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Share-Based Compensation | 3 Months Ended
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Mar. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Share-Based Compensation | Note 10 – Share-Based Compensation The Company’s share-based compensation awards are issued under the 2020 Equity Incentive Plan (2020 Plan), the predecessor 2016 Equity Incentive Plan (2016 Plan) and 2006 Equity Incentive Plan (2006 Plan). Any awards that expire or are forfeited under the 2016 Plan or 2006 Plan become available for issuance under the 2020 Plan. As of March 31, 2023, 10,597 shares of com mon stock remained available for future issuance under the 2020 Plan. Share-Based Compensation Expense Share-based compensation expense reported in the Company’s condensed statements of operations was (in thousands):
|  | Three Months Ended March 31, |
|  | 2023 |  |  | 2022 |
Direct costs and expenses |  | $ | 17 |  |  | $ | 15 |
Research and development |  |  | 107 |  |  |  | 88 |
Sales, marketing, general and administrative |  |  | 2,157 |  |  |  | 1,243 |
Total |  | $ | 2,281 |  |  | $ | 1,346 |
The unrecognized remaining share-based compensation expense for options and RSUs w as approximately $8.8 million as of March 31, 2023 and is expected to be amortized to expense over the next 3.1 years. Stock Options Stock option activity during the three months ended March 31, 2023, excluding the Bonus Option Program described below, was (in thousands, except weighted average exercise price and weighted average contractual life):
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Contractual Life (Years) |  |  | Aggregate Intrinsic Value |
Outstanding - January 1, 2023 |  |  | 2,541 |  |  | $ | 8.40 |  |  |  | 7.4 |  |  | $ | 1,489 |
Granted |  |  | 344 |  |  |  | 1.97 |  |  |  | — |  |  |  | — |
Forfeited/canceled |  |  | (72 | ) |  |  | 7.38 |  |  |  | — |  |  |  | — |
Exercised |  |  | (9 | ) |  |  | 0.73 |  |  |  | — |  |  |  | — |
Outstanding ‑ March 31, 2023 |  |  | 2,804 |  |  | $ | 7.66 |  |  |  | 7.5 |  |  | $ | 1,007 |
Exercisable ‑ March 31, 2023 |  |  | 1,617 |  |  | $ | 7.43 |  |  |  | 6.7 |  |  | $ | 805 |
Restricted Stock Unit Activity Restricted stock unit activity during the three months ended March 31, 2023 was (in thousands, except weighted average grant date fair value per share):
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value Per Share |
Outstanding ‑ January 1, 2023 |  |  | 1,211 |  |  | $ | 2.36 |
Granted |  |  | 2,217 |  |  |  | 2.00 |
Forfeited/canceled |  |  | (37 | ) |  |  | 3.69 |
Released |  |  | (86 | ) |  |  | 3.69 |
Outstanding ‑ March 31, 2023 |  |  | 3,305 |  |  | $ | 2.07 |
Bonus-to-Options Program As part of the Bonus-to-Options Program (Bonus Option Program), the Company recorded the following activity during the three months ended March 31, 2023 (in thousands, excepted weighted average exercise price and weighted average contractual life):
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Contractual Life (Years) |  |  | Aggregate Intrinsic Value |
Outstanding ‑ January 1, 2023 |  |  | 526 |  |  | $ | 10.69 |  |  |  | 7.6 |  |  | $ | 2 |
Granted |  |  | 876 |  |  |  | 2.00 |  |  |  | — |  |  |  | — |
Forfeited/canceled |  |  | (2 | ) |  |  | 3.44 |  |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Outstanding ‑ March 31, 2023 |  |  | 1,400 |  |  | $ | 5.26 |  |  |  | 9.0 |  |  | $ | — |
Exercisable ‑ March 31, 2023 |  |  | 1,400 |  |  | $ | 5.26 |  |  |  | 9.0 |  |  | $ | — |
The Company accrued $0.2 million and $0.3 million for the three months ended March 31, 2023 and 2022, respectively, related to the estimate of the Bonus Option Program. Options granted, if any, pertaining to the performance of the Bonus Option Program are typically approved and granted in first quarter of the year following completion of the fiscal year. Employee Stock Purchase Plan The ESPP provides for successive six-month offering perio ds beginning on September 1st and March 1st of each year. During the three months ended March 31, 2023, 269,846 shares were issued under the ESPP leaving 476,301 shares reserved for f uture issuance.

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