SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of performance-based option pricing model

The following assumptions were used to determine the fair values as of the grant date:

	Three months ended March 31, 2022
	Black-Scholes
Risk-free interest rate (%)	1.62
Expected stock price volatility (%)	67.75		%
Expected dividend yield	—
Expected option life (in years)	6.00
Fair value	$	7.27

Summary of the weighted average fair value of stock options granted, the total intrinsic value of stock options exercised and the fair value of options vested

The following table summarizes the grant date fair value of stock options that vested during the periods presented:

	Three months ended March 31,
(in thousands, except per share data)	2022		2021
Weighted average grant date fair value of stock options granted per share	$	8.19	$	—
Intrinsic value of options exercised	—		—
Grant date fair value of stock options that vested	1,031		1,186

Summary of the activity of the entity's stock options

The following table summarizes the activity related to our stock options:

	Number of options	Weighted average exercise price		Weighted average contractual term (in years)	Aggregate intrinsic value (in thousands)
Outstanding as of December 31, 2021	687,339	$	27.99	4.57	$	—
Granted	105,000	11.86
Forfeited	(59,900)	59.99
Outstanding as of March 31, 2022	732,439	27.35		5.47	—
Exercisable as of March 31, 2022	544,190	25.45		4.92	—

Restricted stock and restricted stock units activity

The following table summarizes the activity related to our restricted shares and restricted share units:

	Number of restricted shares and restricted share units
Outstanding as of December 31, 2021	677,175
Granted	387,761
Issued	(146,567)
Forfeited/canceled	(126,564)
Outstanding as of March 31, 2022	791,805