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SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of the Changes in RSU's
The following is a summary of the changes in RSUs under the Plans during the current period:
Period Ended
Number
of
Restricted
Stock
Units(1)
Weighted
Average
Purchase
Price
Weighted
Average
Remaining
Contractual
Term		Aggregate Intrinsic Value as of December 31, 2023
(amounts in thousands)
RSUs outstanding as of:December 31, 2022208 
RSUs awardedDecember 31, 2023200 
RSUs releasedDecember 31, 2023(114)
RSUs forfeitedDecember 31, 2023(22)
RSUs outstanding as of:December 31, 2023272 $— 1.3 years$62 
RSUs vested and expected to vest as of:December 31, 2023254 $— 1.3 years$58 
RSUs exercisable (vested and deferred) as of:December 31, 2023— $— 0.0 years$— 
Weighted average remaining recognition period2.3 years
Unamortized compensation expense$3,882 
(1) Reverse Stock Split applied
Additional Information on RSU Activity
The following table presents additional information on RSU activity:
Year Ended December 31,
20232022
Shares
Amount
Shares
Amount
(amounts in thousands, except per share data)
RSUs issued200 $1,589 59 $2,742 
RSUs forfeited - service based(22)(1,201)(22)(2,674)
Net RSUs issued and increase (decrease) to paid-in capital178 $388 37 $68 
Weighted average grant date fair value per share$7.94 $46.20 
Fair value of shares vested per share$84.81 $116.40 
RSUs vested and released114 79 
Changes in RSUs with Market Conditions
The following table presents the changes in outstanding RSUs with market conditions:
Year Ended December 31,
20232022
(amounts in thousands, except per share
data)
Reconciliation of RSUs with Service And Market Conditions
Beginning of period balance25 1 
       Number of RSUs granted— 25 
       Number of RSUs forfeited— (1)
       Number of RSUs vested— — 
       End of period balance25 25 
       Weighted average fair value of RSUs granted with market conditionsn/a$28.80 
The table sets forth the assumptions used in the Monte Carlo simulations used to determine the fair values of the RSU awards with service and market conditions granted in 2022 (no RSU's with service and market conditions were granted in 2023):
RSU's and Assumptions by Grant Year2022
Expected Volatility Structure (1)
91 %
Risk Free Interest Rate (2)
2.75 %
Annual Dividend Payment Per Share (Constant) (3)
— %
(1)Expected Volatility Term Structure - The Company estimated the volatility term structure using the historical volatility of its stock.
(2)Risk-Free Interest Rate - The Company estimated the risk-free interest rate based upon the implied yield available on U.S. Treasury issues using the Treasury bond rate as of the date of grant.
(3)Annual Dividend Payment Per Share (Constant) - The Company assumed the historical dividend yield in effect at the date of the grant.
Option Activity Under The Plan The following table summarized the changes in outstanding options for 2023.
Period Ended
Number of
Options
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term		Intrinsic Value as of December 31, 2023
(amounts in thousands, except per share data)
Options outstanding as of:December 31, 202220$339.90 
Options expiredDecember 31, 2023(5)397.20 
Options outstanding as of:December 31, 202315$320.55 1.3 years$— 
Options vested and expected to vest as of:December 31, 202315$320.55 1.3 years$— 
Options vested and exercisable as of:December 31, 202315$320.55 1.3 years$— 
Weighted average remaining recognition period0.0 years
Unamortized compensation expense$— 
Significant Ranges of Outstanding and Exercisable Options
The following table summarizes significant ranges of outstanding and exercisable options as of the current period:
Range of
Exercise Prices
Options Outstanding
Options Exercisable
Number of Options Outstanding December 31, 2023
Weighted
Average
Remaining
Contractual
Life
Weighted
Average
Exercise
Price
Number of Options Exercisable December 31, 2023
Weighted
Average
Exercise
Price
From
To
$106.20$210.30 2,223 5.5$162.05 2,223 $162.05 
$289.80$419.40 12,957 0.6$347.75 12,957 $347.75 
$106.20$419.40 15,180 1.3$320.55 15,180 $320.55 
Summary of Non-Cash Stock-Based Compensation Expense
The following non-cash stock-based compensation expense, which is related primarily to RSUs, is included in each of the respective line items in the Company’s statement of operations:
Year Ended December 31,
20232022
(amounts in thousands)
Station operating expenses$1,703 $3,290 
Corporate general and administrative expenses2,684 5,039 
Stock-based compensation expense included in operating expenses4,387 8,329 
Income tax benefit (1)
1,437 1,656 
After-tax stock-based compensation expense$2,950 $6,673 
(1)Amounts exclude impact from any compensation expense subject to Section 162(m) of the Code, which is nondeductible for income tax purposes.