

5,089

24.34

24.34

Vested

(85,957)

17.32

30.20

Forfeited

(36,767)

23.91

40.42

Ending Balance at December 31, 2021

 

317,217

$

25.80

$

40.13

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

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

Options(3)

Weighted Average
Exercise Price
Per Share

Weighted Average
Remaining
Contractual Life
(Years)

Outstanding at December 31, 2021

489,131

$

38.62

9.2

Granted(1)

49,517

16.60

10.0

Restricted stock units

18,718

10.0

Vested(2)

31,882

39.85

8.8

Forfeited or expired

(60,623)

45.11

8.6

Exercised

Outstanding at June 30, 2022

528,625

$

38.92

9.1

(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

Options(1)

Weighted Average
Exercise Price
Per Share

Weighted Average
Remaining
Contractual Life
(Years)

Outstanding at December 31, 2020

100,972

$

38.51

9.8

Granted

333,880

43.91

10.0

Restricted stock units

5,089

10.0

Vested

85,957

39.78

9.0

Forfeited or expired

(36,767)

44.05

8.5

Exercised

Outstanding at December 31, 2021

489,131

$

38.62

9.2

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