As of December 31, 2021, the Company had $12,752 of unrecognized stock-based compensation expense related to the stock options. This cost is expected to be recognized over a weighted-average period of 2.1 years. The Company settles all exercised stock options by issuing shares of the Company's common stock without netting down the portion related to payroll withholding tax obligations. Restricted Stock Units The grant date fair value of the restricted stock units is determined based on the closing price of the Company’s common stock on the NASDAQ Composite Index on the date of grant. Each grant of restricted stock units made to a participant vests over a requisite service period of 1 to 4 years. The Company intends to settle all vested restricted stock unit payments held by United States-based participants in shares of the Company’s common stock and classifies these awards as equity awards in its Consolidated Balance Sheets. Awards held by participants who are based outside of the United States will be settled in cash and are classified within accrued and other current liabilities in the Consolidated Balance Sheets as of December 31, 2021 and 2020. The following table summarizes the activity related to the unvested restricted stock units during the years ended December 31, 2021 and 2020: Number of Units WeightedAverage GrantDate Fair Value Unvested restricted stock units outstanding - December 31, 2019 705,415 $ 2.68 Granted 179,558 $ 1.81 Vested (540,711) $ 3.10 Forfeited (90,954) $ 1.41 Unvested restricted stock units outstanding - December 31, 2020 253,308 $ 1.64 Vested (118,603) $ 1.52 Forfeited (15,000) $ 1.23 Unvested restricted stock units outstanding - December 31, 2021 119,705 $ 1.81 Unrecognized compensation expense related to unvested restricted stock units was $129 at December 31, 2021, which is expected to be recognized as expense over the weighted-average period of 1.2 years. The total fair value of RSUs that vested during the years ended December 31, 2021 and 2020 was $385 and $1,516, respectively. During the years ended December 31, 2021 and 2020, the Company issued 100,053 and 391,738 shares, respectively, of common stock to participants of the 2016 Plan based in the United States, after withholding approximately 18,550 and 249,249 shares, respectively, to satisfy tax withholding obligations. The Company made a cash payment of $50 and $698 to cover employee withholding taxes upon the settlement of these vested restricted stock units during the years ended December 31, 2021 and 2020, respectively. NantHealth, Inc. Notes to Consolidated Financial Statements (Dollars in thousands, except per share amounts) - 133 -
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