XML 51 R38.htm IDEA: XBRL DOCUMENT v3.23.1
Note 6 - Share-based Compensation - Stock Option Activity (Details) - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2022
Dec. 31, 2021
Outstanding, shares (in shares)   4,774,215 4,638,390
Outstanding, weighted average exercise price (in dollars per share)   $ 3.04 $ 2.44
Weighted-average remaining contractual term, outstanding (Year) 5 years 7 months 20 days 5 years 9 months 6 years 1 month 20 days
Aggregate intrinsic value, outstanding $ 13,701,610 $ 13,000 $ 8,413,444
Granted, shares (in shares)   865,825 [1] 870,825
Granted, weighted average exercise price (in dollars per share)   $ 4.43 $ 5.11
Exercised, shares (in shares)   (333,943) [2] (735,000)
Exercised, weighted average exercise price (in dollars per share)   $ 1.63 $ 1.67
Expired, shares (in shares)   (200,000) [3] 0
Expired, weighted average exercise price (in dollars per share)   $ 5.47 $ 0
Canceled, shares (in shares)   (75,000) [4] 0
Canceled, weighted average exercise price (in dollars per share)   $ 4.81 $ 0
Outstanding, shares (in shares) 4,638,390 5,031,097 4,774,215
Outstanding, weighted average exercise price (in dollars per share) $ 2.44 $ 3.25 $ 3.04
Exercisable, shares (in shares)   3,655,280  
Exercisable, weighted average exercise price (in dollars per share)   $ 2.80  
Weighted-average remaining contractual term, exercisable (Year)   4 years 9 months  
Aggregate intrinsic value, exercisable   $ 13,000  
[1] Represents the following stock options granted: • Annual share-based compensation awards on January 3, 2022, including: (a)325,000 stock options with an exercise price of $4.81 per share granted to executives and key personnel, upon one year anniversary, or vesting annually in equal installments over four years, (b) 75,000 performance-based stock option to a key personnel with an exercise price of $4.81 per share, vesting upon the achievement of specified performance conditions, (c) 277,500 stock options with an exercise price of $4.81 per share granted to members of the Board of Directors, vesting upon one year anniversary, (d) 23,325 stock options with an exercise price of $4.81 per share granted to employees, vesting annually in equal installments over four years and (e) 15,000 stock options with an exercise price of $4.81 per share granted to a consultant, vesting upon one year anniversary. • One-time award on June 10, 2022, 150,000 stock options with an exercise price of $2.60 per share granted to the Board of Directors, vesting in one year from the grant date as a result of a reduction in director cash compensation.
[2] Represents the following stock options exercised: • 150,000 stock options exercised at $1.87, 40,000 stock options exercised at $1.63, 8,943 stock options exercised at $1.57, and 50,000 stock options exercised at $1.44, 50,000 stock options exercised at $1.39, and 35,000 stock options exercised at $1.21.
[3] Represents the following stock options expired: 30,000 stock options with exercise price of $6.87, 90,000 stock options with exercise price of $5.27, 80,000 stock option with exercise price of $5.16.
[4] Represents the cancellation of performance-based stock options granted to the Company’s former Managing Director of Business Development and Licensing, who separated from the Company on April 22, 2022.