Quarterly report pursuant to Section 13 or 15(d)

SHARE-BASED COMPENSATION (Tables)

v3.22.1
SHARE-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Schedule of summarizes share-based compensation expense
               
    Three Months Ended
March 31,		  
    2022     2021  
Research and development   $ 966     $ 214  
Sales and marketing     1,083       140  
General and administrative     4,474       293  
Cost of sales     41       14  
Total share-based compensation   $ 6,564     $ 661  
Schedule of common stock options
                                 
      Number of
Shares		     Weighted
Average
Exercise
Price		     Weighted
Average
Remaining
Contractual
Life (Years)		     Weighted-
Average
Grant Date
Fair Value		  
Outstanding, December 31, 2021       5,489,492     $ 4.23       6.05     $ 2.27  
Granted       803,760       3.70       -       1.69  
Exercised       -       -       -       -  
Forfeited       (9,607 )     6.29       -       2.46  
Expired       (139,172 )     5.10       -       2.73  
Outstanding, March 31, 2022(a)       6,144,473     $ 4.14       6.47     $ 2.18  
                                   
Exercisable, March 31, 2022(b)       4,109,406     $ 3.93       5.38     $ 2.06  

 

 
(a) The aggregate intrinsic value of all stock options outstanding as of March 31, 2022 was $0.8 million.
(b) The aggregate intrinsic value of all vested/exercisable stock options as of March 31, 2022 was $0.8 million.
Schedule of Unvested Restricted Stock Units
                 
      Number of
Shares		     Weighted
Average
Grant Date
Fair Value		  
Outstanding (nonvested), December 31, 2021       351,831     $ 9.63  
Granted       -       -  
Forfeited       -       -  
Outstanding (nonvested), March 31, 2022       351,831     $ 9.63  

 

As of March 31, 2022, there was $1.2 million of unrecognized compensation expense related to RSAs to be recognized over a weighted average period of 0.37 years.

 

Restricted Stock Units

 

As part of the consideration in the Business Combination, RSUs with respect to 1,750,000 shares of Common Stock were granted to the participants in Legacy Airspan’s MIP. For the RSUs granted to MIP Participants, the weighted average grant date fair value was $9.75 per share. The RSUs granted in connection with the MIP vest one year after the date of the grant.

 

The following table sets forth the activity for all RSUs:

 

      Number of
RSUs		     Weighted
Average
Grant Date
Fair Value		  
Outstanding (nonvested), December 31, 2021       2,962,884     $ 8.60  
Granted       743,670       3.72  
Forfeited       (88,000 )     6.94  
Outstanding (nonvested), March 31, 2022       3,618,554     $ 7.64