Quarterly report pursuant to Section 13 or 15(d)

Equity and Stock-Based Compensation (Tables)

v3.22.0.1
Equity and Stock-Based Compensation (Tables)
3 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

The following table summarizes our stock option activity during the three months ended December 31, 2021:

 

 

 

Options

 

 

Weighted
Average
Exercise Price

 

Outstanding at beginning of period

 

 

608,269

 

 

$

6.48

 

Granted

 

 

81,500

 

 

 

15.43

 

Exercised

 

 

(12,083

)

 

 

5.77

 

Forfeited

 

 

(18,953

)

 

 

6.56

 

Outstanding at end of period

 

 

658,733

 

 

$

7.60

 

Exercisable at end of period

 

 

465,319

 

 

$

6.66

 

Weighted average fair value of options granted
   during the period

 

$

7.65

 

 

 

 

Schedule of Fair Value of Stock Option Using Black-Scholes Option Pricing Model

The fair value of options was estimated at the applicable grant date using the Black-Scholes option pricing model with the following assumptions:

 

 

 

Three Months Ended December 31, 2021

 

Risk free interest rate

 

 

1

%

Expected life

 

5 years

 

Dividend rate

 

 

%

Volatility

 

 

57

%