Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Schedule of Stock Option Activity

A summary of the stock option activity under the Company’s plans for the six months ended June 30, 2022 is as follows:

 

	Number of Shares	Weighted Average Exercise Price
Options outstanding at December 31, 2021	2,961,195	$	25.46
Options granted	2,953,059	$	15.80
Less:
Options exercised	566,583	$	12.65
Options forfeited	1,316,107	$	30.31
Options outstanding at June 30, 2022	4,031,564	$	18.59
Exercisable at June 30, 2022	1,427,681	$	22.60

Schedule of Fair Value of Each Stock Option Award Granted

The fair value of each stock option award granted during the six months ended June 30, 2022 was estimated as of the grant date using a Black-Scholes model with the following weighted average assumptions:

	Six Months Ended June 30, 2022
Expected term (in years)	3 - 5.5
Risk-free interest rate (%)	2.5%
Expected volatility (%)	42% - 59%
Dividend yield (%)	—
Weighted average grant date fair value per share	$6.70

Schedule of Restricted Stock Activity

A summary of the restricted stock activity under the Company’s plans for the six months ended June 30, 2022 is as follows:

	Number of Restricted Shares	Weighted Average Grant Date Fair Value
Nonvested at December 31, 2021	851,403	$	36.00
Granted	1,778,000	$	15.47
Vested	(309,100)	$	36.74
Forfeited	(817,912)	$	29.68
Nonvested at June 30, 2022	1,502,391	$	14.99