Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation (Tables)

v3.21.1
Stock Based Compensation (Tables)
3 Months Ended
Mar. 31, 2021
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 three months ended March 31, 2021:

 

 

 

Number of

Options

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Life In

Years

 

 

Intrinsic

Value

 

Outstanding at January 1, 2021

 

 

550,985

 

 

$

5.67

 

 

 

3.2

 

 

$

3,384

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at March 31, 2021

 

 

550,985

 

 

$

5.67

 

 

 

2.9

 

 

$

78,694

 

Exercisable at January 1, 2021

 

 

550,985

 

 

$

5.67

 

 

 

3.2

 

 

$

3,384

 

Vested

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at March 31, 2021

 

 

550,985

 

 

$

5.67

 

 

 

2.9

 

 

$

78,694

 

Schedule of Restricted Stock Units Activity A summary of the activity related to RSUs for the three months ended March 31, 2021 is presented below:

 

 

 

Total

 

 

Weighted

Average

Grant

Date Fair

Value

 

Outstanding at January 1, 2021

 

 

1,421,168

 

 

$

6.43

 

RSUs granted

 

 

1,066,635

 

 

$

3.81

 

RSUs forfeited

 

 

(9,137

)

 

$

9.97

 

RSUs vested

 

 

(627,412

)

 

$

7.33

 

Outstanding at March 31, 2021

 

 

1,851,254

 

 

$

4.60

 

 

Summary of Activity Related to PSUs

A summary of the activity related to PSUs for the three months ended March 31, 2021 is presented below:

 

 

 

Total

 

 

Weighted

Average Grant

Date Fair Value

 

Outstanding at January 1, 2021

 

 

 

 

$

 

PSUs granted

 

 

1,450,713

 

 

 

4.51

 

PSUs forfeited

 

 

 

 

 

 

PSUs vested

 

 

 

 

 

 

Outstanding at March 31, 2021

 

 

1,450,713

 

 

 

4.51

 

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

 

 

 

Three Months Ended

March 31, 2021

 

 

Three Months Ended

March 31, 2020

 

Stock price

 

$

1.80

 

 

$

1.77

 

Dividend yield

 

 

0%

 

 

 

0%

 

Expected volatility

 

 

95

%

 

 

61

%

Risk-free interest rate

 

 

0.09

%

 

 

1.57

%

Expected life

 

6 months

 

 

6 months

 

 

Summary of Stock-based Compensation Costs Recognized

The following tables summarize total stock-based compensation costs recognized for the three months ended March 31, 2021 and 2020:

 

 

Three Months Ended March 31,

 

 

 

2021

 

 

2020

 

RSUs

 

 

2,088,910

 

 

$

2,321,820

 

PSUs

 

 

 

 

 

(88,348

)

ESPP

 

 

57,316

 

 

 

42,827

 

Total

 

$

2,146,226

 

 

$

2,276,299

 

 

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:

 

 

 

Three Months Ended September 30,

 

 

 

2021

 

 

2020

 

Research and development

 

$

1,149,277

 

 

$

1,100,978

 

Sales and marketing

 

 

448,947

 

 

 

364,458

 

General and administrative

 

 

548,002

 

 

 

810,863

 

Total

 

$

2,146,226

 

 

$

2,276,299