Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.22.2
Stock-Based Compensation
 6 Months Ended
Jun. 30, 2022
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Stock Option Awards
Following is a summary of stock option activities for the six months ended June 30, 2022:
Options Weighted
Average
Exercise Price
Weighted
Average
Grant Date
Fair Value
Weighted
Average
Remaining
Life
(years)
Intrinsic
Value
Outstanding – January 1, 2022 8,084,676  $ 0.19  $ 0.21  5.6 $ 69,875 
Granted —  —  — 
Exercised (440,143) 0.18  0.22 
Forfeited —  —  — 
Outstanding – June 30, 2022
 7,644,533  $ 0.19  $ 0.21  5.1 $ 32,661 
Exercisable as of June 30, 2022
 7,644,533  $ 0.19  $ 0.21  5.1 $ 32,661 
For the three months ended June 30, 2022 and 2021, the Company recorded $0 and $656, respectively, in stock option expense. For the six months ended June 30, 2022 and 2021, the Company recorded $0 and $765, respectively, in stock option expense. The fair value of stock options is amortized on a straight-line basis over the requisite service periods of the respective awards. As of June 30, 2022, $0 of stock options remain subject to amortization.
Restricted Stock
During the three months ended June 30, 2022, the Company granted an aggregate of 270,357 of the Company's restricted stock units to various employees, officers, directors, consultants, and service providers under the 2021 Equity Incentive Plan. The restricted stock units have various vesting dates, ranging from vesting on the grant date to as late as four years from the date of grant.
Restricted Stock Units
Weighted Average Grant Date
Fair Value
Non-vested – January 1, 2022 2,373,523  $ 8.22 
Granted
 420,913  7.27 
Vested
 (394,430) 8.01 
Forfeited
 (45,777) 8.88 
Non-vested – June 30, 2022
 2,354,229  $ 8.24 
For the three months ended June 30, 2022 and 2021, the Company recorded $1,844 and $1,862 in employee and officers restricted stock compensation expense. For the six months ended June 30, 2022 and 2021, the Company recorded $3,942 and $3,657 in employee and officers restricted stock compensation expense. As of June 30, 2022, unamortized stock-based compensation costs related to restricted share arrangements was $14,970 and will be recognized over a weighted average period of 2.6 years.
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 June 30,
Six Months Ended June 30,
2022 2021 2022 2021
Software development
 $ 254  $ 86  $ 529  $ 156 
General and administrative
 1,495  2,425  3,218  4,259 
Selling and marketing
 95  7 195  7
Total stock-based compensation expense
 $ 1,844  $ 2,518  $ 3,942  $ 4,422