STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of the stock option transactions

	Number	Weighted Average Exercise Price Per Share		Aggregate Intrinsic Value(1) (In thousands)		Weighted Average Remaining Contractual Life (Years)
Outstanding at December 31, 2019	—	$	—	$	—	—
Granted	557,844		28.32
Exercised	—		—
Forfeited	(79,692)		28.32
Outstanding at December 31, 2020	478,152		28.32	$	—	6.2
Granted	—		—
Exercised	—		—
Forfeited	—		—
Outstanding at December 31, 2021	478,152	$	28.32	$	—	5.2

(1) The period end intrinsic value of stock options was calculated as the amount by which the closing market price on December 31, 2021 and 2020 of the underlying stock exceeded the exercise price of the option.

Schedule of outstanding options by exercise price range

Outstanding						Exercisable(1)
					Weighted Average						Weighted Average
			Weighted Average		Remaining		Weighted Average		Aggregate		Remaining
Range of Grant			Exercise Price		Contractual Life		Exercise Price		Intrinsic		Contractual Life
Prices Per Share		Number	per Share		(Years )	Number	per Share		Value		(Years )
$	18.91	159,384	$	18.91	5.2	—	$	—	$	—	—
	28.23	159,384		28.23	5.2	—		—		—	—
	37.83	159,384		37.83	5.2	—		—		—	—

(1) At December 31, 2021, none of the Company’s stock options were exercisable due to service performance conditions or options exercise prices above current market value of the underlying stock.

Schedule of the restricted stock transactions

The following table sets forth the restricted stock transactions for the periods indicated:

	Number of Shares	Weighted Average Grant Date Fair Value Per Share		Aggregate Intrinsic Value(1) (In thousands)
Unvested outstanding shares at December 31, 2019	—	$	—	$	—
Granted	987,590		9.46
Vested	—		—
Forfeited	(113,456)		9.36
Unvested outstanding shares at December 31, 2020	874,134	$	9.48	$	3,287
Granted	12,000		8.00
Vested	(95,994)		11.51
Forfeited	(14,625)		11.89
Unvested outstanding shares at December 31, 2021	775,515	$	9.16	$	2,914

(1) The intrinsic value of restricted stock was calculated as the closing market price on December 31, 2021 and 2020 of the underlying stock multiplied by the number of restricted shares that would be issuable. The total fair value of shares vested was $1.1 million for the year ended December 31, 2021.

Restricted Stock

Schedule of assumptions used in calculating fair value of the Company's stock-based compensation

	Year Ended
	December 31, 2020
Weighted average value per performance based RSUs granted during the period	$	6.13
Assumptions:
Stock price volatility(1)		51.79	%
Risk free rate of return		1.22	%
Expected term		3.9	years

(1) Due to the Company’s limited historical data, expected volatility was estimated using volatilities of peer entities as defined in the award agreements whose share prices and assumptions were publicly available.

Stock options

Schedule of assumptions used in calculating fair value of the Company's stock-based compensation

	Year Ended
	December 31, 2020
Weighted average value per option granted during the period	$	3.36
Assumptions:
Stock price volatility(1)		61.87	%
Risk free rate of return		1.21	%
Expected term		4.75	years

(1) Due to the Company’s limited historical data, expected volatility was estimated using volatilities of similar entities whose share or option prices and assumptions were publicly available.