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Stock-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2022

Stock option activity was as follows (shares in thousands):


	Options Outstanding	Weighted- Average Exercise Price
Outstanding at December 31, 2020	740	$	2.20

Forfeited, canceled or expired	(22)	8.22
Exercised	(9)	11.5
Outstanding at March 31, 2021	710	1.89

Forfeited, canceled or expired	(1)	2.72
Exercised	(238)	2.01
Outstanding at March 31, 2022	471	1.82

Certain information regarding options outstanding at March 31, 2022 was as follows:


	Options Outstanding		Options Exercisable		Options Vested and Expected to Vest
Number (in thousands)	471		244		471
Weighted-average exercise price	$	1.82	$	1.85	$	1.82
Aggregate intrinsic value (in thousands)	$	1,101	$	1,101	$	571
Weighted average remaining contractual term (in years)	5.4		5.5		5.4

Compensation expense for RSAs is recognized over the estimated vesting period. Following is a summary of RSA activity (shares in thousands):


	RSAs Outstanding	Weighted- Average Grant Date Fair Value per Share
Outstanding at December 31, 2020	117	$	8.90



Outstanding at March 31, 2021	117	8.90
Granted	26	16

Vested	(88)	6.64
Outstanding at March 31, 2022	55	15.88

Following is a summary of RSU activity (shares in thousands):


	RSUs Outstanding	Weighted- Average Grant Date Fair Value per Share




Outstanding at December 31, 2020	1,722	$	4.91
Granted	52	27.58

Vested	(331)	5.83
Outstanding at March 31, 2021	1,443	5.52
Granted	602	12.11
Forfeited, canceled or expired	(102)	9.12
Vested	(592)	5.05
Outstanding at March 31, 2022	1,351	8.39

Following is a summary of PSU activity (shares in thousands):


	PSUs Outstanding	Weighted- Average Grant Date Fair Value per Share




Outstanding at December 31, 2020	323	$	7.62

Forfeited, canceled or expired	(60)	11.90

Outstanding at March 31, 2021	263	6.64
Granted and additional goal shares awarded	782	9.61
Forfeited, canceled or expired	(63)	8.74

Outstanding at March 31, 2022	982	8.87

Stock-based compensation expense, primarily included in general and administrative expense, was as follows (in thousands):


	Year Ended March 31,		Three-Months Ended March 31, (transition period)		Year Ended December 31,
	2022		2021		2020		2019
Stock options	$	177	$	45	$	182	$	61
RSAs	393		143		478		289
RSUs	4,053		785		2,533		609
PSUs	1,432		143		383		(410)
ESPP	207		56		158		70
	$	6,262	$	1,172	$	3,734	$	619

Certain other information regarding our stock-based compensation was as follows (in thousands):


	Year Ended March 31,		Three-Months Ended March 31, (transition period)		Year Ended December 31,
	2022		2021		2020		2019

Total intrinsic value of stock options exercised	$	2,273	$	81	$	66	$	84
Fair value of RSUs vested	8,288		7,623		6,662		354

ESPP activity was as follows (shares in thousands):


	Shares Available for Issuance	Weighted- Average Purchase Price		Weighted-Average Discount per Share


Balance at December 31, 2020	199

Balance at March 31, 2021	199
Employee shares purchased	(46)	$	10.65	$	1.18
Balance at March 31, 2022	153

Assumptions used in calculating the fair value of stock option grants and employee stock purchases were as follows:


	Year Ended March 31,		Three-Months Ended March 31, (transition period)		Year Ended December 31,
	2022	2021		2020		2019
	ESPP		ESPP		ESPP	Options	ESPP	Options
Dividend yield	—%		—%		—%	—%	—%	—%
Risk-free interest rate	—%		0.1%		0.9%	1.5%	2.3%	1.8%
Expected life (years)	N/A		N/A		N/A	N/A	N/A	N/A
Expected volatility	67%		88%		132%	64%	64%	55%