Equity (Tables)

6 Months Ended

Jun. 30, 2022

The following is a summary of stock issuances that occurred during the six months ended June 30, 2022:

Date of Issue	Employees or Director	Shares Issued		Value of Shares Issued
January 1, 2022	Employee		3,300	$	6.36
March 6, 2022	Directors		8,160		8.06
March 6, 2022	Employees		23,866		8.06
March 8, 2022	Directors		12,000		7.82
March 8, 2022	Employee		29,262		7.82
March 13, 2022	Directors		10,200		7.71
March 13, 2022	Employees		17,893		7.71
April 11, 2022	Employee		38,800		7.39
June 2, 2022	Directors		18,000		7.07
June 3, 2022	Directors		5,940		7.02
			167,421	$	7.63

Summary of Common Stock Repurchases

The below table summarizes shares repurchased from employees during the current year through June 30, 2022:

Date of Purchase	Shares Purchased		Closing Price on Date of Purchase
March 6, 2022		6,035	$	8.06
March 8, 2022		7,395	$	7.82
March 13, 2022		3,924	$	7.71
April 11, 2022		12,300	$	7.39
		29,654

Restricted Stock Units Outstanding

The following table contains information regarding restricted stock units during the current year through June 30, 2022:

	June 30, 2022
Outstanding on January 1, 2022		286,227
Units granted during the period		194,000
Vested and issued		(137,767	)
Vested-issued and repurchased for income tax withholding		(29,654	)
Forfeited		(8,981	)
Outstanding on June 30, 2022		303,825

Summary of Assumptions for Stock Options

On May 3, 2022, in connection with his appointment, Mr. Coffey was also granted 100,000 stock options with an exercise price of $4.13 per share. The options vest ratably on each of the first three anniversary dates of Mr. Coffey’s appointment date, subject to his continued service with the Company on each vesting date. Compensation expense related to the Company’s stock options was $48 and $52 for the three and six months ended June 30, 2022, respectively, compared to $9 and $19 for the comparable prior periods. Additional compensation expense related to Mr. Coffey’s options will be $132, $159 and $66 the remainder of 2022, 2023 and 2024, respectively.

	Grant date 5/3/2022
Dividend yields		—
Expected volatility		55.0	%
Risk free interest rate		3.02	%
Expected life (in years)		6
Fair value of the option granted	$	4.13