Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation and Other Benefit Plans (Tables)

v3.22.1
Share-Based Compensation and Other Benefit Plans (Tables)
3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Summary of Restricted Stock Unit Activity
The table below summarizes activity for the three months ended March 31, 2022 with respect to awarded RSUs:
Restricted Stock
Units
Weighted-Average
Grant Date
Fair Value
Balance at beginning of year 230,517  $ 9.20 
Granted —  — 
Vested (69,206) (7.94)
Forfeited —  — 
Balance at end of year 161,311  $ 10.52 
Schedule of Valuation Assumptions The ranges for the assumptions used in the Monte Carlo model for the 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.