Stockholders' Equity (Tables)
|
6 Months Ended |
Jun. 30, 2023 |
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| Stockholders' Equity |
|
| Schedule of Stock-Based Compensation Expense |
The following table summarizes the stock-based compensation expense from stock option, employee stock purchase programs and restricted Common Stock awards and warrants for the three and six months ended June 30, 2023 and 2022:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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($ in thousands) |
|
2023 |
|
2022 |
|
2023 |
|
2022 |
|
Employee and non-employee awards |
|
$ |
2,271 |
|
$ |
2,359 |
|
$ |
4,708 |
|
$ |
4,958 |
|
Executive awards of Fortress Companies' stock |
|
|
410 |
|
|
524 |
|
|
817 |
|
|
686 |
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Partner Companies: |
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Avenue |
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|
27 |
|
|
43 |
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|
38 |
|
|
612 |
|
Checkpoint |
|
|
567 |
|
|
729 |
|
|
1,536 |
|
|
1,504 |
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Mustang |
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|
45 |
|
|
650 |
|
|
280 |
|
|
1,315 |
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Journey |
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|
873 |
|
|
774 |
|
|
1,519 |
|
|
1,548 |
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Other |
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|
24 |
|
|
2 |
|
|
50 |
|
|
21 |
|
Total stock-based compensation expense |
|
$ |
4,217 |
|
$ |
5,081 |
|
$ |
8,948 |
|
$ |
10,644 |
|
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| Schedule of Stock Option Activities |
The following table summarizes Fortress stock option activities excluding activity related to Fortress partner companies:
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Weighted average |
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Total |
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remaining |
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Weighted average |
|
weighted average |
|
contractual life |
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|
Number of shares |
|
exercise price |
|
intrinsic value |
|
(years) |
Options vested and expected to vest at December 31, 2022 |
|
2,650,990 |
|
$ |
1.47 |
|
$ |
230,000 |
|
5.64 |
Forfeited |
|
(2,500) |
|
|
2.50 |
|
|
— |
|
— |
Expired |
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(245,000) |
|
|
8.88 |
|
|
— |
|
— |
Options vested and expected to vest at June 30, 2023 |
|
2,403,490 |
|
$ |
0.72 |
|
$ |
20,000 |
|
5.68 |
Options vested and exercisable at June 30, 2023 |
|
603,490 |
|
$ |
4.11 |
|
$ |
— |
|
1.16 |
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| Schedule of Restricted Stock Awards and Restricted Stock Units |
The following table summarizes Fortress restricted stock awards and restricted stock units activities, excluding activities related to Fortress Companies:
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Weighted |
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|
|
|
average grant |
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|
Number of shares |
|
price |
Unvested balance at December 31, 2022 |
|
20,550,027 |
|
$ |
2.36 |
Restricted stock granted |
|
2,578,588 |
|
|
0.66 |
Restricted stock vested |
|
(388,750) |
|
|
2.43 |
Restricted stock units granted |
|
190,000 |
|
|
0.75 |
Restricted stock units forfeited |
|
(157,500) |
|
|
2.66 |
Restricted stock units vested |
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(144,716) |
|
|
3.39 |
Unvested balance at June 30, 2023 |
|
22,627,649 |
|
$ |
2.15 |
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| Schedule of Warrant activities |
The following table summarizes Fortress warrant activities, excluding activities related to Fortress Companies:
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Total weighted |
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Weighted average |
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average |
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remaining |
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Number of |
|
Weighted average |
|
intrinsic |
|
contractual life |
|
|
shares |
|
exercise price |
|
value |
|
(years) |
Outstanding as of December 31, 2022 |
|
1,909,450 |
|
$ |
3.11 |
|
$ |
— |
|
7.45 |
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|
|
|
|
|
|
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Outstanding as of June 30, 2023 |
|
1,909,450 |
|
$ |
0.67 |
|
$ |
13,296 |
|
6.96 |
Exercisable as of June 30, 2023 |
|
1,774,450 |
|
$ |
0.57 |
|
$ |
0 |
|
7.12 |
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