Stock-Based Compensation Plan (Tables)

3 Months Ended

Mar. 31, 2023

Stock-Based Compensation Plan

Summary of weighted-average assumptions

The Company utilized the Black-Scholes valuation model for estimating the fair value of the stock options granted, with the following weighted-average assumptions for options granted in the three months ended March 31, 2023 and 2022, respectively:

	2023		2022
Risk-free interest rate (1)	—	%	2.43	%
Expected volatility (1)	—	%	127	%
Expected term in years (1)	—		6.0
Dividend yield (1)	—	%	—	%

Schedule of option activity under stock-based compensation plans

The following summary represents option activity under the Company’s stock-based compensation plans for the three months ended March 31, 2023:

		Weighted-
		Average
		Exercise
	Options	Price
	(in thousands)
Outstanding at December 31, 2022	658	$	11.67
Granted	—		—
Forfeited	—		—
Expired	—		—
Outstanding at March 31, 2023	658	$	11.67
Vested and expected to vest March 31, 2023	640	$	11.85
Exercisable at March 31, 2023	393	$	16.08