| Share-based Payment Arrangement, Option, Activity |
A summary of the employees’ stock option activity under the Legacy Plan for the year ended December 31, 2021 is as follows:
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Year ended
December 31, 2021 |
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Amount
of
options
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Weighted
average
exercise
price
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Weighted
average
remaining contractual term
(in years)
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|
Aggregate intrinsic value (in thousands) |
Outstanding at beginning of year
|
12,185,210
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$ |
0.37
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|
7.20 |
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$ |
3,100
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| Consultant has become employee |
628,509 |
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|
0.61 |
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| Granted |
1,590,997 |
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|
2.81 |
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| Forfeited |
(257,574) |
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|
0.91 |
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| Expired |
(51,018) |
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|
0.59 |
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| Exercised |
(2,973,476) |
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|
0.50 |
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Outstanding at end of year
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11,122,648
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$ |
0.82
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|
6.87 |
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$ |
64,818
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Exercisable options at end of year
|
7,139,268
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$ |
0.51
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|
5.73 |
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$ |
43,862
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A summary of the consultants’ stock option activity under the Plan for the year ended December 31, 2021 is as follows:
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Year ended
December 31, 2021 |
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Amount
of
options
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|
Weighted
average
exercise
price
|
|
Weighted
average
remaining contractual term
(in years)
|
|
Aggregate intrinsic value (in thousands) |
Outstanding at beginning of year
|
1,019,318
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$ |
0.51
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|
6.32 |
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$ |
213
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| Consultant has become employee |
(628,509) |
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|
0.61 |
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| Granted |
99,628 |
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|
2.81 |
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| Forfeited |
(27,581) |
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|
0.61 |
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| Expired |
— |
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— |
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| Exercised |
(283,229) |
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|
1.22 |
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Outstanding at end of year
|
179,627
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$ |
0.31
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|
2.34 |
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$ |
1,139
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Exercisable options at end of year
|
123,515
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$ |
0.35
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|
2.33 |
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$ |
778
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
The Company estimated the fair value of each option on the date of grant using the Black-Scholes option pricing model applying the weighted-average assumptions in the following table:
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Year ended December 31, |
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2021 |
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2020 |
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2019 |
Expected volatility |
65 |
% |
|
79 |
% |
|
70 |
% |
Expected dividends |
— |
% |
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— |
% |
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— |
% |
Expected term (in years) |
6.02 |
|
6.11 |
|
6.11 |
Risk free interest |
1.06%-1.11% |
|
0.62%-0.82% |
|
1.65%-1.91% |
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| Schedule Share Based Compensation Expenses |
During the years ended December 31, 2021, 2020 and 2019, the Company recorded stock-based compensation expenses for the employees as follows:
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Year ended December 31, |
|
2021 |
|
2020 |
|
2019 |
Cost of goods sold |
$ |
43 |
|
|
$ |
11 |
|
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$ |
6 |
|
Research and development |
501 |
|
|
121 |
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|
77 |
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Sales and marketing |
470 |
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|
196 |
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|
200 |
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General and administrative |
1,997 |
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|
92 |
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|
43 |
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Total
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$ |
3,011
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$ |
420
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$ |
326
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