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STOCKHOLDERS' EQUITY | 9 Months Ended
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Sep. 30, 2021
STOCKHOLDERS' EQUITY |
STOCKHOLDERS' EQUITY | NOTE 5 STOCKHOLDERS’ EQUITY Preferred Stock Our amended and restated certificate of incorporation authorizes the issuance of up to 10,000,000 shares of preferred stock, $0.001 par value, with rights senior to those of our common stock, issuable in one or more series. Upon issuance, we can determine the rights, preferences, privileges and restrictions thereof. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms and the number of shares constituting any series or the designation of such series, any or all of which may be greater than the rights of common stock. Common Stock Our amended and restated certificate of incorporation authorizes the issuance of up to 175,000,000 shares of $0.001 par value common stock. On September 5, 2019, we filed an automatic “shelf registration” statement on Form S-3 (the 2019 WKSI Shelf) as a “well-known seasoned issuer” as defined in Rule 405 under the Securities Act, which registered an unlimited and indeterminate amount of debt or equity securities for future issuance and sale. The 2019 WKSI Shelf was declared effective in September 2019. In connection with the 2019 WKSI Shelf, we entered into an At-the-Market Issuance Sales Agreement (the 2020 ATM) with Jefferies LLC, Cantor Fitzgerald & Co. and B. Riley Securities, Inc. (each a 2020 Agent and collectively, the 2020 Agents), relating to the sale of shares of our common stock. Under the 2020 ATM, we paid the 2020 Agents a commission rate of up to 3.0% of the gross proceeds from the sale of any shares of common stock. In November 2020, we entered into an At-the-Market Issuance Sales Agreement (the 2021 ATM) with the same terms and agents (each a 2021 Agent and collectively, the 2021 Agents) as the 2020 ATM. The 2021 ATM has replaced the 2020 ATM as the only active ATM program. We had no activity on the 2021 ATM during the nine months ended September 30, 2021. The 2019 WKSI Shelf is currently our only active shelf-registration statement. We may offer any combination of the securities registered under the 2019 WKSI Shelf from time to time in response to market conditions or other circumstances if we believe such a plan of financing is in the best interests of our stockholders. We believe that the 2019 WKSI Shelf provides us with the flexibility to raise additional capital to finance our operations as needed. Equity Incentive Plans The TG Therapeutics, Inc. Amended and Restated 2012 Incentive Plan (the 2012 Incentive Plan) was approved by stockholders in June 2020. As of September 30, 2021, 11,992,744 shares of restricted stock and 2,467,537 options were outstanding and up to an additional 1,746,700 shares may be issued under the 2012 Incentive Plan. Stock-based compensation expense included in the condensed consolidated statements of operations was $14.0 million and $28.3 million for the three months ended September 30, 2021 and 2020, respectively, and $46.9 million and $46.8 million for the nine months ended September 30, 2021 and 2020, respectively. ​ The following table summarizes the activity for stock options and restricted stock for the nine months ended September 30, 2021:
​ | ​ | ​ | ​ | ​ | ​
(in thousands) | ​ | Stock Options | ​ | Restricted Stock
Equity awards outstanding, beginning of year | ​ | 2,526 | ​ | ​ | 10,785
Changes during the year: | ​ | ​ | ​ | ​ | ​
Granted | ​ | — | ​ | ​ | 2,464
Exercised or vested | ​ | (53) | ​ | ​ | (1,106)
Expired or Forfeited | ​ | (6) | ​ | ​ | (150)
Equity awards outstanding, end of period | ​ | 2,467 | ​ | ​ | 11,993
​ As of September 30, 2021, total compensation cost related to unvested awards not yet recognized and the weighted-average periods over which the awards are expected to be recognized were as follows: ​
​ | ​ | ​ | ​ | ​ | ​
(in thousands) | ​ | Stock Options | ​ | Restricted Stock
Unrecognized compensation cost | $ | 523 | ​ | $ | 66,962
Expected weighted-average period in years of compensation cost to be recognized | ​ | 1.0 | ​ | ​ | 1.0
​ Warrants The Company’s only outstanding warrant is the warrant issued to Hercules as part of our debt agreement to purchase 147,058 shares of common stock with an exercise price of $4.08. See Note 6 for further details. As the warrants could not require cash settlement, the warrants were classified as equity. There will not be any ongoing stock compensation expense volatility associated with these warrants.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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