Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.21.2
Share-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2021
Restricted Stock Units (RSUs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]
The table below presents the number of RSUs granted, the average grant-date fair value and the number of shares vested for the following periods:
Nine Months Ended September 30,
2021 2020
RSUs granted 118,223  281,382 
Average grant-date fair value $13.84 $4.49
Issued upon vesting, net of shares withheld for income taxes 122,911  45,435 
Performance Shares [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-based Payment Arrangement, Performance Shares, Activity
The table below presents the number of PRSUs granted and the number of shares vested for the following periods:
Nine Months Ended September 30,
2021 2020
PRSUs granted 1
225,206  145,399 
Monte Carlo grant-date fair value 2
$17.74 to $33.31
$2.40 to $16.02
Average grant-date fair value 3
$13.63 not applicable
Issued upon vesting, net of shares withheld for income taxes 7,252  19,402 
Schedule of Valuation Assumptions The ranges for the assumptions used in the Monte Carlo model for these PRSUs granted during 2021, 2020 and 2019 are presented as follows:
2021 1
2020 1
2019
Expected volatility
131.74% to 134.74%
101.32% to 117.71%
 49.9  %
Dividend yield 0.0  % 0.0  % 0.0  %
Risk-free interest rate
0.22% to 0.29%
0.18% to 0.51%
 1.66  %
Performance period 2021-2023 2020-2022 2020-2022
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1    One executive officer’s inducement award originally granted in August 2020 was amended in April 2021 to conform vesting conditions to other PRSU awards granted in 2021. The Monte Carlo assumptions for both years are included above.