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Stockholders' Equity
 12 Months Ended
Dec. 31, 2023
Class of Stock Disclosures [Abstract]  
Stockholders' Equity

Note 12. 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.

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

 

 

As of December 31,

 

 

 

2023

 

 

2022

 

Stock options issued and outstanding

 

 

2,104

 

 

 

2,065

 

Stock awards issued and outstanding

 

 

817

 

 

 

581

 

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

 

 

448

 

 

 

507

 

Authorized for grants under the Inducement Plan(3)

 

 

174

 

 

 

294

 

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

 

 

540

 

 

 

378

 

 

 

 

4,083

 

 

 

3,825

 
(1)
Treasury stock of 541,000 shares as of December 31, 2023 and 2022 are excluded from the table above.
(2)
On January 1 ,2023, the number of authorized shares in the 2016 Plan increased by 431,000 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. 188,000 shares were issued under the Inducement Plan during the year ended December 31, 2023.
(4)
On January 1, 2023, 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.