Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.23.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Schedule of Stock Option Activity
A summary of the stock option activity under the Company’s plans for the six months ended June 30, 2023 is as follows:
 
Number of
Shares
Weighted Average Exercise Price
Outstanding at December 31, 2022 4,214,617  $ 16.48 
Granted 1,502,768  $ 17.34 
Exercised (135,101) $ 10.07 
Forfeited (818,558) $ 19.77 
Outstanding at June 30, 2023 4,763,726  $ 16.37 
Exercisable at June 30, 2023 1,231,330  $ 23.06 
Schedule of Fair Value of Each Stock Option Award Granted The fair value of each stock option award granted during the six months ended June 30, 2023 was estimated as of the grant date using a Black-Scholes model with the following assumptions:
  Six Months Ended
June 30, 2023
Expected term (in years)
4.0 - 6.5
Risk-free interest rate (%)
3.3% - 4.4%
Expected volatility (%)
53.3% - 67.9%
Dividend yield (%)
Weighted average grant date fair value per share $9.05
Schedule of Restricted Stock Activity
A summary of the restricted stock activity under the Company’s plans for the six months ended June 30, 2023 is as follows:
Number of Restricted
Shares
Weighted Average Grant Date Fair Value
Nonvested at December 31, 2022 1,994,861  $ 12.71 
Granted 845,735  $ 17.19 
Vested (451,523) $ 14.32 
Forfeited (333,682) $ 15.75 
Nonvested at June 30, 2023 2,055,391  $ 13.68 
A summary of the PSU activity under the Company’s plans for the six months ended June 30, 2023 is as follows:

Number of Stock Units Weighted Average Grant Date Fair Value
Nonvested at December 31, 2022 —  $ — 
Granted 305,105  $ 21.83 
Vested —  $ — 
Forfeited —  $ — 
Nonvested at June 30, 2023 305,105  $ 21.83 
Schedule of Fair Value of PSU Award Granted
The fair value of each PSU granted during the six months ended June 30, 2023 was estimated as of the grant date using a Monte Carlo with the following assumptions:
Six Months Ended
June 30, 2023
Expected term (in years) 3.0
Risk-free interest rate (%)
3.6% - 4.0%
Expected volatility (%)
68.4% - 69.9%
Dividend yield (%)
Weighted average grant date fair value per share $21.83