STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock Incentive Plans

We have one long-term equity incentive plan which we refer to as the 2006 Equity Incentive Plan, which we first amended and restated as of April 20, 2015 and again on March 9, 2017 (“the Restated Plan”). The Restated Plan was approved by our stockholders at our annual stockholders meeting on June 8, 2017. We have reserved for issuance under the 2017 Restated Plan 14,000,000 shares of common stock. We can issue options (incentive and non-qualified), stock awards, stock appreciation rights, stock units and cash awards under the Restated Plan.

Options

Certain options granted under the Restated Plan to employees are intended to qualify as incentive stock options under existing tax regulations. Stock options generally vest over three to five years and expire five to ten years from the date of grant.

As of December 31, 2020, we had outstanding options to acquire 527,899 shares of our common stock, of which options to acquire 307,196 shares were exercisable. The following summarizes all of our option transactions for the twelve months ended December 31, 2020:


Outstanding Options Under the 2006 Plan	Shares	Weighted Average Exercise price Per Common Share		Weighted Average Remaining Contractual Life(in years)	Aggregate Intrinsic Value
Balance, December 31, 2019	478,951	$	8.21
Granted	48,948	20.43


Balance, December 31, 2020	527,899	9.34		6.34	$	5,441,129
Exercisable at December 31, 2020	307,196	7.59		5.49	3,679,803

Aggregate intrinsic value in the table above represents the total pretax intrinsic value (the difference between our closing stock price on December 31, 2020 and the exercise price, multiplied by the number of in-the-money options as applicable) that would have been received by the holder had all holders exercised their options on December 31, 2020. As of December 31, 2020, total unrecognized stock-based compensation expense related to non-vested employee awards was $0.6 million which is expected to be recognized over a weighted average period of approximately 1.50 years.

DeepHealth Options

During the second quarter of fiscal 2020, in connection with the completion of the DeepHealth acquisition, we granted 412,434 options at a grant date fair value of $16.93 per share unit to DeepHealth employees in replacement of their stock options that were outstanding as of the closing date. As of December 31, 2020, total unrecognized stock based compensation expense related to non-vested DeepHealth options was approximately $3.9 million which is expected to be recognized over a weighted average period of approximately 2.29 years.


Outstanding Options Under the Deep Health Plan	Shares	Weighted Average Exercise price Per Common Share		Weighted Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value
Balance, December 31, 2019	—
Granted, June 1, 2020	412,434	$	—
Exercised	(11,895)	—
Balance, December 31, 2020	400,539	—		8.40	$	7,710,376
Exercisable at December 31, 2020	26,545	—		8.40	510,994

Restricted Stock Awards (“RSA’s”)

The Restated Plan permits the award of restricted stock awards (“RSA’s”). As of December 31, 2020, we have issued a total of 6,551,872 RSA’s of which 329,159 were unvested at December 31, 2020 . The following summarizes all unvested RSA’s activities during the twelve months ended December 31, 2020:


	RSA's	Weighted-Average Remaining Contractual Term (Years)	Weighted-Average Fair Value
RSA's unvested at December 31, 2019	387,934		$	11.61
Changes during the period
Granted	457,596		$	19.66
Vested	(516,371)		$	16.37

RSA's unvested at December 31, 2020	329,159	0.87	$	16.69

We determine the fair value of all RSA’s based of the closing price of our common stock on award date.

Other stock bonus awards

The Restated Plan also permits the award of stock bonuses not subject to any future service period. These awards are valued and expensed based on the closing price of our common stock on the date of award. During the twelve months ended December 31, 2020 we issued 66,078 shares relating to these awards, approximately amounting to $1.0 million of compensation expense.

Plan summary

In summary, of the 14,000,000 shares of common stock reserved for issuance under the Restated Plan, at December 31, 2020, we had issued 15,424,316 total shares between options, RSA’s and other stock awards. With options cancelled and RSA’s forfeited amounting to 3,281,040 and 61,703 shares, respectively, there remain 1,918,427 shares available under the Restated Plan for future issuance.