Shareholders' Equity |
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| Shareholders' Equity |
13.Shareholders’ Equity LP Units of JJ LP The limited partnership units (“LP Units”) of Jimmy Jang, L.P. (“JJ LP”), a subsidiary of TILT, are exchangeable for one Common Share at any time per request of the owner of the LP Units and are not saleable or transferable without the Company’s authorization. During the three and six months ended June 30, 2022 and 2021, there were no LP Units of JJ LP converted to Common Shares. As of June 30, 2022 and December 31, 2021, 43,821,379 LP Units of JJ LP were issued and outstanding, respectively. Warrants The Company did not issue any warrants during the three and six months ended June 30, 2022 and 2021. The following table summarizes the warrants that remain outstanding as of June 30, 2022:
A rollforward of warrant activity for the six months ended June 30, 2022 is as follows:
Share-based Compensation Under the Amended and Restated 2018 Stock and Incentive Plan (the “Plan”), the Company has reserved 60,000,000 Common Shares to be issued as awards to employees, management, directors and consultants of the Company, as designated by the Company’s board of directors (the “Board”) or a committee of the Board. “Award” is defined in the Plan to include options, stock appreciation rights, restricted stocks, restricted stock units, performance stock units, dividend equivalents and stock-based awards. Restricted Stock Units (“RSUs”) A summary of the status of the RSUs outstanding is as follows:
The Company did not issue any RSUs for the three and six months ended June 30, 2021. During the three months ended June 30, 2022 and 2021, the Company recorded $163 and $195 of net share-based compensation relating to RSUs, respectively. During the six months ended June 30, 2022 and 2021, the Company recorded $425 and $451 of net share-based compensation relating to RSUs, respectively.
The Company recorded additional share-based compensation expense of $260 and $0 for the three months ended June 30, 2022 and 2021, respectively, and $518 and $0 for the six months ended June 30, 2022 and 2021, respectively, relating to the contingent consideration for milestone payments relating to projects of its joint venture in CGSF. Share Options A summary of the status of the share options outstanding is as follows:
For the three months ended June 30, 2022 and 2021, the Company recorded $18 and $480, respectively, of net share-based compensation related to these options. For the six months ended June 30, 2022 and 2021, the Company recorded $98 and $1,106, respectively, of net share-based compensation related to these options. The following table summarizes the share options that remain outstanding as of June 30, 2022:
Performance Stock Units (“PSUs”) A summary of the status of the PSUs outstanding is as follows:
The Company did not grant PSUs for the three and six months ended June 30, 2022 and 2021, respectively. During the three months ended June 30, 2022 and 2021, the Company recorded $345 and $0 of net share-based compensation relating to PSUs, respectively. During the six months ended June 30, 2022 and 2021, the Company recorded $971 and $0 of net share-based compensation relating to PSUs, respectively. A summary of the PSU awards granted containing market conditions is as follows:
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