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STOCK-BASED COMPENSATION
 6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION

8. STOCK-BASED COMPENSATION

 

Stock-Based Compensation

 

A summary of stock option activity during the six months ended June 30, 2023 is as follows:

  

  

Stock

Options

  

Weighted average

exercise price

  

Weighted

average remaining

contractual term

  

Aggregate

intrinsic value

 
Outstanding as of January 1, 2023   670,667   $5.45           
Granted   77,500    5.52           
Exercised   -    -           
Forfeited   (35,000)   5.60           
Outstanding as of June 30, 2023   713,167   $5.45    5.90   $2,216 
Exercisable as of June 30, 2023   638,167   $5.45    5.50   $1,995 

 

A summary of RSU activity during the six months ended June 30, 2023 is as follows:

   Number of units   Weighted-average grant-date fair value per share  

Weighted-average

grant-date fair value

 
Unvested restricted stock units as of January 1, 2023   250,000   $4.35   $1,087 
Units granted   100,000    5.75    575 
Units vested   (225,000)   4.97    (1,118)
Units forfeited   -                      -    - 
Unvested restricted stock units as of June 30, 2023   125,000   $4.35   $544 

 

Stock-based compensation expense recorded for the three and six months ended June 30, 2023 was approximately $819 and $962, respectively. Stock-based compensation expense recorded for the three and six months ended June 30, 2022 was approximately $659 and $716, respectively. At June 30, 2023, there was $719 of stock-based compensation expense remaining to be recognized in the consolidated statements of operations over a weighted average remaining period of 0.9 years.