Employee Stock Compensation Plans	3 Months Ended
Mar. 31, 2024
Employee Stock Compensation Plans
Employee Stock Compensation Plans	9. Employee Stock Compensation Plans During the three months ended March 31, 2024 and 2023, Solitario recorded stock-based compensation expense of $59,000 and $67,000, respectively included in general and administrative expense. At March 31, 2024, the total unrecognized stock option compensation cost related to non-vested options is $327,000 and is expected to be recognized over a weighted average period of 17 months. 2013 Plan: On June 18, 2013, Solitario’s shareholders approved the 2013 Solitario Exploration & Royalty Corp. Omnibus Stock and Incentive Plan, as amended (the “2013 Plan”), which expired in April 2023. Under the terms of the 2013 Plan, a total of 5,750,000 shares of Solitario common stock were reserved for awards to directors, officers, employees and consultants. The 2013 Plan permitted the Board of Directors of the Company (the “Board of Directors”) or a committee appointed by the Board of Directors to grant awards in the form of stock options, stock appreciation rights, restricted stock, and restricted stock units. As of March 31, 2024, the 2013 Plan has expired and no additional awards may be granted under the 2013 Plan, although awards made prior to the 2013 Plan’s expiration will remain outstanding in accordance with their terms. As of March 31, 2024 and December 31, 2023, there were 3,728,500 and 3,778,500 options outstanding under the 2013 Plan. Of these, as of March 31, 2024 and December 31, 2023, there were options that are vested and exercisable to acquire 2,513,500 and 2,563,500, respectively, shares of Solitario common stock, with exercise prices between $0.20 and $0.60 per share. As of March 31, 2024, the outstanding stock options under the 2013 Plan have an intrinsic value of $491,000 and a weighted average life of 2.59 years. During the three months ended March 31, 2024, options granted under the 2023 Plan for 50,000 shares were exercised for proceeds of $14,000. No options were exercised from the 2013 Plan during the three months ended March 31, 2023. 2023 Plan: On June 20, 2023, Solitario’s shareholders approved the 2023 Solitario Stock and Incentive Plan (the “2023 Plan”). Under the terms of the 2023 Plan, a total of 5,000,000 shares of Solitario common stock are reserved for awards to directors, officers, employees and consultants. Awards may take the form of stock options, stock appreciation rights, restricted stock and restricted stock units. The terms and conditions of the awards are pursuant to the 2023 Plan and are granted by the Board of Directors or a committee appointed by the Board of Directors. The 2023 Plan has a term of 10 years. No awards were granted under the 2023 Plan during the three months ended March 31, 2024. As of March 31, 2024 and December 31, 2023, there were 50,000 options outstanding under the 2023 Plan of which there are options that are vested and exercisable to acquire 12,500, shares of Solitario common stock, with an exercise price of $0.51 per share. As of March 31, 2024, the outstanding stock options under the 2023 Plan have an intrinsic value of $4,500 and a weighted average life of 4.9 years. During the three months ended March 31, 2024, Solitario did not grant any options under the 2023 Plan and no options were exercised under the 2023 Plan.

Employee Stock Compensation Plans

3 Months Ended

Mar. 31, 2024

9. Employee Stock Compensation Plans

During the three months ended March 31, 2024 and 2023, Solitario recorded stock-based compensation expense of $59,000 and $67,000, respectively included in general and administrative expense. At March 31, 2024, the total unrecognized stock option compensation cost related to non-vested options is $327,000 and is expected to be recognized over a weighted average period of 17 months.

2013 Plan:

On June 18, 2013, Solitario’s shareholders approved the 2013 Solitario Exploration & Royalty Corp. Omnibus Stock and Incentive Plan, as amended (the “2013 Plan”), which expired in April 2023. Under the terms of the 2013 Plan, a total of 5,750,000 shares of Solitario common stock were reserved for awards to directors, officers, employees and consultants. The 2013 Plan permitted the Board of Directors of the Company (the “Board of Directors”) or a committee appointed by the Board of Directors to grant awards in the form of stock options, stock appreciation rights, restricted stock, and restricted stock units. As of March 31, 2024, the 2013 Plan has expired and no additional awards may be granted under the 2013 Plan, although awards made prior to the 2013 Plan’s expiration will remain outstanding in accordance with their terms.

As of March 31, 2024 and December 31, 2023, there were 3,728,500 and 3,778,500 options outstanding under the 2013 Plan. Of these, as of March 31, 2024 and December 31, 2023, there were options that are vested and exercisable to acquire 2,513,500 and 2,563,500, respectively, shares of Solitario common stock, with exercise prices between $0.20 and $0.60 per share. As of March 31, 2024, the outstanding stock options under the 2013 Plan have an intrinsic value of $491,000 and a weighted average life of 2.59 years. During the three months ended March 31, 2024, options granted under the 2023 Plan for 50,000 shares were exercised for proceeds of $14,000. No options were exercised from the 2013 Plan during the three months ended March 31, 2023.

2023 Plan:

On June 20, 2023, Solitario’s shareholders approved the 2023 Solitario Stock and Incentive Plan (the “2023 Plan”). Under the terms of the 2023 Plan, a total of 5,000,000 shares of Solitario common stock are reserved for awards to directors, officers, employees and consultants. Awards may take the form of stock options, stock appreciation rights, restricted stock and restricted stock units. The terms and conditions of the awards are pursuant to the 2023 Plan and are granted by the Board of Directors or a committee appointed by the Board of Directors. The 2023 Plan has a term of 10 years. No awards were granted under the 2023 Plan during the three months ended March 31, 2024.

As of March 31, 2024 and December 31, 2023, there were 50,000 options outstanding under the 2023 Plan of which there are options that are vested and exercisable to acquire 12,500, shares of Solitario common stock, with an exercise price of $0.51 per share. As of March 31, 2024, the outstanding stock options under the 2023 Plan have an intrinsic value of $4,500 and a weighted average life of 4.9 years.

During the three months ended March 31, 2024, Solitario did not grant any options under the 2023 Plan and no options were exercised under the 2023 Plan.