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SHARE BASED COMPENSATION
9 Months Ended
Sep. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share Based Compensation
SHARE BASED COMPENSATION

We have one active equity plan, the 2018 Incentive Award Plan (the “2018 Plan”). The 2018 Plan, approved by our shareholders, replaced our 2009 Equity Incentive Plan, as amended (the “2009 Plan”), however, the terms and conditions of the 2009 Plan continues to govern any outstanding awards previously granted under the 2009 Plan.
 
The number of shares available for issuance under the 2018 Plan is equal to the sum of (i) 1,350,000 shares, and (ii) any shares subject to issued and outstanding awards under the 2009 Plan as of the effective date of the 2018 Plan that expire, are canceled or otherwise terminate following the effective date of the 2018 Plan. We have outstanding options to purchase 2,063,154 shares at a weighted exercise price of $9.11, of which options to purchase 600,500 shares at an exercise price of $6.39, exercisable over a three year period,  were granted in the three months ended September 30,2019. As of September 30, 2019, we had 156,153 shares available for grant pursuant to the 2018 Plan. In May 2019, our shareholders approved a one-time program to exchange underwater options to purchase shares of our common stock held by eligible employees for a lesser number of restricted stock units under the 2018 Plan. We have twelve months from May 2019 to implement this one-time program.

Share based compensation for our stock option plans for the three months ended September 30, 2019 and September 30, 2018 was $577 and $363, respectively, and $1,535 and $887 for the nine months ended September 30, 2019 and 2018, respectively. We issued 5,000 shares and 2,000 shares of common stock related to exercises of stock options for the three months ended September 30, 2019 and September 30, 2018, respectively. We issued 30,000 and no shares of common stock related to the issuance of vested restricted stock units for the three months ended September 30, 2019 and 2018, respectively.