Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Stock Option Activity
Stock option activity for the nine months ended September 30, 2021 is as follows:
Shares Weighted Average
Exercise Price
Outstanding as of December 31, 2020 21,119 $ 11.00
Granted 3,189 19.32
Forfeited (190) 17.41
Outstanding as of September 30, 2021 $ 24,118 12.05
Exercisable as of September 30, 2021 $
Weighted Average Assumptions Used in Determining Fair Value of Stock Options The following weighted average assumptions were used in determining the fair value of these options:
Nine Months Ended September 30, 2021
Dividend yield 0.00%
Risk-free interest rate (1)
Expected volatility (2)
Expected term of options (in years) (3)
Fair Value $ 10.71
(1)The risk-free rate is based on the U.S. treasury yields, in effect at the time of grant or modification, corresponding with the expected term of the options.
(2)Expected volatility is based on historical volatilities for a time period similar to that of the expected term of the options.
(3)Expected term of the options is based on probability and expected timing of market events leading to option exercise.