Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation and Other Benefit Plans (Tables)

v3.22.0.1
Stock-Based Compensation and Other Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Stock Based Compensation Expense

A summary of selected data related to stock-based compensation expense follows:

 

 

 

2008 Stock Plan

 

 

 

For the Years Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

(Dollars in thousands)

 

Stock-based compensation expense

 

$

44

 

 

$

183

 

 

$

328

 

Amount of cash received from exercise of awards

 

 

3,192

 

 

 

4

 

 

 

1,880

 

 

 

 

2008 Stock Plan

 

 

 

As of December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

(Dollars in thousands)

 

Unrecognized compensation expense related to stock-based

   compensation

 

$

-

 

 

$

49

 

 

$

243

 

Weighted-average life over which expense is expected to be

   recognized (years)

 

 

 

 

 

0.6

 

 

 

1.3

 

A summary of selected data related to stock-based compensation expense follows:

 

 

 

2017 Stock Plan

 

 

 

For the Years Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

 

 

 

 

(Dollars in thousands)

 

Stock-based compensation expense

 

$

165

 

 

$

190

 

 

$

170

 

Amount of cash received from exercise of awards

 

 

47

 

 

 

611

 

 

 

86

 

 

 

 

2017 Stock Plan

 

 

 

As of December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

 

 

 

 

(Dollars in thousands)

 

Unrecognized compensation expense related to stock-based compensation

 

$

152

 

 

$

318

 

 

$

515

 

Weighted-average life over which expense is expected to be recognized (years)

 

 

1.3

 

 

 

2.1

 

 

 

2.8

 

A summary of selected data related to stock-based compensation expense for the years ended December 31, 2021 and 2020 are as follows:

 

 

 

 

Restricted Stock Unit Awards

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

 

 

(Dollars in thousands)

 

Stock-based compensation expense

 

$

925

 

 

$

606

 

Unrecognized compensation expense related to stock-based compensation

 

$

3,884

 

 

$

2,298

 

Weighted-average life over which expense is expected to be recognized (years)

 

 

3.70

 

 

 

4.24

 

 

Summary of Activity Related to Restricted Stock Units

The following table presents the activity for the year ended December 31, 2021 related to restricted stock units from the 2017 Stock Plan:

 

 

2017 Stock Plan

 

 

 

Restricted Stock Unit Awards

 

 

 

Shares

 

 

Weighted

Average

Grant Date

Fair Value

 

Outstanding at January 1, 2021

 

 

200,239

 

 

$

13.31

 

Granted

 

 

114,877

 

 

$

22.57

 

Vested (2)

 

 

(57,359

)

 

$

-

 

Forfeited

 

 

(8,199

)

 

 

 

Outstanding at December 31, 2021

 

 

249,558

 

 

$

17.16

 

 

 

(1)

Forfeitures are accounted for in the period they occur.

 

(2)

Although shares vest evenly over the five year vesting period, vested shares are only delivered at the end of the five year vesting period or when the participant leaves the Company. The vested amount shown here includes 5,989 shares delivered to participants.

 

2008 Stock Plan  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Option Activity

The following table presents the activity during the year ended December 31, 2021 related to the 2008 Stock Plan:

 

 

 

2008 Stock Plan

 

 

 

Options

 

 

Weighted

Average

Exercise

Price

 

 

Aggregate

Intrinsic

Value

(thousands)

 

 

Weighted

Average

Remaining

Contractual

Life (Years)

 

Outstanding at January 1, 2021

 

 

840,872

 

 

$

13.48

 

 

$

2,792

 

 

3.49

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(242,117

)

 

 

12.73

 

 

 

3,886

 

 

 

 

 

Forfeited (1)

 

 

(22,430

)

 

 

14.61

 

 

 

318

 

 

 

 

 

Expired

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2021

 

 

576,325

 

 

$

13.75

 

 

 

8,662

 

 

 

2.84

 

Vested and exercisable at December 31, 2021

 

 

576,325

 

 

$

13.75

 

 

 

8,662

 

 

 

2.84

 

 

(1)

Forfeitures are accounted for in the period they occur

2017 Stock Plan  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Option Activity

The following table presents the activity during the year ended December 31, 2021 related to the 2017 Stock Plan:

 

 

2017 Stock Plan

 

 

 

Options

 

 

Weighted

Average

Exercise

Price

 

 

Aggregate

Intrinsic

Value

(thousands)

 

 

Weighted

Average

Remaining

Contractual

Life (Years)

 

Outstanding at January 1, 2021

 

 

197,714

 

 

$

17.55

 

 

$

148

 

 

 

6.71

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(2,960

)

 

 

15.79

 

 

$

38

 

 

 

 

 

Forfeited (1)

 

 

(7,109

)

 

 

20.12

 

 

$

62

 

 

 

 

 

Expired

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2021

 

 

187,645

 

 

$

17.35

 

 

$

2,145

 

 

 

5.66

 

Vested and exercisable at December 31, 2021

 

 

151,355

 

 

$

16.88

 

 

$

1,801

 

 

 

5.56

 

 

(1)

Forfeitures are accounted for in the period they occur