Stockholders' Equity |
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| Stockholders' Equity |
Note 5 — Stockholders’ Equity Equity Incentive Plan The Company has in effect the Amended 2015 Equity Incentive Plan (“2015 Incentive Plan” or “Plan”). The 2015 Incentive Plan was adopted in December 2015 by the stockholders and an amendment to the Plan to increase the number of authorized shares issuable to 4,000,000 shares was approved by the stockholders in December 2021. Under the 2015 Incentive Plan, the compensation committee of the Company’s board of directors is authorized to grant stock-based awards to directors, officers, employees and consultants. The Plan authorizes grants to issue up to 4,000,000 shares of authorized but unissued common stock and expires 10 years from adoption and limits the term of each option to no more than 10 years from the date of grant. As of March 31, 2022, there are 1,837,336 shares available to be issued under the Plan. Restricted Stock Units and Restricted Stock Awards The following table summarizes restricted stock unit and award activity for the three months ended March 31, 2022:
For the three months ended March 31, 2022 and 2021, stock-based compensation expenses associated with the amortization of restricted stock units and restricted stock awards for employees and non-employees were approximately $0.6 million and $0.1 million, respectively. At March 31, 2022, the Company had unrecognized stock-based compensation expense related to restricted stock units and restricted stock awards of $0.2 million, which is expected to be recognized over the remaining weighted-average vesting period of 2.1 years. This amount does not include, as of March 31, 2022, 50,000 shares of restricted stock outstanding which are performance-based and vest upon achievement of certain corporate milestones. The expense is recognized over the vesting period of the award. Stock-based compensation for milestone awards will be measured and recorded if and when it is probable that the milestone will be achieved. Stock Warrants There was no warrant activity for the three months ended March 31, 2022. |
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