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Stock-Based Compensation Plan
 6 Months Ended 12 Months Ended
Jun. 30, 2021
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]    
STOCK-BASED COMPENSATION PLAN

13. STOCK-BASED COMPENSATION PLAN

 

Options to Employees and Directors

 

On June 19, 2015, the stockholders of the Company approved the China Recycling Energy Corporation Omnibus Equity Plan (the “Plan”) at its annual meeting. The total shares of Common Stock authorized for issuance during the term of the Plan is 124,626 (post-reverse stock split). The Plan was effective immediately upon its adoption by the Board of Directors on April 24, 2015, subject to stockholder approval, and will terminate on the earliest to occur of (i) the 10th anniversary of the Plan’s effective date, or (ii) the date on which all shares available for issuance under the Plan shall have been issued as fully-vested shares. The stockholders approved the Plan at their annual meeting on June 19, 2015.

 

The following table summarizes option activity with respect to employees and independent directors for the six months ended June 30, 2021, and the number of options reflects the Reverse Stock Split effective April 13, 2020:

 

   Number of
Shares		   Average
Exercise Price
per Share (post-reverse stock split price)		   Weighted
Average
Remaining
Contractual
Term in
Years		 
Outstanding at January 1, 2021   500   $16.1    6.32 
Exercisable at January 1, 2021   500   $16.1    6.32 
Granted   
-
    
-
    
-
 
Exercised   
-
    
-
    
-
 
Forfeited   
-
    
-
    
-
 
Outstanding at June 30, 2021   500   $16.1    5.82 
Exercisable at June 30, 2021   500   $16.1    5.82 

15. STOCK-BASED COMPENSATION PLAN

 

Options to Employees and Directors

 

On June 19, 2015, the stockholders of the Company approved the China Recycling Energy Corporation Omnibus Equity Plan (the “Plan”) at its annual meeting. The total shares of Common Stock authorized for issuance during the term of the Plan is 124,626 (post-reverse stock split). The Plan was effective immediately upon its adoption by the Board of Directors on April 24, 2015, subject to stockholder approval, and will terminate on the earliest to occur of (i) the 10th anniversary of the Plan’s effective date, or (ii) the date on which all shares available for issuance under the Plan shall have been issued as fully-vested shares. The stockholders approved the Plan at their annual meeting on June 19, 2015.

 

The following table summarizes option activity with respect to employees and independent directors, and the number of options reflects the Reverse Stock Split effective April 13, 2020:

 

   Number of
Shares		   Average
Exercise Price
per Share (post-reverse stock split price)		   Weighted
Average
Remaining
Contractual
Term in Years		 
Outstanding at January 1, 2019   900   $54.3    5.41 
Exercisable at January 1, 2019   900   $54.3    5.41 
Granted   
-
    
-
    
-
 
Exercised   
-
    
-
    
-
 
Forfeited   
-
    
-
    
-
 
Outstanding at December 31, 2019   900    54.3    4.41 
Exercisable at December 31, 2019   900    54.3    4.41 
Granted   
-
    
-
    
-
 
Exercised   
-
    
-
    
-
 
Expired   (400)   102.0    
-
 
Outstanding at December 31, 2020   500   $16.1    6.32 
Exercisable at December 31, 2020   500   $54.3    6.32