Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.20.4
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Key assumptions used in valuing market-based awards The key assumptions used in valuing these market-based awards were as follows:
2019
Risk-free interest rate 2.57  %
Dividend yield —  %
Expected volatility 85.00  %
Stock-based compensation expense activity
The following table reflects the outstanding RSAs and activity related thereto for the year ended December 31, 2020:


Service-based Awards Service and Performance-based Awards Service and Market-based Awards Service, Performance, and Market-based Awards
Number of Shares Weighted-average Grant Date Fair Value Number of Shares Weighted-average Grant Date Fair Value Number of Shares Weighted-average Grant Date Fair Value Number of Shares Weighted-average Grant Date Fair Value
Outstanding at December 31, 2019 41,398  $ 24.10  37,500  $ 27.00  118,962  $ 18.00  70,800  $ 9.80 
Shares granted 460,382  9.15  —  —  —  —  —  — 
Shares forfeited (271) 24.50  —  —  (106,800) 18.20  —  — 
Shares vested (232,907) 10.32  (21,250) 27.00  (6,917) 16.70  (31,600) 9.80 
Outstanding at December 31, 2020 268,602  $ 10.44  16,250  $ 27.00  5,245  $ 16.70  39,200  $ 9.80 
Performance award assumptions
The assumptions used to estimate the fair value of the 2019 Performance Award II granted as of the date presented are as follows:

Pre-Modification At Modification
January 4, 2019 December 13, 2019 December 13, 2019
Risk-free interest rate 2.57  % 1.53  % 1.53  %
Dividend yield —  % —  % —  %
Expected volatility 85.00  % 65.00  % 65.00  %