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

September 30, 

December 31, 

2022

2021

Expected volatility

4.16% - 4.26%

4.4% - 66.3%

Weighted-average volatility

35.4%

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

The tables below show the outstanding options, restricted stock, and restricted stock units under the 2019 and 2020 Plans as of September 30, 2022, and December 31, 2021, respectively:

 

September 30, 2022

Stock Options
Outstanding

Weighted Average Grant-Date Fair Value

Weighted Average Exercise Price

Nonvested stock options and restricted

stock unit awards at December 31, 2021

317,217

$

25.80

$

40.13

Options granted

88,367

8.18

15.65

Restricted stock units granted

18,718

Adjustment to prior year options granted

65,414

Vested

(19,950)

19.42

37.44

Forfeited

(185,828)

29.18

41.05

Ending Balance at September 30, 2022

 

283,938

$

17.22

$

34.14

 

December 31, 2021

Stock Options
Outstanding

Weighted Average Grant-Date Fair Value

Weighted Average Exercise Price

Nonvested stock options and restricted

stock unit awards at December 31, 2021

100,972

$

22.91

$

34.70

Options granted

333,880

19.25

42.84

Restricted stock units granted

5,089

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.
Schedule of outstanding vested and non-vested stock options and restricted stock unit

Weighted Average
Exercise Price
Per Share

Weighted Average
Remaining
Contractual Life
(Years)

Outstanding, Non vested options

267,894

$

34.11

8.8

Outstanding, Vested options

25,826

34.41

6.9

Outstanding, Non vested restricted

16,044

Outstanding, Vested restricted

1,163

Outstanding at September 30, 2022

310,927

$

34.14

8.6

Weighted Average
Exercise Price
Per Share

Weighted Average
Remaining
Contractual Life
(Years)

Outstanding, Non vested options

379,488

$

38.51

9.8

Outstanding, Vested options

85,957

43.91

10.0

Outstanding, Non vested restricted

23,686

44.05

8.5

Outstanding, Vested restricted

-

-

-

Outstanding at December 31, 2021

489,131

$

38.62

9.2