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Stock Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Expense
The following table summarizes the stock-based compensation expense recognized under all of the Company’s stock plans for the three months ended March 31, 2021 and 2020, and associated with the issuance of restricted shares of common stock and vesting of stock options, which are included in general and administrative expenses in the accompanying consolidated statements of income (in thousands):

Three Months Ended March 31, 2021Three Months Ended March 31, 2020
Stock options$589 $674 
Restricted stock awards757 384 
Total share-based compensation expense$1,346 $1,058 
Schedule of Stock Option Transactions Under Stock Option Plans
The Company’s outstanding stock options consisted of the following:
Shares
Weighted
Average
Exercise Price
Weighted
Average
Remaining
Contractual
Term
(Years)
Aggregate
Intrinsic
Value
(in thousands)
Options outstanding at January 1, 2021725,864 $13.25 3.75$3,400 
Options granted
24,437 23.24 — — 
Options exercised
— — — — 
Options forfeited
(9,826)3.89 — — 
Options outstanding at March 31, 2021740,475 $13.70 3.60$9,900 
Options exercisable at March 31, 2021484,638 $7.26 2.04$7,800 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
During the three months ended March 31, 2021, the Company granted 24,437 stock options with a vesting period of two years to certain ApolloMed executives with an exercise price of $23.24, which were recognized at fair value, as determined using the Black-Scholes option pricing model and the following assumptions:
March 31, 2021Executives
Expected term
3.5 years
Expected volatility
81.10 %
Risk-free interest rate
0.19 %
Market value of common stock
$12.86 
Annual dividend yield
0 %
Forfeiture rate
0 %
Schedule of Outstanding Warrants
The Company’s outstanding warrants consisted of the following:
Shares
Weighted
Average
Exercise Price
Weighted
Average
Remaining
Contractual
Term
(Years)
Aggregate
Intrinsic
Value
(in thousands)
Warrants outstanding at January 1, 20211,878,126 $10.39 1.63$14,800 
Warrants granted
— — — — 
Warrants exercised
(421,002)10.11 — 6,200 
Warrants expired/forfeited
(17,803)9.72 — — 
Warrants outstanding at March 31, 20211,439,321 $10.49 1.69$23,900 

Exercise Price Per Share
Warrants
Outstanding
Weighted
Average
Remaining
Contractual Life
Warrants
Exercisable
Weighted
Average
Exercise Price
Per Share
$10.00 738,273 1.69738,273 $10.00 
11.00 701,048 1.69701,048 11.00 
$ 10.00 –11.00
1,439,321 1.691,439,321 $10.49