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Stockholders' Equity
6 Months Ended
Jun. 30, 2018
Disclosure Text Block [Abstract]  
Stockholders' Equity

On June 30, 2017, the Company’s stockholders approved the RumbleOn Inc. Stock Incentive Plan (the “Plan”) under which restricted stock units (“RSUs”) and other equity awards may be granted to employees and non-employee members of the Board of Directors. The purposes of the Plan are to attract, retain, reward and motivate talented, motivated and loyal employees and other service providers (“Eligible Individuals”) by providing them with an opportunity to acquire or increase a proprietary interest in the Company and to incentivize them to expend maximum effort for the growth and success of the Company, so as to strengthen the mutuality of the interests between such persons and the stockholders of the Company. The Plan allows the Company to grant a variety of stock-based and cash-based awards to Eligible Individuals. On June 25, 2018, the Company’s stockholders approved an amendment to the Plan to increase the number of shares of Class B Common Stock authorized for issuance under the Plan from twelve percent (12%) of all issued and outstanding Class B Common Stock from time to time to 2,000,000 shares of Class B Common Stock. The Company estimates the fair value of awards granted under the Plan on the date of grant. The fair value of an RSU is based on the average of the high and low market prices of the Company’s Class B Common Stock on the date of grant. As of June 30, 2018, the Company has granted 1,202,000 RSUs under the Plan to certain directors, officers and employees of the Company. The aggregate fair value of the RSUs, net of expected forfeitures was $4,968,720 as of June 30, 2018. The RSUs generally vest over a three-year period as follows: (i) 20% on the first anniversary of the grant date; (ii) 30% on the second anniversary of the grant date; and (iii) 50% on the third anniversary of the grant date. The fair value of the grant is amortized over the period from the grant date through the vesting dates. Forfeitures are based on the historic employee behavior under similar stock-based compensation plans. Compensation expense recognized for these grants for the three-month and six-month periods ended June 30, 2018 is $349,388 and $676,095, respectively. As of June 30, 2018, the Company has approximately $3,789,603 in unrecognized stock-based compensation, with an average remaining vesting period of 2.75 years. Compensation expense recognized for the grants for the three-month and six-month periods ended June 30, 2017 was $129,787.