Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation (Tables)

v3.22.1
Stock Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Significant Inputs Used in Valuation of RSU The fair value of these RSUs is estimated through the use of a lattice model. Significant inputs used in our valuation of these RSUs included the following:
 
Three months ended
  
March 31,
 
(in ‘000 USD)
  
2022
 
Expected volatility
     
57.1%-75.2%
  
Risk-free interest rate
     
1.37%-2.09%
  
Summary of Company's Stock Options
The following is a summary of the pre-combination KORE’s stock options as of March 31, 2021, and the stock option activity from December 31, 2020 through March 31, 2021:

 
  
Number of
Options
 
  
Weighted
Average Grant
Date Fair Value
per Option
(Amount)
 
  
Weighted
Average
Exercise Price
(Amount)
 
  
Weighted Average
Remaining
Contractual Term
(Years)
 
Balance, December 31, 2020
   
 
432,500
 
   
$
15.45
 
   
$
141.53
 
   
 
7.7
 
Granted
      —          —          —          —    
Exercised
      —          —          —          —    
Forfeited
      —          —          —          —    
Expired
      —          —          —          —    
    
 
 
     
 
 
     
 
 
     
 
 
  
Balance, March 31, 2021
   
 
432,500
 
   
$
15.45
 
   
$
141.53
 
   
 
7.7
 
    
 
 
     
 
 
     
 
 
     
 
 
  
Summary Of Share-based Payment Arrangement, Restricted Stock Unit, Activity
The following table summarizes RSU activity during the reporting periods shown below:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(in 000’ USD, except shares)

   
Number of
Awards
outstanding
     
Weighted-
Average
grant date
fair value
(per share)
     
Aggregate
Intrinsic

Value

(in Thousands)
  
Unvested RSUs at December 31, 2021
      —        $ —          —    
Granted
      4,763        6.84        32,587  
Vested
      —          —          —    
Forfeited and canceled
      (35 )       6.97        (245 ) 
    
 
 
              
 
 
  
Unvested RSUs at March 31, 2022
   
 
4,728
 
   
$
 
 
   
$
32,342
 
    
 
 
              
 
 
  
Equity Option [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Share-based Compensation Expense
The following is a summary of the Company’s share-based compensation expense related to stock options during the reporting periods shown below
:
 
 
  
For the three months ended
 
 
  
March 31,
 
(in ‘000 USD)
  
2022
 
  
2021
 
 
 
 
 
 
 
 
 
 
Total Stock Compensation Expense
    $ —        $ 315  
Unrecognized Compensation Cost
      —          3,100  
Weighted-average remaining recognition period (in years)
      —          2.4  
Restricted Stock Units (RSUs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Share-based Compensation Expense
The following is a summary of the Company’s share-based compensation expense related to RSUs during the reporting periods shown below
:
 
 
  
For the three months ended
 
 
  
March 31,
 
(in ‘000 USD)
  
2022
 
  
2021
 
 
 
 
 
 
 
 
 
 
Total Stock Compensation Expense
    $ 2,050      $ —    
Unrecognized Compensation Cost
      30,292        —    
Weighted-average remaining recognition period (in years)
      3.53        —