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Stock-Based Compensation | 6 Months Ended
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Jun. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation We maintain a stock-based compensation program intended to attract, retain and provide incentives for talented employees and directors and align stockholder and employee interests. During the 2022 and 2021 periods, we granted restricted stock units ("RSUs") from the 2017 Equity Compensation Plan, as amended (“2017 ECP”). RSU vesting periods are generally up to three years and/or achieving certain financial targets. On January 1, 2022, in accordance with the plan provisions, the number of shares available for issuance under the 2017 ECP was increased by 150,000 shares. On June 16, 2022, our stockholders approved an amendment to the 2017 ECP increasing the number of shares of our common stock reserved for issuance by 15,000,000 shares. As of June 30, 2022, the total number of shares of our common stock reserved for issuance under the 2017 ECP was 24,550,000. Compensation Expense For the three and six months ended June 30, 2022, we recorded stock-based compensation expense for all equity incentive plans of $684,376 and $1,355,534, respectively. For the three and six months ended June 30, 2021, we recorded stock-based compensation expense for all equity incentive plans of $557,602 and $952,472, respectively. Total compensation cost not yet recognized at June 30, 2022 was $3,176,577, which will be recognized over a weighted-average recognition period of approximately three years. The following table summarizes the stock grants outstanding under the 2017 ECP and the 2010 Equity Compensation Plan (“2010 ECP”) for the three months ended June 30, 2022:
| Options Outstanding |  | RSUs Outstanding |  | Options and RSUs Exercised |  | Available Shares |  | Total Awards Authorized
2017 ECP | — |  |  | 5,133,340 |  |  | 4,160,798 |  |  | 15,255,862 |  |  | 24,550,000 |
2010 ECP (*) | 1,500 |  |  | — |  |  | 5,011,511 |  |  | — |  |  | 5,013,011 |
Total | 1,500 |  |  | 5,133,340 |  |  | 9,172,309 |  |  | 15,255,862 |  |  | 29,563,011 |
(*) Expired April 2020 The following table summarizes the activity of stock option awards under the 2010 ECP for the six months ended June 30, 2022:
| Shares Subject to Options Outstanding |
| Number of Shares |  | Weighted Average Exercise Price |  |
Outstanding, beginning of period | 1,500 |  |  | $ | 0.56 |  |  |
Stock options exercised | — |  |  | $ | — |  |  |
Stock options canceled | — |  |  | $ | — |  |  |
Outstanding, end of period | 1,500 |  |  | 0.56 |  |  |
Exercisable, end of period | 1,500 |  |  | 0.56 |  |  |
The following table summarizes the activities for our unvested RSUs for the six months ended June 30, 2022:
| Unvested RSUs
| Number of Shares |  | Weighted Average Grant Date Fair Value
Outstanding, beginning of period | 3,960,001 |  |  | $ | 1.33 |
Granted | 2,750,000 |  |  | $ | 0.40 |
Vested | (1,426,660) |  |  | $ | 1.34 |
Canceled | (150,001) |  |  | $ | 1.03 |
Outstanding, end of period | 5,133,340 |  |  | $ | 0.84 |

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