Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activities
Following is a summary of stock option activities for the three months ended March 31, 2024:
Options Weighted
Average
Exercise Price
Weighted
Average
Grant Date
Fair Value
Weighted
Average
Remaining
Life
(years)
Intrinsic
Value
Outstanding – January 1, 2024 7,217,074  $ 0.19  $ 0.21  3.5
Exercised (508,181) 0.18  0.22 
Forfeited —  —  — 
Outstanding – March 31, 2024
6,708,893  $ 0.19  $ 0.21  3.2 $ 17,856 
Exercisable as of March 31, 2024
6,708,893  $ 0.19  $ 0.21  3.2 $ 17,856 
Summary of Restricted Stock Activity

Restricted Stock Units
Weighted Average Grant Date
Fair Value
Non-vested – January 1, 2024 5,259,982  $ 4.99 
Granted (1)
7,149,318  3.77 
Vested
(509,565) 4.85 
Forfeited
(432,724) 3.61 
Non-vested – March 31, 2024
11,467,011  $ 4.29 
(1) 5,057,140 PSUs will vest subject to the achievement of certain financial performance metrics by the Company as discussed above.
Summary of Stock-based Compensation Expense
Stock-based compensation expense for stock options and restricted stock units in the unaudited interim condensed consolidated statements of operations is summarized as follows:
Three Months Ended March 31,
2024 2023
Software development (1)
$ (20) $ 168 
General and administrative (2)
4,197  2,636 
Selling and marketing
366  78
Total stock-based compensation expense (3)
$ 4,543  $ 2,882 
(1) For the three months ended March 31, 2024, a cumulative adjustment of $181 was recorded due to the forfeiture of restricted stock units of certain former employees.
(2) For the three months ended March 31, 2023, the Company included a credit of $339 in connection with the settlement of the equity-based portion of contingent consideration related to the acquisition of Trinity Air Medical, Inc. (“Trinity”) that was paid in the first quarter of 2023 in respect of 2022 results.
(3) Stock-based compensation expenses for the period ended March 31, 2024 include $225 accrued expenses