Annual report pursuant to Section 13 and 15(d)

Share-based compensation (Tables)

v3.24.1.u1
Share-based compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Options Granted and Outstanding

The following table provides detail of the options granted and outstanding (dollars in thousands): 

 

    Options    

Weighted

Average

Exercise Price

     Weighted
Average
Remaining
Contractual
Life (Years)		     Aggregate
Intrinsic Value		  
Options outstanding as of December 31, 2021     61     $ 6.10       8.5     $ —  
Granted     14     $ 2.24                  
Forfeited/Expired     (5 )   $ 5.26                  
Options outstanding as of December 31, 2022     70     $ 5.39       7.2     $ —  
                                 
Options exercisable as of December 31, 2022     49     $ 5.84       6.5     $ —  
Fully vested options as of December 31, 2022     49     $ 5.84       6.5     $ —  
Options expected to vest as of December 31, 2022     21     $ 4.32       8.8     $ —  

 

    Options    

Weighted
Average

Exercise Price

     Weighted
Average
Remaining
Contractual
Life (Years)		     Aggregate
Intrinsic Value		  
Options outstanding as of December 31, 2022     70     $ 5.39       7.2     $ —  
Granted     5       0.35                  
Forfeited/Expired     (21 )     5.19                  
Options outstanding as of December 31, 2023     54     $ 5.03       5.7     $ —  
                                 
Options exercisable as of December 31, 2023     46     $ 5.54       5.2     $ —  
Fully vested options as of December 31, 2023     46     $ 5.54       5.2     $ —  
Options expected to vest as of December 31, 2023     8     $ 1.74       8.9     $ —  
Schedule of Fair Value Assumptions

The fair value of an option award is estimated on the date of grant using the Black–Scholes option valuation model, using the following assumptions primarily based on historical data:

 

      Years Ended December 31,  
      2023       2022  
Risk-free interest rate     0.33 - 4.02 %     1.70 - 4.02 %
Expected volatility (1)     0.0% - 72.5 %     65.0% - 72.5 %
Expected dividend yield     — %     — %
Expected life (years) (2)     0 - 7.6       6.0 - 6.5  

 

(1) Expected volatility was determined using a combination of historical volatility and implied volatility.
(2) For certain options, the simplified method is utilized to determine the expected life due to the lack of historical data.