XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.23.3

Stock-Based Compensation | 9 Months Ended
--- | ---
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | Note 7 – Stock-Based Compensation In addition to cash compensation, the Company may compensate certain service providers, including employees, directors, consultants, and other advisors, with equity-based compensation in the form of stock options, stock awards and restricted stock awards. The Company recognizes all equity-based compensation as stock-based compensation expense based on the fair value of the compensation measured at the grant date. For stock options, fair value is calculated at the date of grant using the Black-Scholes-Merton option pricing model. For stock awards and restricted stock awards, fair value is the closing stock price for the Company’s common stock on the grant date. The expense is recognized over the vesting period of the grant. For the periods presented, all stock-based compensation expense was classified as a component within selling, general and administrative expense in the Company’s consolidated statements of operations. The amount of stock-based compensation expense is as follows (amounts in thousands): Schedule of Stock-based Compensation Expense
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Stock options |  | $ | 6 |  |  | $ | 19 |  |  | $ | 38 |  |  | $ | 82 |
Stock awards |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 20 |
Total |  | $ | 6 |  |  | $ | 19 |  |  | $ | 38 |  |  | $ | 102 |
Stock-based compensation expense |  | $ | 6 |  |  | $ | 19 |  |  | $ | 38 |  |  | $ | 102 |
During the three and nine months ended September 30, 2023 and 2022, no stock options were awarded. During the three and nine months ended September 30, 2023, no common stock was awarded. During the three months ended September 30, 2022, no common stock was awarded. During the nine months ended September 30, 2022, the Company awarded 1,500 shares of the Company’s common stock at a fair market value price of $13.45 per share to an employee of the Company. The estimated unrecognized compensation cost from unvested awards which will be recognized ratably over the remaining vesting phase is as follows (amounts in thousands): Schedule of Unrecognized Compensation Cost from Unvested Awards
Years ended December 31st: |  | Unvested stock options |  |  | Unvested restricted stock awards |  |  | Total unrecognized compensation expense |
2023 (remaining three months) |  | $ | 5 |  |  | $ | - |  |  | $ | 5 |
2024 |  |  | 11 |  |  |  | - |  |  |  | 11 |
2025 |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 16 |  |  | $ | - |  |  | $ | 16 |
Where Food Comes From, Inc. Notes to the Consolidated Financial Statements (Unaudited) Equity Incentive Plans Our 2006 Equity Incentive Plan (the “2006 Plan”) and 2016 Equity Incentive Plan (the “2016 Plan,” and together with the 2006 Plan, the “Plans”) provide for the issuance of stock-based awards to employees, officers, directors and consultants. The Plans permit the granting of stock awards and stock options. The vesting of stock-based awards is generally subject to the passage of time and continued employment through the vesting period. Stock Option Activity Stock option activity under our Equity Incentive Plans is summarized as follows: Schedule of Stock Option Activity
|  |  |  |  | Weighted avg. |  |  | Weighted avg. |  |  | Weighted avg. remaining |  |  |  |
|  | Number of awards |  |  | exercise price per share |  |  | grant date fair value per share |  |  | contractual life (in years) |  |  | Aggregate intrinsic value |
Outstanding, December 31, 2022 |  |  | 92,347 |  |  | $ | 8.67 |  |  | $ | 7.77 |  |  |  | 5.31 |  |  | $ | 502,688 |
Granted |  |  | - |  |  | $ | - |  |  | $ | - |  |  |  | - |  |  |  |  |
Exercised |  |  | (10,229 | ) |  | $ | 4.80 |  |  | $ | 4.97 |  |  |  | - |  |  |  |  |
Expired/Forfeited |  |  | (6,250 | ) |  | $ | 10.20 |  |  | $ | 10.06 |  |  |  | - |  |  |  |  |
Outstanding, September 30, 2023 |  |  | 75,868 |  |  | $ | 9.07 |  |  | $ | 7.96 |  |  |  | 5.21 |  |  | $ | 392,923 |
Exercisable, September 30, 2023 |  |  | 70,195 |  |  | $ | 8.61 |  |  | $ | 7.72 |  |  |  | 5.00 |  |  | $ | 390,597 |
Unvested, September 30, 2023 |  |  | 5,673 |  |  | $ | 13.57 |  |  | $ | 10.90 |  |  |  | 7.75 |  |  | $ | 2,326 |
The aggregate intrinsic value represents the total pre-tax intrinsic value (the aggregate difference between the closing price of our common stock on September 30, 2023 and the exercise price for the in-the-money options) that would have been received by the option holders if all the in-the-money options had been exercised on September 30, 2023. Stock Activity There has not been any non-vested stock award activity under our Equity Incentive Plans for the three and nine months ended September 30, 2023 and 2022.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration