Annual report pursuant to Section 13 and 15(d)

Accounting for Share-Based Payments (Tables)

v3.24.1
Accounting for Share-Based Payments (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Activity in the Company’s Stock Option Plans
Transactions related to stock options for the year ended December 31, 2023 are summarized as follows:
Weighted
Average
Exercise
Price
Options
Outstanding
Weighted
Average
Contractual
Term
(in years)
Intrinsic
Value of
Options
Outstanding at December 31, 2022 $ 13.66  118,142  5.2 $ — 
Exercised —  — 
Canceled, forfeited, or expired 13.70  (11,945)
Outstanding at December 31, 2023 $ 13.65  106,197  4.8 $ — 
Vested and expected to vest at December 31, 20231
$ —  —  $ — 
Exercisable options $ 13.65  106,197  4.8 $ — 
1Includes outstanding vested and nonvested options
Schedule of Stock Awards Plan Activity
Transactions related to restricted stock awards for the year ended December 31, 2023 are summarized as follows:
Shares Weighted Average
Grant Date Fair Value
Nonvested at December 31, 2022 79,103  $ 17.31 
Granted 47,158  9.74 
Vested (47,875) 15.74 
Forfeited (10,179) 15.56 
Nonvested at December 31, 2023 68,207  $ 12.57 
Transactions related to inducement stock awards as of December 31, 2023 were as follows:
Units Weighted-Average Grant Date Fair Value
Outstanding December 31, 2022 21,686  $ 10.61 
Vested —  — 
Forfeited/Canceled (16,784) $ 10.72 
Outstanding December 31, 2023 4,902  $ 10.21 
Schedule of Nonvested Performance- based Units Activity
The performance stock units are divided into tranches, each one vesting on the date the thirty-day volume-weighted average price of the Company's common stock `meets or exceeds the price target as set forth in the table below:
Shares Volume Weighted Average Price Target
Tranche I 4,902  $ 13.00 
Tranche II 52,566  15.00 
Tranche III 4,902  16.00 
Tranche IV 2,566  17.50 
Tranche V 4,902  19.00 
Tranche VI 52,567  20.00 
Tranche VII 2,230  22.50 
Tranche VIII 100,000  25.00 
Tranche IX 40,000  27.50 
Tranche X 30,000  30.00 
Tranche XI 30,000  $ 35.00 
Transactions related to performance stock units for the year ended December 31, 2023 were as follows:
Units Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2022 159,663  $ 3.92 
Granted 172,405  0.64 
Forfeited (7,433) 4.73 
Outstanding at December 31, 2023 324,635  $ 2.16