Stock-Based Compensation and Other Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of stock options

Stock option activity for the years ended December 31, 2020 and 2019, are as follows

	Shares	Weighted-Average Exercise Price		Weighted-Average Fair Value
Outstanding as of January 1, 2019	—	$	—	$	—
Granted	3,000,000	1.93		1.25
Exercised	—	—		—
Forfeited	—	—		—
Outstanding as of January 1, 2020	3,000,000
Granted	1,327,795	1.12		0.62
Exercised	(111,298)	0.92		0.51
Forfeited	(556,497)	0.92		0.51
Outstanding as of
December 31, 2020	3,660,000
Vested or expected to vest at
December 31, 2020	1,111,298

Schedule of valuation assumptions

The following table sets forth significant assumptions used in the Monte Carlo model for market-based options to determine the fair value of the options at the date of grant:

	Year Ended December 31, 2020		Year Ended December 31, 2019
	Market-Based Options		Market-Based Options
Risk-free interest rate	0.12	%	1.84	%
Expected volatility of common stock	103.50	%	71.57	%
Expected life of options in years	2		7
Vesting period in years	2		7

The following table sets forth significant assumptions used in the Black Scholes model for time-vested options to determine the fair value of the options at the date of grant:

	Year Ended December 31, 2019
	Time-Vested Options
Initial stock price	$	1.93
Strike price	1.93
Term (in years)	6.5
Risk-free rate	1.8		%
Volatility rate	73.6		%

Schedule of restricted stock activity

Restricted stock share activity for the years ended December 31, 2020 and 2019, are as follows:

Restricted Stock Shares	Shares	Weighted- Average Fair Value at Date of Grant
Non-vested at January 1, 2019	1,050,372	$	3.47
Granted to employees	1,494,022	2.62
Vested	(615,941)	3.72
Forfeited	(299,433)	3.16
Non-vested at January 1, 2020	1,629,020	2.66
Granted to employees	3,114,978	0.83
Vested	(711,988)	2.94
Forfeited	(1,236,910)	1.65
Non-vested at December 31, 2020	2,795,100	$	1.00

Schedule of restricted stock unit activity

Restricted stock units activity for the years ended December 31, 2020 and 2019, are as follows:

Restricted Stock Units (1)	Units	Weighted- Average Fair Value at Date of Grant
RSUs at January 1, 2019	301,766	$	3.94
2018 forfeited	(272,046)	6.39
2019 granted	1,071,530	3.75
2019 forfeited	(62,776)	1.66
RSUs at January 1, 2020	1,038,474	3.24
2020 granted	922,786	1.19
2020 forfeited	(733,711)	3.79
RSUs at December 31, 2020	1,227,549	$	1.25

(1) Restricted stock units and performance stock units are disclosed in the preceding table.