EMPLOYEE STOCK OPTIONS, RESTRICTED STOCK AWARD PLAN AND 401(k) (Tables)
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12 Months Ended |
Dec. 31, 2021 |
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| EMPLOYEE STOCK OPTIONS, RESTRICTED STOCK AWARD PLAN AND 401(k) |
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| Schedule of Stock Options Activity |
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2021 |
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2020 |
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2019 |
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Weighted- |
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|
Weighted- |
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|
Weighted- |
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Average |
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|
Average |
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|
Average |
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|
Options |
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Exercise Price |
|
Options |
|
Exercise Price |
|
Options |
|
Exercise Price |
Outstanding at beginning of the year |
|
465,500 |
|
$ |
3.26 |
|
2,748,500 |
|
$ |
6.28 |
|
2,751,000 |
|
$ |
6.28 |
Issued |
|
— |
|
|
— |
|
— |
|
|
— |
|
— |
|
|
— |
Forfeited or rescinded |
|
— |
|
|
— |
|
(2,283,000) |
|
|
6.89 |
|
(2,500) |
|
|
11.70 |
Exercised |
|
(100,000) |
|
|
2.00 |
|
— |
|
|
— |
|
— |
|
|
— |
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|
|
|
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|
|
|
|
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|
|
|
|
|
Outstanding at end of year |
|
365,500 |
|
$ |
3.61 |
|
465,500 |
|
$ |
3.26 |
|
2,748,500 |
|
$ |
6.28 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercisable at end of year |
|
365,500 |
|
$ |
3.61 |
|
455,300 |
|
$ |
3.11 |
|
2,506,700 |
|
$ |
5.78 |
|
| Schedule of Stock Options Outstanding |
The following table summarizes information related to the Company’s stock options outstanding as of December 31, 2021:
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|
Options Outstanding |
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Weighted- |
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|
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Average |
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|
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Remaining |
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|
Number |
|
Contractual Life |
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Number |
Exercise price |
|
Outstanding |
|
(in years) |
|
Exercisable |
$ |
2.00 |
|
295,000 |
|
2.00 |
|
295,000 |
|
5.50 |
|
5,000 |
|
2.21 |
|
5,000 |
|
14.54 |
|
10,000 |
|
3.74 |
|
10,000 |
|
8.00 |
|
4,500 |
|
3.92 |
|
4,500 |
|
6.42 |
|
15,000 |
|
4.34 |
|
15,000 |
|
11.75 |
|
36,000 |
|
4.95 |
|
36,000 |
|
|
|
365,500 |
|
2.46 |
|
365,500 |
|
| Schedule of Restricted Stock Shares Activity |
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|
|
|
|
# of shares of |
Grant date |
|
restricted stock |
April 9,2019 |
|
10,400 |
May 30, 2019 |
|
5,000 |
July 9,2019 |
|
5,000 |
September 13, 2019 |
|
10,000 |
December 21, 2019 |
|
627,205 |
October 1, 2020 |
|
900,000 |
October 26,2020 |
|
150,000 |
December 15,2020 |
|
930,000 |
April 30, 2021 |
|
33,950 |
June 17, 2021 |
|
1,162,152 |
July 6, 2021 |
|
11,824 |
July 12, 2021 |
|
4,007 |
September 1, 2021 |
|
10,417 |
September 8, 2021 |
|
3,306 |
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| Schedule of Restricted Stock Grants |
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|
2021 |
|
2020 |
|
2019 |
|
|
|
|
Weighted- |
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|
|
|
|
|
|
|
|
|
|
|
|
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Average |
|
|
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|
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|
Grant |
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Weighted- |
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|
Weighted- |
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|
Date Fair |
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Average Grant |
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|
Average Grant |
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|
Restricted stock |
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Value |
|
Restricted stock |
|
Date Fair Value |
|
Restricted stock |
|
Date Fair Value |
Outstanding at beginning of year |
|
2,132,297 |
|
$ |
2.94 |
|
1,341,889 |
|
$ |
4.99 |
|
878,360 |
|
$ |
7.33 |
Granted |
|
1,225,656 |
|
|
2.77 |
|
1,980,000 |
|
|
0.71 |
|
657,605 |
|
|
2.63 |
Forfeited or rescinded |
|
— |
|
|
— |
|
(9,200) |
|
|
3.97 |
|
(6,940) |
|
|
4.23 |
Vested |
|
(785,357) |
|
|
1.37 |
|
(1,180,392) |
|
|
4.97 |
|
(187,136) |
|
|
7.79 |
Outstanding at end of year |
|
2,572,596 |
|
$ |
1.75 |
|
2,132,297 |
|
$ |
2.94 |
|
1,341,889 |
|
$ |
4.99 |
|
| Schedule of performance stock units |
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|
2021 |
|
|
|
|
Weighted- |
|
|
|
|
Average |
|
|
Performance |
|
Grant Date |
|
|
Stock Units |
|
Fair Value |
Outstanding at beginning of year |
|
— |
|
$ |
— |
Granted |
|
860,216 |
|
|
3.87 |
Forfeited or rescinded |
|
— |
|
|
— |
Vested |
|
— |
|
|
— |
|
|
|
|
|
|
Outstanding at end of year |
|
860,216 |
|
$ |
3.87 |
|
| Schedule of contributions expense |
|
|
|
|
|
|
|
|
|
2021 |
|
2020 |
|
2019 |
Employer safe harbor match |
|
228,273 |
|
138,977 |
|
59,716 |
|