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

    

Weighted

    

Average

    

    

Weighted

Remaining

Number

Average

Contractual

Aggregate

of Stock

Exercise

Term

Intrinsic

Options

Price

(in years)

Value

Options outstanding at January 1, 2023

 

3,503,235

$

2.80

 

  

 

  

Granted

 

350,754

 

7.40

 

  

 

  

Exercised

 

(56,762)

 

1.40

 

  

 

  

Canceled/Forfeited

 

(20,000)

 

6.88

 

  

 

  

Expired

 

(20,000)

 

3.22

 

  

 

  

Options outstanding at December 31, 2023

 

3,757,227

$

3.22

 

4.31

$

10,280,758

Options exercisable at December 31, 2023

 

3,059,868

$

2.27

 

3.31

$

10,221,180

Schedule of compensation expense

(In thousands)

Year Ended

December 31, 

Compensation Expense

2023

2022

Stock options

$

1,517

$

1,150

Restricted and performance-based shares

 

1,365

 

543

$

2,882

$

1,693

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

Year Ended December 31, 

    

2023

2022

Expected volatility

 

69.54

%  

68.38

%

Expected dividend yield

 

%  

%

Expected term (in years)

 

6.00

 

6.00

Weighted average risk-free rate

 

3.72

%  

2.56

%

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:

Year Ended December 31, 

2023

2022

Weighted average grant date fair value

$

4.79

$

4.39