InfuSystem Holdings, Inc. Annual report pursuant to Section 13 and 15(d)

Note 11 - Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

				Weighted
				average
				grant
	Number of			date fair		Aggregate
	shares			value		fair value

Unvested at December 31, 2018		129,583		$	1.42

Granted		26,000			7.04
Vested		(58,314	)		3.17	$	712,969
Vested shares forgone to satisfy minimum statutory withholding		(71,269	)		3.17	$	422,779
Forfeitures		-			-

Unvested at December 31, 2019		26,000			7.04
Granted		156,250			10.12
Vested		(28,432	)		9.28	$	367,273
Vested shares forgone to satisfy minimum statutory withholding		(6,818	)		9.28	$	62,479
Forfeitures		(2,000	)		11.68
Unvested at December 31, 2020		145,000		$	9.78

Weighted

average

grant

Number of

date fair

Aggregate

value

fair value

Unvested at December 31, 2019

Granted

232,500

9.06

Unvested at December 31, 2020

232,500

9.06

	2020		2019
Compensation expense	$	108,589	$	43,030
Shares of stock sold to employees		30,012		33,742
Weighted average fair value per ESPP award	$	7.43	$	3.94

						Weighted-
						Average
	Number			Weighted-		Remaining		Aggregate
	of Authorized			Average Exercise		Contractual		Intrinsic
2014 Plan (Options)	Shares			Price		Term (in Years)		Value
Outstanding at December 31, 2018		2,224,167		$	2.67		3.01	$	-

Granted		670,000		$	3.77		4.40
Exercised		(213,056	)		2.33				624,462
Exercised shares forgone to satisfy minimum statutory withholding		(51,339	)		2.33
Cashless exercise		(184,493	)		2.33
Forfeited		(101,946	)		3.63

Outstanding at December 31, 2019		2,343,333		$	2.99		1.81	$	12,989,767

Exercisable at December 31, 2019		1,501,750		$	2.69

Granted		331,000			10.38		8.59
Exercised		(334,184	)		2.77				3,135,211
Exercised shares forgone to satisfy minimum statutory withholding		(125,714	)		2.77
Cashless exercise		(164,751	)		2.77
Forfeited		(90,336	)		3.96

Outstanding at December 31, 2020		1,959,348		$	4.26		4.42	$	28,449,362

Exercisable at December 31, 2020		1,362,932		$	3.33

						Weighted-
						Average
	Number			Weighted-		Remaining		Aggregate
Inducement	of Authorized			Average Exercise		Contractual		Intrinsic
Options	Shares ( 1 )			Price		Term (in Years)		Value
Outstanding at December 31, 2018		125,000		$	2.55		5.42	$	111,250

Granted		-			-		-		-
Exercised		-			-		-		-
Forfeited		-			-		-		-

Outstanding at December 31, 2019		125,000		$	2.55		4.42	$	747,500

Granted		-			-		-		-
Exercised		(27,940	)		2.55		-		242,519
Exercised shares forgone to satisfy minimum statutory withholding		(12,417	)		2.55		-		-
Cashless exercise		(14,330	)		2.55		-		-
Forfeited		(70,313	)		2.55		-		-

Outstanding at December 31, 2020		-		$	-		-	$	-

Exercisable at December 31, 2020		-		$	-

			Options Outstanding						Options Exercisable
2014 Plan (Options):
Range of Exercise Prices			Number of Shares Outstanding		Weighted-Average Remaining Contractual Life		Weighted-Average Exercise Price		Number of Shares Exercisable		Weighted-Average Exercise Price

$2.01	-	$3.00		870,011		3.20	$	2.26		784,178	$	2.26
$3.01	-	$4.00		423,336		2.74	$	3.23		301,669	$	3.21
$4.01	-	$5.00		335,001		5.60	$	4.70		198,335	$	4.70
$6.01	-	$7.00		50,000		4.21	$	6.82		-	$	-
$8.01	-	$9.00		20,000		9.02	$	8.55		-	$	-
$11.01	-	$12.00		245,000		9.38	$	11.07		78,750	$	11.07
$13.01	-	$14.00		16,000		9.62	$	13.30		-	$	-

Outstanding at December 31, 2020				1,959,348		4.42	$	4.26		1,362,932	$	3.33

Stock Options:	2020			2019
Expected volatility	42%	to	51%	36%	to	38%
Risk free interest rate	0.20%	to	1.56%	1.80%	to	2.36%
Expected lives at date of grant (in years)		3.25			4.63
Weighted average fair value of options granted		$3.87			$1.61

	2020		2019
Restricted share expense	$	1,687	$	190
Stock option and SARs expense		923		807
Total stock-based compensation expense	$	2,610	$	997