Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.22.4
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Stock-Based Compensation (Details) - Schedule of weighted average grant date fair value of options granted [Line Items]  
Schedule of weighted average grant date fair value of options granted Assumptions used for the options granted during the twelve months ended December 31, 2022 and 2021 are as follows:

 

 

Twelve Months Ended December 31,

 

 

2022

 

 

2021

 

Expected Volatility

 

81

%

 

 

65

%

Expected Dividend

 

—

 

 

 

—

 

Expected Term in Years

 

5.00

 

 

 

6.08

 

Expected Forfeitures

 

0

%

 

 

0

%

Risk Free Interest Rate

 

0.99

%

 

0.59% - 0.67%

 
Schedule of represents activity within the 2021 Plan

The following table represents option activity since December 31, 2020:

 

 

 

 

 

 

Weighted

 

 

Weighted

 

 

 

 

 

 

 

 

Average

 

 

Average

 

 

 

 

 

 

 

 

Exercise

 

 

Remaining

 

Aggregate

 

 

 

Number

 

 

Price Per

 

 

Contractual

 

Intrinsic

 

 

 

of Options

 

 

Option

 

 

Term

 

Value

 

Options outstanding at December 31, 2020

 

 

35,453,516

 

 

$

0.38

 

 

8.1 Years

 

$

266,548

 

Options granted

 

 

6,524,723

 

 

 

2.57

 

 

 

 

 

 

Options exercised

 

 

(2,062,803

)

 

 

0.34

 

 

 

 

$

(13,268

)

Options forfeited

 

 

(539,915

)

 

 

0.93

 

 

 

 

 

 

Options expired

 

 

(1,916,974

)

 

 

0.20

 

 

 

 

 

 

Options outstanding at December 31, 2021

 

 

37,458,547

 

 

$

0.80

 

 

7.6 Years

 

$

121,108

 

Options granted

 

 

5,901,846

 

 

 

0.94

 

 

 

 

 

 

Options exercised

 

 

(6,961,252

)

 

 

0.46

 

 

 

 

$

5,782

 

Options forfeited

 

 

(2,837,443

)

 

 

1.10

 

 

 

 

 

 

Options expired

 

 

(475,316

)

 

 

1.59

 

 

 

 

 

 

Options outstanding at December 31, 2022

 

 

33,086,382

 

 

$

0.86

 

 

6.6 Years

 

$

5,234

 

Exercisable at December 31, 2022

 

 

24,956,089

 

 

 

0.68

 

 

6.2 Years

 

$

4,883

 

Unvested at December 31, 2022

 

 

8,130,293

 

 

$

1.41

 

 

 

 

 

 

 

10,730,913
Schedule of represents activity RSU and PSU

The following table represents RSU and PSU activity since December 31, 2021:

 

 

 

Market PSUs

 

 

KPI PSUs

 

 

RSUs

 

 

 

 

 

 

Weighted

 

 

 

 

 

Weighted

 

 

 

 

 

Weighted

 

 

 

 

 

 

Average Grant

 

 

 

 

 

Average Grant

 

 

 

 

 

Average Grant

 

 

 

 

 

 

Date Fair

 

 

 

 

 

Date Fair

 

 

 

 

 

Date Fair

 

 

 

 

 

 

Value

 

 

 

 

 

Value

 

 

 

 

 

Value

 

 

 

Units

 

 

Per Unit

 

 

Units

 

 

Per Unit

 

 

Units

 

 

Per Unit

 

Units outstanding at December 31, 2021

 

 

—

 

 

$

—

 

 

 

—

 

 

$

—

 

 

 

627,228

 

 

$

5.97

 

Units granted

 

 

10,020,124

 

 

 

0.87

 

 

 

2,672,131

 

 

 

1.97

 

 

 

21,655,225

 

 

 

1.76

 

Units forfeited

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2,123,642

)

 

 

1.89

 

Units vested

 

 

—

 

 

 

—

 

 

 

(44,803

)

 

 

1.10

 

 

 

(2,427,142

)

 

 

2.77

 

Units outstanding at December 31, 2022

 

 

10,020,124

 

 

$

0.87

 

 

 

2,627,328

 

 

$

1.98

 

 

 

17,731,669

 

 

$

1.75

 
Market PSUs  
Stock-Based Compensation (Details) - Schedule of weighted average grant date fair value of options granted [Line Items]  
Schedule of weighted average grant date fair value of options granted Assumptions used for the Market PSUs granted during the twelve months ended December 31, 2022 are as follows:

 

 

Twelve Months Ended

 

 

December 31, 2022

 

Expected Volatility

53% - 80%

 

Expected Dividend

 

—

 

Expected Term in Years

3.30 - 4.00

 

Risk Free Interest Rate

2.10% - 4.50%

 

Cost of Equity

11.90% - 13.90%