Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v3.21.1
Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

The following is a summary of the Company’s stock option activity during the year ended December 31, 2020:

 

 

 

Number of

Options

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Life In

Years

 

 

Intrinsic

Value

 

Outstanding at January 1, 2020

 

 

550,985

 

 

$

5.67

 

 

 

4.3

 

 

$

2,538

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2020

 

 

550,985

 

 

$

5.67

 

 

 

3.2

 

 

$

3,384

 

Exercisable at December 31, 2020

 

 

550,985

 

 

$

5.67

 

 

 

3.2

 

 

$

3,384

 

Schedule of Restricted Stock Units Activity A summary of the activity related to RSUs for the year ended December 31, 2020 is presented below:

 

 

 

Total

 

 

Weighted

Average Grant

Date Fair Value

 

Outstanding at January 1, 2020

 

 

1,821,852

 

 

$

10.05

 

RSUs granted

 

 

1,005,109

 

 

$

1.68

 

RSUs forfeited

 

 

(211,354

)

 

$

7.82

 

RSUs vested

 

 

(1,194,439

)

 

$

7.71

 

Outstanding at December 31, 2020

 

 

1,421,168

 

 

$

6.43

 

 

Summary of Activity Related to PSUs A summary of the activity related to PSUs for the year ended December 31, 2020 is presented below:

 

 

 

Total

 

 

Weighted

Average Grant

Date Fair Value

 

Outstanding at January 1, 2020

 

 

428,000

 

 

$

2.09

 

PSUs granted

 

 

267,677

 

 

$

1.27

 

PSUs forfeited

 

 

(695,677

)

 

$

1.77

 

PSUs vested

 

 

 

 

$

 

Outstanding at December 31, 2020

 

 

 

 

$

 

 

Summary of Fair Values of Purchase Options Granted The fair values of the purchase options granted were estimated using the following assumptions:

 

 

For the Year Ended

December 31, 2020

Stock price range

$

1.77 – 2.96

 

Dividend yield

 

0

%

Expected volatility range

 

61 – 182

%

Risk-free interest rate range

 

0.17 – 1.57

%

Expected life

 

6 months

 

 

 

 

 

 

For the Year Ended

December 31, 2019

Stock price range

$

4.27 – 5.79

 

Dividend yield

 

0

%

Expected volatility range

 

83 – 96

%

Risk-free interest rate range

 

2.10 – 2.53

%

Expected life

 

6 months

 

 

 

 

 

 

 

Summary of Stock-based Compensation Costs Recognized

The following tables summarize total stock-based compensation costs recognized for years ended December 31, 2020 and 2019:

 

 

 

For the Years Ended December 31,

 

 

 

2020

 

 

2019

 

RSUs

 

$

7,656,857

 

 

$

10,190,211

 

PSUs

 

 

(88,348

)

 

 

88,348

 

ESPP

 

 

329,461

 

 

 

368,021

 

Total

 

$

7,897,970

 

 

$

10,646,580

 

 

Summary of Stock-based Compensation Reflected within Statements of Operations

The total amount of stock-based compensation was reflected within the statements of operations as:

 

 

 

For the Years Ended December 31,

 

 

 

2020

 

 

2019

 

Research and development

 

$

3,933,292

 

 

$

5,419,627

 

Sales and marketing

 

 

1,504,724

 

 

 

1,561,319

 

General and administrative

 

 

2,459,954

 

 

 

3,665,634

 

Total

 

$

7,897,970

 

 

$

10,646,580