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Stock-Based Compensation
3 Months Ended
Mar. 31, 2021
Stock-Based Compensation [Abstract]  
Stock-Based Compensation
Note 9 - Stock-Based Compensation

The Company recognizes compensation expense on a pro rata straight-line basis over the requisite service period for stock-based compensation awards with both graded and cliff vesting terms. The Company recognizes the cumulative effect of a change in the number of awards expected to vest in compensation expense in the period of change. The Company has not capitalized any portion of its stock-based compensation. The Company’s forfeiture rate is based on actuals.

During the three months ended March 31, 2021 and 2020, the Company recognized $38 thousand and $147 thousand, respectively, of stock-based compensation expense under the fair value method.

During the three months ended March 31, 2021, we did not grant RSUs to employees.

During three months ended March 31, 2020, we granted approximately 30,000 time-vesting RSUs to employees with an aggregate fair value of approximately $43 thousand. A portion of the time-vesting RSUs vest quarterly in equal amounts over the course of eight quarters, and the remainder vest annually in equal amounts over the course of one to three years. The fair value of the time-vesting RSUs is expensed ratably over the requisite service period, which ranges from one year to three years.

During the three months ended March 31, 2020, we granted approximately 510,000 performance-based RSUs to key employees with an aggregate fair-value of $600 thousand. These awards vest over three years based upon achieving certain financial metrics achieved during fiscal 2022 for revenue and Adjusted EBITDA.

We did not grant stock options for the three months ended March 31, 2021 or 2020.