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Stock Based Compensation | 6 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Stock Based Compensation | Note 8 - Stock Based Compensation 2019 Equity Incentive Plan On December 19, 2019, the Oblong, Inc. 2019 Equity Incentive Plan (the “2019 Plan”) was approved by the Company’s stockholders at the Company’s 2019 Annual Meeting of Stockholders. The 2019 Plan is an omnibus equity incentive plan pursuant to which the Company may grant equity and cash incentive awards to certain key service providers of the Company and its subsidiaries. As of December 31, 2022, the share pool available for new grants under the 2019 Plan was 177,567. On April 18, 2023, 177,564 restricted stock units were granted to certain members of the board, reducing the share pool available for new grants under the 2019 Plan to 3. A summary of stock compensation expense by category, for the three and six months ended June 30, 2023 and 2022, is as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
Stock Based Compensation | 2023 |  | 2022 |  | 2023 |  | 2022
Options | $ | 31 |  |  | $ | 31 |  |  | $ | 62 |  |  | $ | (1) |
RSU | $ | 380 |  |  | $ | — |  |  | $ | 380 |  |  | $ | — |
Total | $ | 411 |  |  | $ | 31 |  |  | $ | 442 |  |  | $ | (1) |
A summary of stock compensation by department, for the three and six months ended June 30, 2023 and 2022 is as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
Stock Based Compensation | 2023 |  | 2022 |  | 2023 |  | 2022
Research and Development | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (63) |
General & Administrative | $ | 411 |  |  | $ | 31 |  |  | $ | 442 |  |  | $ | 62 |
Total | $ | 411 |  |  | $ | 31 |  |  | $ | 442 |  |  | $ | (1) |
Stock Options During the six months ended June 30, 2023, no stock options were granted, 3,336 stock options vested, and 6,668 vested stock options expired. During the six months ended June 30, 2022, no stock options were granted, 501 vested stock options expired, and 10,000 unvested stock options were forfeited. A summary of stock options granted, expired, and forfeited under our plans, and options outstanding as of, and changes made during the six months ended June 30, 2023 and year ended December 31, 2022 is presented below:
| Outstanding |  | Exercisable
| Number of Options |  | Weighted Average Exercise Price |  | Number of Options |  | Weighted Average Exercise Price
Options outstanding and exercisable, December 31, 2021 | 27,169 |  |  | $ | 113.63 |  |  | 7,169 |  |  | $ | — |
Vested | — |  |  | — |  | 3,332 |  |  | 48.75
Expired | (501) |  |  | 410.18 |  | (501) |  |  | 410.18
Forfeited | (10,000) |  |  | 48.75 |  | — |  |  | — |
Options outstanding and exercisable, December 31, 2022 | 16,668 |  |  | 143.63 |  |  | 10,000 |  |  | 206.85 |
Vested | — |  |  | — |  |  | 3,336 |  |  | 48.75 |
Expired | (6,668) |  |  | 285.89 |  |  | (6,668) |  |  | 285.89 |
Options outstanding and exercisable, June 30, 2023 | 10,000 |  |  | $ | 48.75 |  |  | 6,668 |  |  | $ | 48.75 |
Additional information as of June 30, 2023 is as follows:
|  | Outstanding |  | Exercisable
Range of price |  | Number of Options |  | Weighted Average Remaining Contractual Life (In Years) |  | Weighted Average Exercise Price |  | Number of Options |  | Weighted Average Exercise Price
$0.00 – $100.00 |  | 10,000 |  |  | 8.00 |  | $ | 48.75 |  |  | 6,668 |  |  | $ | 48.75 |
The intrinsic value of vested and unvested options was not significant for all periods presented. Stock compensation expense related to stock options for the three months ended June 30, 2023 and 2022 was $31,000. Stock compensation expense related to stock options for the six months ended June 30, 2023 was $62,000, and net stock compensation expense related to stock options for the six months ended June 30, 2022 was a credit of $1,000, made up of $83,000 in expense offset by $84,000 related to forfeiture credits. The remaining unrecognized stock-based compensation expense for options as of June 30, 2023 is $123,000, which will be recognized over a weighted average period of 1.00 year. Restricted Stock Awards On May 28, 2023, in relation to the departure of certain directors, 42 restricted stock awards became fully vested and were delivered in shares of the Company’s common stock. The awards were issued in 2014 and vested over the lesser of ten years, a change in control, or separation from the company. As of June 30, 2023, there were no unvested restricted stock awards outstanding and there is no unrecognized stock-based compensation expense for restricted stock awards. There was no stock compensation expense related to restricted stock awards during the three and six months ended June 30, 2023 and 2022. Restricted Stock Units On April 18, 2023, 177,564 restricted stock units (“RSUs”) were granted to certain board members. These RSUs vested immediately upon issuance. The closing price per share of the Company’s common stock was $2.14 on the day prior to the grant date, resulting in a total fair value of $380,000 which was included in general and administrative expense, as stock-based compensation expense, upon issuance. On May 28, 2023, in relation to the departure of certain directors, 1,929 fully vested RSUs were delivered in shares of the Company’s common stock, in accordance with the terms of the RSUs. As of June 30, 2023, there were no unvested RSUs outstanding and there was no remaining unrecognized stock-based compensation expense for RSUs. There was no stock compensation expense related to RSUs for the three and six months ended June 30, 2023 and 2022.

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