Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity

The following table summarizes stock option activity for the nine months ended September 30, 2020:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life
Outstanding as of December 31, 2019		6,340,000		$	3.92		8.22
Granted		420,500			10.46
Exercised		(34,374	)		3.90
Forfeited / cancelled		(474,900	)		4.37
Outstanding as of September 30, 2020		6,251,226		$	4.32		7.53
Vested and exercisable as of December 31, 2019		2,684,160		$	3.58		7.41
Vested and exercisable as of September 30, 2020		3,643,514		$	3.72		6.88

Summary of Weighted Average Assumptions Used in Calculation of Fair Value Using Black-Scholes Option Pricing Model

The grant date fair value of stock options granted during the nine months ended September 30, 2020 was estimated at the time of grant using the Black-Scholes option-pricing model and utilized the following weighted average assumptions:

	Nine Months Ended September 30,
Fair value of common stock (per share)	$	10.46
Expected term (in years)	5.9 — 6.3
Risk-free interest rate	1.7%
Expected volatility	36.3% — 36.6%
Dividend yield	—%

Summary of Activity for Restricted Stock Units

The following table summarizes activity for restricted stock units (“RSUs”) for the nine months ended September 30, 2020:

	Shares			Weighted Average Grant Date Fair Value per Share
Unvested and outstanding as of December 31, 2019		408,000		$	4.01
Granted		2,042,286			11.56
Vested		(237,334	)		3.86
Forfeited / cancelled		(7,000	)		11.57
Unvested and outstanding as of September 30, 2020		2,205,952		$	10.99

Summary of RSAs Activity

The following table summarizes the activity related to the Company’s RSAs for the nine months ended September 30, 2020:

	Shares
Unvested at December 31, 2019		272,868
Vested		(272,868	)
Unvested at September 30, 2020		—