Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.24.0.1
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Stock Option Activity
Activity associated with stock options during the year ended December 31, 2023 is as follows:
Stock Options
 Shares Weighted Average Exercise Price
Weighted Average
Remaining
Contractual Life
(in years)
Aggregate
Intrinsic
Value
Outstanding at December 31, 2022
 24,926  $ 12.17 
Granted
 1,359  17.55 
Exercised
 (1,441) 10.94 
Forfeited or cancelled
 (221) 19.18 
Outstanding at December 31, 2023
 24,623  $ 12.47  3.7 $ 88,230 
Exercisable as of December 31, 2023
 21,231  $ 11.71  2.9 $ 88,228 
Weighted Average Assumptions Used in Determining Fair Value of Stock Options The following weighted average assumptions were used in determining the fair value of stock options granted:
Year Ended December 31,
2023 2022 2021
Dividend yield
 0.00  % 0.00  % 0.00  %
Risk-free interest rate (1)
3.88  % 2.24  % 0.97  %
Expected volatility (2)
52.50  % 55.00  % 58.50  %
Expected term of options (in years) (3)
6.3 6.3 6.1
Fair Value
 $ 9.63 $ 7.34 $ 10.42
(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.
Restricted Stock Unit Activity
Activity associated with restricted stock units during the year ended December 31, 2023 is as follows:
Restricted Stock Units
 Shares
Weighted Average Grant Date Fair Value
Nonvested at December 31, 2022
 2,486  $ 15.30 
Granted
 1,131  17.41 
Vested
 (622) 15.51 
Forfeited
 (525) 14.90 
Nonvested at December 31, 2023
 2,470  $ 16.30