Quarterly report [Sections 13 or 15(d)]

Stock-based Compensation

v3.25.1
Stock-based Compensation
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation

Note 10 – Stock-based Compensation

 

The Company’s Amended and Restated 2013 Equity Compensation Plan (the “Plan”), which expired on May 7, 2024, provided for the granting of incentive stock options, nonqualified stock options, restricted stock units, performance units, and stock purchase rights. There were no significant modifications to the Plan during the three month periods ended March 31, 2024. The term of the Plan was for 10 years. The Company intends to adopt a new equity compensation plan at its 2025 Annual Meeting, pending shareholder approval.

 

As of March 31, 2025, there were 577,104 awards, including both restricted stock grants and option grants, issued and exercised under the Plan and no remaining shares available for grant under the Plan.

 

The Company recognized stock-based compensation expense (options and restricted share grants) in its condensed consolidated statements of operations as follows:

 

    Three Months Ended March 31,  
    2025     2024  
Research and Development   $ 85     $ 415  
General and Administrative     230       580  
Total   $ 315     $ 995  

 

As of March 31, 2025, total compensation costs related to unvested awards not yet recognized was $1,385 and the weighted-average periods over which the awards are expected to be recognized was 1.9 years.

 

Stock Options

 

The following table summarizes the activity for Company’ stock options for the three months ended March 31, 2025:

 

    Stock Options  
Outstanding at December 31, 2024     687,356  
Granted      
Exercised      
Forfeited     (3,101 )
Expired     (200,766 )
Outstanding at March 31, 2025     483,489