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Stockholders' Equity
 12 Months Ended
Dec. 31, 2022
Class of Stock Disclosures [Abstract]  
Stockholders' Equity

Note 14. 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. 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 common stock is reserved for future issuance(1) (in thousands):

 

 

 

As of December 31,

 

 

 

2022

 

 

2021

 

Stock options issued and outstanding

 

 

2,065

 

 

 

2,000

 

Stock awards issued and outstanding

 

 

581

 

 

 

—

 

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

 

 

507

 

 

 

332

 

Authorized for grants under the Inducement Plan(3)

 

 

294

 

 

 

81

 

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

 

 

378

 

 

 

326

 

 

 

 

3,825

 

 

 

2,739

 
(1)
Treasury stock of 541,000 shares as of December 31, 2022 and 2021 are excluded from the table above.
(2)
On January 1, 2022, the number of authorized shares in the 2016 Plan increased by 404,000 shares pursuant to the evergreen provisions of the 2016 Equity Incentive Plan.
(3)
On February 5, 2021, 300,000 shares were authorized pursuant to the terms of the Inducement Plan. 227,300 shares were issued under the Inducement Plan during the year ended December 31, 2022.
(4)
On January 1, 2022, the number of authorized shares in the 2016 Employee Stock Purchase Plan increased by 100,000 shares pursuant to the evergreen provisions of the 2016 Employee Stock Purchase Plan.