Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation (Tables)

v3.21.2
Stock Based Compensation (Tables)
9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Expense
The following table summarizes the stock-based compensation expense recognized under all of the Company’s stock plans for the three and nine months ended September 30, 2021 and 2020, and associated with the issuance of restricted shares of common stock and vesting of stock options, which are included in general and administrative expenses in the accompanying consolidated statements of operations (in thousands):

Three Months Ended
September 30,
Nine Months Ended
September 30,
2021 2020 2021 2020
Stock options $ 602  $ 298  $ 1,794  $ 1,270 
Restricted stock awards 818  350  2,528  1,288 
Total share-based compensation expense $ 1,420  $ 648  $ 4,322  $ 2,558 
Schedule of Stock Option Transactions Under Stock Option Plans
The Company’s outstanding stock options consisted of the following:
Shares
Weighted
Average
Exercise Price
Weighted
Average
Remaining
Contractual
Term
(Years)
Aggregate
Intrinsic
Value
(in thousands)
Options outstanding at January 1, 2021 725,864  $ 13.25  3.75 $ 3,400 
Options granted
24,437  23.24  —  — 
Options exercised
(40,000) 5.20  —  2,800 
Options forfeited
(9,826) 3.89  —  — 
Options outstanding at September 30, 2021 700,475  $ 14.18  3.18 $ 53,800 
Options exercisable at September 30, 2021 534,638  $ 9.71  2.24 $ 41,900 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions During the nine months ended September 30, 2021, the Company granted 24,437 stock options with a vesting period of two years to certain ApolloMed executives with an exercise price of $23.24, which were recognized at fair value, as determined using the Black-Scholes option pricing model and the following assumptions:
September 30, 2021 Executives
Expected term
3.5 years
Expected volatility
81.10  %
Risk-free interest rate
0.19  %
Market value of common stock
$ 12.86 
Annual dividend yield
—  %
Forfeiture rate
—  %
Schedule of Outstanding Warrants
The Company’s outstanding warrants consisted of the following:
Shares
Weighted
Average
Exercise Price
Weighted
Average
Remaining
Contractual
Term
(Years)
Aggregate
Intrinsic
Value
(in thousands)
Warrants outstanding at January 1, 2021 1,878,126  10.39  1.63 14,800 
Warrants granted
—  —  —  — 
Warrants exercised
(624,760) 10.23  —  20,618 
Warrants expired/forfeited
(17,803) 9.72  —  — 
Warrants outstanding at September 30, 2021 1,235,563  $ 10.49  1.19 99,500 

Exercise Price Per Share
Warrants
Outstanding
Weighted
Average
Remaining
Contractual Life
Warrants
Exercisable
Weighted
Average
Exercise Price
Per Share
$ 10.00  635,428 1.19 635,428  $ 10.00 
11.00  600,135 1.19 600,135  $ 11.00 
$ 10.00 – 11.00
1,235,563  1.19 1,235,563  $ 10.49