|3 Months Ended|
Mar. 31, 2021
|Share-based Payment Arrangement [Abstract]|
NOTE 12: STOCK-BASED COMPENSATION
On June 24, 2020, the Whole Earth Brands, Inc. 2020 Long-Term Incentive Plan (the “Plan”) was approved for the purpose of promoting the long-term financial interests and growth of the Company and its subsidiaries by attracting and retaining management and other personnel and key service providers. The Plan provides for the granting of stock options (“SOs”), stock appreciation rights (“SARs”), restricted stock awards (“RSAs”), restricted stock units (“RSUs”), performance shares, performance share units (“PSUs”) and other stock-based awards to officers, employees and non-employee directors of, and certain other service providers to, the Company and its subsidiaries. These awards are settled in shares of the Company’s stock and therefore classified as equity awards. Under the terms of the Plan an aggregate of 9,300,000 shares of common stock are authorized for issuance under the Plan.
In the first quarter of 2021, the Company granted RSUs under the Plan which vest ratably on the anniversary of the grant date over a period of to three years, depending on the specific terms of each RSU agreement.
Stock-based compensation expense for the three months ended March 31, 2021 was $1.6 million.
A summary of activity and weighted average fair values related to the RSUs is as follows:
A summary of activity and weighted average fair values related to the RSAs is as follows:
As of March 31, 2021, the Company had not yet recognized compensation costs on nonvested awards as follows (in thousands):
The entire disclosure for share-based payment arrangement.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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