Common Stock

In March 2017, the Board of Directors approved an increase of 555,555 Series 2 common stock. As a result, the Company’s restated certificate of incorporation, as amended, authorizes the Company to issue 19,333,333 shares of $0.0001 par value common stock, of which 6,000,000 has been designated as Series 1 common stock and 13,333,333 has been designated as Series 2 common stock. The holders of Series 1 common stock shall have no voting rights; the holders of Series 2 common stock shall have the right to one vote for each such share. The holders of common stock are also entitled to receive dividends whenever funds are legally available, as, when, and if declared by the Board of Directors. There have been no dividends declared to date.

The Company has reserved shares of common stock, on an issued and as-converted basis, for future issuance as follows:



	September 30, 2018		December 31, 2017
	Issued and Outstanding Shares	Common Stock Equivalent Shares	Issued and Outstanding Shares	Common Stock Equivalent Shares

Series 1 common stock	3,422,722	3,422,722	3,112,955	3,112,955
Series 2 common stock	490,185	490,185	490,185	490,185
Redeemable convertible preferred stock	11,871,578	12,066,654	11,871,578	12,066,654
Stock options outstanding	2,711,667	2,711,667	3,001,929	3,001,929
Stock options available for grant	10,149	10,149	29,654	29,654
Common stock warrants	124,326	124,326	124,326	124,326
Redeemable convertible preferred stock warrants	156,550	160,657	156,550	160,657
Total	18,787,177	18,986,360	18,787,177	18,986,360