STOCK-BASED COMPENSATION (Tables) - OLD PlayStudios, Inc.
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3 Months Ended |
12 Months Ended |
Mar. 31, 2021 |
Dec. 31, 2020 |
| Summary of stock-based compensation expense recorded in income from operations |
The following table summarizes stock-based compensation expense that the Company recorded in income from operations for the years shown:
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Three Months Ended March 31,
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2021
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2020
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Selling and marketing
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$
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21
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$
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24
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General and administrative
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383
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263
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Research and development
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496
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338
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Stock-based compensation expense
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$
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900
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$
|
625
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Capitalized stock-based compensation expense
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$
|
209
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$
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162
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The following table summarizes stock-based compensation expense that the Company recorded in income from operations for the years shown (in thousands):
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Year Ended December 31,
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2020
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2019
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2018
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Selling and marketing
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$
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94
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$
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85
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$
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442
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General and administrative
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1,044
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964
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7,328
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Research and development
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2,381
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4,835
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|
3,132
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Stock-based compensation expense
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$
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3,519
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$
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5,884
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$
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10,902
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Capitalized stock-based compensation
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$
|
605
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$
|
912
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$
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1,405
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| Summary of stock option activity for time-based and performance-based options |
The following is a summary of stock option activity for time-based and performance-based options during the three months ended March 31, 2021 (in thousands, except weighted-average exercise price and remaining term):
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Weighted-
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Weighted-
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Average
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Average
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Remaining
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Exercise
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Term
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Aggregate
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No. of Options
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Price
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(in Years)
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Intrinsic Value
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Outstanding - December 31, 2020
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77,640
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$
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0.20
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Granted
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550
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1.83
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Exercised
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(3,161)
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0.26
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Forfeited
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(695)
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0.36
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Expired
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(59)
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0.32
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Outstanding - March 31, 2021
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74,275
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0.21
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6.9
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$
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84,448
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Unvested - March 31, 2021
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36,467
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0.18
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8.1
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42,426
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Exercisable - March 31, 2021
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37,808
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0.23
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5.6
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42,022
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The following is a summary of stock option activity for time-based and performance-based options for the year ended December 31, 2020 (in thousands, except weighted-average exercise price and remaining term):
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Weighted-
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Weighted-
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Average
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Aggregate
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Average
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Remaining
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Intrinsic
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No. of Options
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Exercise Price
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Term (in Years)
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Value
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Outstanding - December 31, 2019
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91,300
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$
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0.16
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Granted
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7,080
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0.40
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Exercised
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(16,314)
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0.06
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Forfeited
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(3,255)
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0.33
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Expired
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(1,171)
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0.19
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Outstanding - December 31, 2020
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77,640
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0.20
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7.1
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$
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88,615
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Unvested - December 31, 2020
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39,942
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0.17
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8.3
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46,669
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Exercisable - December 31, 2020
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37,698
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0.23
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5.8
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41,946
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| Summary of weighted-average assumptions used to estimate fair value of stock options granted |
The following table presents the weighted-average assumptions used to estimate the fair value of the stock options granted in the Company’s consolidated financial statements:
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Three Months Ended March 31,
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2021
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2020
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Expected term (in years)
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5.86
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5.85
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Expected volatility
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51.24
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%
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58.45
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%
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Risk-free interest rate range
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0.54%-0.60
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%
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0.41%-0.47
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%
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Dividend yield
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0
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%
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0
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%
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Grant-date fair value
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$
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0.52
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$
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0.29
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The following table presents the weighted-average assumptions used to estimate the fair value of the stock options granted in the Company’s consolidated financial statements:
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Year Ended December 31,
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2020
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2019
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2018
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Expected term (in years)
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5.96
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5.93
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5.99
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Expected volatility
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59.56
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%
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70.00
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%
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63.12
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%
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Risk-free interest rate range
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0.24%-0.51
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%
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1.54%-2.59
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%
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2.77%-3.13
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%
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Dividend yield
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0
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%
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0
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%
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0
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%
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Grant-date fair value
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$
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0.60
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$
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0.27
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$
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0.19
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| Summary of stock-based compensation expense related to stock repurchases and sales |
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The following table summarizes stock-based compensation expense related to stock repurchases and sales for the years ended December 31, 2020, 2019 and 2018 (in thousands).
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Year Ended December 31, 2020
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Shares
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Expensed
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Capitalized
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Total
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Stock repurchase through exercise of right of first refusal
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25
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$
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25
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$
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—
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$
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25
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Total
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$
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25
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$
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$
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25
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Year Ended December 31, 2019
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Shares
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Expensed
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Capitalized
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Total
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Stock repurchase through exercise of right of first refusal
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9,570
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$
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2,881
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$
|
119
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$
|
3,000
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Total
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$
|
2,881
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$
|
119
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$
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3,000
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Year Ended December 31, 2018
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Shares
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Expensed
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Capitalized
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Total
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Secondary transaction between employees and MGM
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10,050
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$
|
6,485
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$
|
349
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$
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6,834
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Secondary transaction between employees and existing investors
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6,128
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2,040
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|
190
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|
2,230
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Stock repurchase through exercise of right of first refusal
|
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2,130
|
|
|
707
|
|
|
148
|
|
|
855
|
|
Total
|
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|
|
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$
|
9,232
|
|
$
|
687
|
|
$
|
9,919
|
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