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Stock-based Compensation | 3 Months Ended
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Mar. 31, 2021
Stock-based Compensation [Abstract] |
Stock-based Compensation | Note 11 Stock-based Compensation: As of March 31, 2021, the Company had options to purchase 6,925,478 shares of common stock outstanding with a weighted-average exercise price of $1.83. As of March 31, 2021, options to purchase 4,243,387 shares are vested and exercisable. There are 41,774 shares remaining available for issuance in the form of future equity awards as of March 31, 2021. There were 71,934 restricted stock units vested and unissued as of March 31, 2021 which were all issued in April and May 2021. Stock-based compensation expense, which is included in general and administrative expense, for the three months ended March 31, 2021 and 2020, was $662 and $430, respectively. As of March 31, 2021, there was $2,999 in unrecognized compensation expense, which will be recognized over a weighted average period of 1.38 years. On February 28, 2021, in connection with the separation of the Company’s Chief Executive Officer, the Company accelerated the vesting of all unvested options to purchase shares of common stock and extended the period to exercise to August 22, 2021. This acceleration and the extension of the period to vest met the modification criteria for accounting purposes. For these modifications, the Company calculated and recorded the additional compensation expense of $173. On March 1, 2021, the Company granted an option to purchase 1,632,590 shares of common stock to its incoming Chief Executive Officer with a strike price of $1.73 vesting over a three year period, with 544,198 options vesting on the first anniversary of the date of the grant and 136,049 vesting every three months thereafter subject to acceleration of vesting under certain circumstances and expire ten years form the date of the grant. The aggregate fair value of the options granted was $2,103.

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