Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.22.1
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2021
Stockholders' Equity Note [Abstract]  
Summary of Activity of Restricted Stock Units
The following table summarizes activity of restricted stock units during 2021:

Number of
Restricted Stock Units
Weighted
Average Grant
Date Fair Value
Non-vested at December 31, 2020 1,250,000  $ 15.28 
Granted 1,445,600  13.02 
Vested (118,750) 12.85 
Forfeited (793,152) 13.68 
Non-vested at December 31, 2021 1,783,698  $ 14.18 
The following table summarizes activity of the restricted stock units during 2021:

Performance Condition Service Condition Market Condition
Restricted Stock Units
Weighted
Average
Grant Date
Fair Value
 Restricted Stock Units
Weighted
Average
Grant Date
Fair Value
 Restricted Stock Units
Weighted
Average
Grant Date
Fair Value
Non-vested at December 31, 2020 950,000  $ 15.70  200,000  $ 15.70  100,000  $ 10.45 
Granted 888,600  14.65 97,000  12.74 460,000  9.91
Vested (58,750) 15.66  (45,000) 8.81  (15,000) 14.01 
Forfeited (528,152) 15.20  —  —  (265,000) 10.63 
Non-vested at December 31, 2021 1,251,698  $ 15.15  252,000  $ 15.79  280,000  $ 8.42 
Share-based Payment Arrangement, Performance Shares, Valuation Assumptions
The input variables are noted in the table below:

2021 2020
Risk-free interest rate 1.03  % 0.18  %
Expected life in years 2.99 3
Expected volatility 65.9  % 65.9  %
Expected dividend yield * 0  % 0  %
* The Monte Carlo method assumes a reinvestment of dividends.