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Equitys (Tables)
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Summary of Stock Option Activity

A summary of stock option activity during the three years in the period ended December 31, 2020 is as follows:

 

 

 

Number of

options

 

 

Weighted

average

exercise

price

 

 

Weighted

average fair

value per

option

 

Outstanding and exercisable at January 1, 2018

 

 

2,232,400

 

 

$

7.52

 

 

$

1.40

 

Granted

 

 

1,590,000

 

 

$

13.02

 

 

$

2.01

 

Exercised

 

 

(635,800

)

 

$

6.22

 

 

$

1.11

 

Expired

 

 

(1,079,600

)

 

$

13.25

 

 

$

1.64

 

Outstanding and exercisable at December 31, 2018

 

 

2,107,000

 

 

$

9.13

 

 

$

1.82

 

Granted

 

 

120,000

 

 

$

9.57

 

 

$

0.82

 

Exercised

 

 

(578,000

)

 

$

6.29

 

 

$

1.58

 

Expired

 

 

(723,000

)

 

$

12.94

 

 

$

1.95

 

Outstanding and exercisable at December 31, 2019

 

 

926,000

 

 

$

7.98

 

 

$

1.72

 

Granted

 

 

1,825,000

 

 

$

9.41

 

 

$

1.98

 

Exercised

 

 

(433,000

)

 

$

6.46

 

 

$

1.88

 

Expired

 

 

(1,689,000

)

 

$

9.41

 

 

$

1.77

 

Outstanding and exercisable at December 31, 2020

 

 

629,000

 

 

$

9.35

 

 

$

2.22

 
Option Outstanding and Exercisable by Company Details of the options outstanding and exercisable as of December 31, 2020 are as follows:

 

Number of

options

granted

 

Vesting period

 

Exercise

price

 

 

Exercisable period

 

Weighted

remaining

contractual

life in months

 

In 2017

 

 

 

 

 

 

 

 

 

 

 

 

15,000

 

vest in January 2021

 

$

7.10

 

 

January 1, 2021 to December 31, 2021

 

 

12.0

 

In 2020

 

 

 

 

 

 

 

 

 

 

 

 

153,500

 

vest in January 2021

 

$

9.41

 

 

January 1, 2021 to December 31, 2021

 

 

12.0

 

153,500

 

vest in January 2022

 

$

9.41

 

 

January 1, 2022 to December 31, 2022

 

 

24.0

 

153,000

 

vest in January 2023

 

$

9.41

 

 

January 1, 2023 to December 31, 2023

 

 

36.0

 

153,000

 

vest in January 2024

 

$

9.41

 

 

January 1, 2024 to December 31, 2024

 

 

48.0

 

 

 
Weighted Average Fair Value Options Granted, Assumptions The weighted average fair values of options granted during 2018, 2019 and 2020 were $2.01, $0.82 and $1.98, respectively, using the Black-Scholes option-pricing model based on the following assumptions:

 

Year ended December 31,

 

2018

  

2019

 

2020

Risk-free interest rate

 

1.80% to 2.78%

 

1.71% to 2.10%

 

1.52% to 1.57%

Expected life

 

0.42 years to 2.58 years

 

0.52 years to 1.52 years

 

0.94 years to 4.95 years

Expected volatility

 

20.53% to 35.40%

 

23.14% to 25.46%

 

25.11% to 33.28%

Expected dividend yield

 

2.11% to 2.65%

 

2.93%

 

0.00%