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Stock-Based Compensation Plan | 3 Months Ended
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Mar. 31, 2022
Share-Based Payment Arrangement [Abstract] |
STOCK-BASED COMPENSATION PLAN | 12. 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 three months ended March 31, 2022, 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, 2022 |  |  | 500 |  |  | $ | 16.1 |  |  |  | 5.32 |
Exercisable at January 1, 2022 |  |  | 500 |  |  | $ | 16.1 |  |  |  | 5.32 |
Granted |  |  | - |  |  |  | - |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |
Forfeited |  |  | - |  |  |  | - |  |  |  | - |
Outstanding at March 31, 2022 |  |  | 500 |  |  | $ | 16.1 |  |  |  | 5.07 |
Exercisable at March 31, 2022 |  |  | 500 |  |  | $ | 16.1 |  |  |  | 5.07 |

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