Shared Based Compensation
|6 Months Ended|
Jun. 30, 2022
|Share-Based Payment Arrangement [Abstract]|
|Shared Based Compensation||
Note 12. Shared Based Compensation
On December 23, 2021, the Company executed the Fathom Digital Manufacturing 2021 Omnibus Incentive Plan (the "2021 Omnibus Plan") to encourage the profitability and growth of the Company through short-term and long-term incentives that are consistent with the Company's objectives. The 2021 Omnibus Plan provides that the Company may grant options, stock appreciation rights, restricted shares, restricted stock units,
performance-based awards (including performance-based restricted shares and restricted stock units), other share-based awards, other cash-based awards, and any combination of the foregoing.
Share Based Compensation Expense
Share based compensation was $1,795 and $31 for the three months ended June 30, 2022 and June 30, 2021, respectively, and $3,925 and $31 for the six months ended June 30, 2022 and June 30, 2021, respectively.
In February 2022, the Company granted stock options to purchase up to 317,091 shares of Class A common stock at a weighted average exercise price of $8.71 per share which generally vest over a requisite service period of three years. The total intrinsic value of options exercised during the three and six months ended June 30, 2022 was $0.
The following table summarizes provides the assumptions used in the Black-Scholes model valuation of stock options for the six months ended June 30 2022:
At June 30, 2022, there was approximately $1,200 of total unrecognized compensation cost related to unvested stock options granted under the 2021 Omnibus Plan. That cost is expected to be recognized over a weighted average period of 2.67 years as of June 30, 2022.
The Company currently uses authorized and unissued shares to satisfy share award exercises.
Restricted Stock Units and Restricted Stock
Restricted stock unit awards are share-settled awards and restrictions lapse ratably over the vesting period, which is generally a period of to three years. subject to the employee's continuing service to the Company. Restricted stock awards are awards of shares subject to vesting and any other conditions specified in the related award agreements.
A summary of the status of the Company's restricted stock unit and restricted stock award activity and the changes during the six months ended June 30, 2022 are as follows:
At June 30, 2022, there was approximately $8,471 of total unrecognized compensation cost related to unvested restricted stock units granted under the 2021 Omnibus Plan. That cost is expected to be recognized over a weighted average period of 2.64 years.
The entire disclosure for share-based payment arrangement.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef