Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.24.0.1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2023
STOCK-BASED COMPENSATION  
Schedule of Common Stock Options

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Weighted

    

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Average

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Weighted

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Remaining

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Number

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Average

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Contractual

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Aggregate

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of Stock

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Exercise

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Term

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Intrinsic

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Options

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Price

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(in years)

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Value

Options outstanding at January 1, 2023

 

3,503,235

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$

2.80

 

  

 

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Granted

 

350,754

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7.40

 

  

 

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Exercised

 

(56,762)

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1.40

 

  

 

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Canceled/Forfeited

 

(20,000)

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6.88

 

  

 

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Expired

 

(20,000)

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3.22

 

  

 

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Options outstanding at December 31, 2023

 

3,757,227

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$

3.22

 

4.31

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$

10,280,758

Options exercisable at December 31, 2023

 

3,059,868

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$

2.27

 

3.31

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$

10,221,180

Schedule of compensation expense

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(In thousands)

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Year Ended

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December 31, 

Compensation Expense

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2023

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2022

Stock options

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$

1,517

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$

1,150

Restricted and performance-based shares

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1,365

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543

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$

2,882

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$

1,693

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Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

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Year Ended December 31, 

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2023

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2022

Expected volatility

 

69.54

%  

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68.38

%

Expected dividend yield

 

—

%  

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—

%

Expected term (in years)

 

6.00

 

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6.00

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Weighted average risk-free rate

 

3.72

%  

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2.56

%

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Schedule of weighted-average grant date fair value of options granted

Therefore, the weighted-average grant date fair value per share of options granted is as follows for 2022 and 2023:

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Year Ended December 31, 

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2023

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2022

Weighted average grant date fair value

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$

4.79

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$

4.39

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