Shareholders' Deficit

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

Shareholders' Deficit

9. Shareholders’ Deficit

The following reflects the activity in the shares of our common stock for the years ended December 31:

Common Shares (in thousands)	2021		2020		2019
Beginning balance		50,192		33,715		33,090
Equity issuance - UST commitment fee		—		15,944		—
Issuance of equity awards, net		763		533		625
Ending balance		50,955		50,192		33,715

The shares issued to the UST are subject to a voting trust agreement entered on July 9, 2020 which provides that all shares of the Company’s common stock owned by the UST shall be delivered to a voting trust and voted in proportion as all other common stock are voted, subject to certain exceptions defined therein.

The Company issued to the IBT one share of Series A Voting Preferred Stock that entitles the holder to appoint two directors to the Company’s Board of Directors.