Restricted Stock Liabilities

3 Months Ended

Mar. 31, 2022

Restricted Stock Liabilities

Restricted Stock Liabilities

5. Restricted Stock Liabilities

On December 15, 2020, the Company entered into an amendment for certain restricted stock awards and units that were previously issued to certain employees in connection with a previous merger (the “HubPages merger”). Pursuant to the amendment, the Company committed to repurchase 48,389 vested restricted stock awards as of December 31, 2020 at a price of $88.00 per share in 24 equal monthly installments on the second business day of each calendar month beginning January 4, 2021, subject to certain conditions.

The following table presents the components of the restricted stock liabilities:

	As of
	March 31, 2022			December 31, 2021
Restricted stock liabilities (before imputed interest)	$	2,307		$	3,801
Less imputed interest		(78	)		(177	)
Present value of restricted stock liabilities		2,229			3,624
Less payments during the period		(710	)		(1,472	)
Restricted stock liabilities at end of period (reflected in accrued expenses and other)	$	1,519		$	2,152

The Company recorded the repurchase of 8,064 and 6,049 shares of the Company’s restricted common stock during the three months ended March 31, 2022 and 2021, respectively, on the condensed consolidated statements of stockholders’ deficiency. On April 4, 2022, the Company paid $1,597 for the remaining 18,134 shares of the Company’s restricted common stock that were outstanding as of March 31, 2022 that were subject to repurchase.