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Note 6 - Stock Based Compensation
 6 Months Ended
Jun. 30, 2024
Notes to Financial Statements  
Share-Based Payment Arrangement [Text Block]

Note 6 - 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, 2023 and June 30, 2024, the share pool available for new grants under the 2019 Plan was 3.

 

Stock Options

 

A summary of stock option activity under our plans, and options outstanding as of, and changes made during the six months ended June 30, 2024 and year ended December 31, 2023 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, 2022

  16,668  $143.62   10,000  $239.38 

Vested

  —   —   3,336   48.75 

Expired

  (6,668)  285.89   (6,668)  285.89 

Options outstanding and exercisable, December 31, 2023

  10,000   48.75   6,668   48.75 

Vested

  —       3,332   48.75 

Options outstanding and exercisable, June 30, 2024

  10,000  $48.75   10,000  $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, 2024 and 2023 was $31,000 and stock compensation for the six months ended June 30, 2024 and 2023 was $62,000, which was included as a general and administrative expense on our Condensed Consolidated Statements of Operations. As of June 30, 2024 there is no remaining unamortized stock compensation expense.

 

Restricted Stock

 

As of June 30, 2024 and December 31, 2023, there were no outstanding restricted stock awards ("RSAs") or restricted stock units (“RSUs,” collectively "Restricted Stock"). There was no Restricted Stock activity or expense for the three and six months ended June 30, 2024. During the three and six months ended June 30, 2023, 42 RSAs became fully vested and were delivered in shares of the Company's common stock. These RSAs were issued in 2014 and had been fully expensed, so there was no stock compensation expense related to RSAs for the three and six months ended June 30, 2023. During the three and six months ended June 30, 2023, 177,564 RSUs were granted to certain board members. These RSU's vested immediately upon issuance and the stock compensation related to RSUs for the three and six months ended June 30, 2023 was $380,000, which was included in general and administrative expense on our Condensed Consolidated Statements of Operations. The following table shows a summary of Restricted Stock activity for the six months ended June 30, 2024 and the year ended December 31, 2023.

 

  

Restricted Stock Awards

  

Restricted Stock Units

 
  

Shares

  

Weighted Average Grant Price

  

Shares

  

Weighted Average Grant Price

 

Unvested shares, December 31, 2022

  42  $235.87   —  $— 

Granted

  —      177,564   2.14 

Vested

  (42)  235.87   (177,564)  2.14 

Unvested Shares, December 31, 2023

  —   —   —   — 

Unvested Shares, June 30, 2024

  —  $—   —  $—