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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

The Company recognized total stock-based compensation expense during the three months ended March 31, 2022 and 2021 as follows (table in thousands):

A summary of the Company’s restricted stock awards during the three months ended March 31, 2022 is as follows:


	Number of Shares	Weighted Average Grant-Date Fair Value
Unvested at January 1, 2022	7,118	$	62.70
Forfeited	(6,227)	$	62.70
Unvested at March 31, 2022	891	$	62.70

A summary of the Company’s restricted stock awards during the three months ended March 31, 2021 is as follows:


	Number of Shares	Weighted Average Grant-Date Fair Value
Unvested at January 1, 2021	13,345	$	62.70
Forfeited	(6,227)	$	62.70
Unvested at March 31, 2021	7,118	$	62.70

A summary of the Company’s service-based restricted stock units during the three months ended March 31, 2022 is as follows:


	Number of Shares	Weighted Average Grant-Date Fair Value
Unvested at January 1, 2022	29,289	$	12.87


Forfeited	(1,223)	52.91
Unvested at March 31, 2022	28,066	$	11.11

A summary of the Company’s service-based restricted stock units during the three months ended March 31, 2021 is as follows:


	Number of Shares	Weighted Average Grant-Date Fair Value
Unvested at January 1, 2021	24,136	$	28.60
Granted	914	22.99
Vested	(1,042)	52.91
Forfeited	(2,396)	27.50

Unvested at March 31, 2021	21,612	$	27.39

The fair value of the service-based stock options granted for the three months ended March 31, 2022 were based on the following assumptions:


			March 31, 2022
Exercise price			$4.12
Expected stock price volatility			76.2%
Risk-free interest rate			1.98%
Term (years)			6.5

A summary of the Company’s service-based stock option activity for the three months ended March 31, 2022 is as follows:


	Shares Underlying Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2022	528,591	$	32.01	7.5	$	—
Granted	909	4.07		9.9	—

Forfeited	(14,839)	17.49		—	—
Expired	(3,545)	85.36		—	—
Outstanding at March 31, 2022	511,116	$	32.01	7.0	$	1

Exercisable at March 31, 2022	236,720	$	52.14	5.0	$	—

A summary of the Company’s service-based stock option activity for the three months ended March 31, 2021 is as follows:


	Shares Underlying Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2021	519,814	$	50.05	6.6	$	—
Granted	7,672	17.60		6.0	—
Forfeited	(16,721)	27.39		—	—
Expired	(20,530)	84.26		—	—
Outstanding at March 31, 2021	490,235	$	48.95	6.1	$	—

Exercisable at March 31, 2021	251,180	$	73.48	3.2	$	—