Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Incentive Plans (Tables)

v3.22.1
Stock-Based Incentive Plans (Tables)
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Summary of Stock Option Activity A summary of the stock option activity is as follows:
Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2021 3,194,738  $15.65  6.45 $ 2,236 
Granted 999,877  $9.22 
Exercised (20,750) $4.69 
Cancelled (56,889) $16.61 
Outstanding, March 31, 2022 4,116,976  $14.13  6.99 $ 1,144 
Exercisable, March 31, 2022 2,085,998  $14.78  4.87 $ 1,144 
Schedule of Weighted-Average Assumptions for Options Granted
The Company used the following weighted-average assumptions for options granted during the three months ended March 31, 2022:
Expected term (in years) 6.12
Expected volatility 60.74   %
Risk free rate 2.15   %
Expected dividends —   %
Summary of Stock Unit Activity
A summary of the restricted and performance stock unit activity is as follows:
Outstanding Stock Units
Stock Units Weighted-Average Fair Value at Date of Grant per Share Weighted Average Remaining Vesting Life Aggregate Intrinsic Value (in thousands)
Unvested, December 31, 2021 1,730,765  $ 18.45  1.51 $ 19,633 
Granted 1,766,609  $ 8.27 
Released (215,287) $ 13.63 
Forfeited (102,153) $ 17.35 
Unvested, March 31, 2022 3,179,934  $ 13.15  2.23 $ 25,249