Annual report pursuant to Section 13 and 15(d)

Employee Benefit Plans (Tables)

v3.20.4
Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2020
Employee Benefit Plans  
Schedule of stock option activity

Changes in outstanding stock options during the years ended December 31, 2020 and 2019 were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Weighted

 

average

 

Intrinsic

 

 

 

 

average exercise

 

remaining

 

value

 

    

Shares

    

price

    

contractual life

    

(thousands)

Outstanding at December 31, 2018

 

2,001,008

 

$

3.29

 

  

 

 

  

Granted

 

68,000

 

 

2.99

 

  

 

 

  

Exercised

 

(42,000)

 

 

2.13

 

  

 

 

  

Cancelled, expired or forfeited

 

(220,500)

 

 

2.70

 

  

 

 

  

Outstanding at December 31, 2019

 

1,806,508

 

$

3.37

 

5.87 years

 

$

1,428

Exercisable at December 31, 2019

 

1,270,508

 

$

3.93

 

5.10 years

 

$

667

Granted

 

 —

 

 

 —

 

  

 

 

  

Exercised

 

(18,000)

 

 

2.13

 

  

 

 

  

Cancelled, expired or forfeited

 

(81,500)

 

 

3.75

 

  

 

 

  

Outstanding at December 31, 2020

 

1,707,008

 

$

3.37

 

4.98 years

 

$

1,454

Exercisable at December 31, 2020

 

1,443,675

 

$

3.57

 

4.68 years

 

$

1,112

 

Schedule of fair value of options granted

The fair value of options granted in the year ended December 31, 2019 was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions by grant year:

 

 

 

 

Expected life, in years

 

8.5 years

Risk-free interest rate

 

2.62

%

Volatility

 

42.0

%

Dividend yield

 

 —

%

 

Schedule of non-vested stock options

A summary of the status of the Company’s non-vested stock options as of December 31, 2020 and 2019 and changes during the years then ended, is presented below:

 

 

 

 

 

 

 

 

 

 

Weighted average

 

    

Shares

    

grant date fair value

Non-vested stock options at December 31, 2018

 

926,500

 

$

0.91

Granted

 

68,000

 

 

2.99

Vested

 

(281,500)

 

 

1.12

Cancelled, expired or forfeited

 

(177,000)

 

 

0.95

Non-vested stock options at December 31, 2019

 

536,000

 

$

0.87

Granted

 

 —

 

 

 —

Vested

 

(272,667)

 

 

0.75

Cancelled, expired or forfeited

 

 —

 

 

 —

Non-vested stock options at December 31, 2020

 

263,333

 

$

0.99

 

Schedule of restricted stock awards and changes

A summary of the status of RSUs and changes during the years ended December 31, 2020 and 2019 is presented below:

 

 

 

 

 

 

 

 

 

 

Weighted average

 

    

Shares

    

grant date fair value

Non-vested RSUs at December 31, 2018

 

764,201

 

$

2.54

Granted

 

584,593

 

 

3.04

Vested

 

(227,889)

 

 

2.64

Cancelled, expired or forfeited

 

(165,894)

 

 

2.73

Non-vested RSUs at December 31, 2019

 

955,011

 

$

2.69

Granted

 

1,316,174

 

 

1.21

Vested

 

(305,027)

 

 

2.77

Cancelled, expired or forfeited

 

(94,566)

 

 

2.12

Non-vested RSUs at December 31, 2020

 

1,871,592

 

$

1.68