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Stockholders' Equity
 9 Months Ended
Sep. 30, 2021
Class of Stock Disclosures [Abstract]  
Stockholders' Equity

Note 13. Stockholders’ Equity

 

In August 2016, the Company's Board adopted the 2016 Equity Inventive Plan (the 2016 Plan) for employees, directors and consultants. In February 2021, the Board adopted the 2021 Employment Inducement Incentive Award Plan (Inducement Plan), which provides for grants of equity-based awards, of which 300,000 shares were initially reserved under the Inducement Plan. In connection with the NimbeLink acquisition, the Company assumed the NimbeLink Corp 2016 Stock Incentive Plan and stock options to purchase 22,871 shares of common stock issuable thereunder.

 

The following table presents common stock reserved for future issuance(1) (in thousands):

 

 

September 30,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Warrants issued and outstanding

 

 

—

 

 

 

51

 

Stock option awards issued and outstanding

 

 

1,953

 

 

 

1,760

 

Authorized for grants under the 2016 Equity Incentive Plan(2)

 

 

372

 

 

 

357

 

Authorized for grants under the Inducement Plan(3)

 

 

116

 

 

 

—

 

Authorized for grants under the 2016 Employee Stock Purchase Plan(4)

 

 

326

 

 

 

256

 

 

 

 

2,767

 

 

 

2,424

 

 

(1) The table above excludes 541,000 and 534,000 treasury shares as of September 30, 2021 and December 31, 2020, respectively.

(2) On January 1, 2021, the number of authorized shares in the 2016 Plan increased by 391,000 shares pursuant to the evergreen provisions of the 2016 Plan.

(3) On February 5, 2021, 300,000 shares were authorized pursuant to the terms of the Inducement Plan; 187,700 shares were issued under the Inducement Plan during the nine months ended September 30, 2021

(4) On January 1, 2021, the number of authorized shares in the 2016 Employee Stock Purchase Plan increased by 98,000 shares pursuant to the evergreen provisions of the 2016 Employee Stock Purchase Plan.