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Stock-Based Compensation Plan
 12 Months Ended
Dec. 31, 2022
Stock-Based Compensation Plan [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 . 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 years ended December 31, 2022 and 2021:

 

   Number of
Shares		   Average
Exercise
Price
per Share		   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 December 31, 2021   500   $16.1    5.32 
Exercisable at December 31, 2021   500   $16.1    5.32 
Granted   
-
    
-
    
-
 
Exercised   
-
    
-
    
-
 
Forfeited   
-
    
-
    
-
 
Outstanding at December 31, 2022   500   $16.1    4.32 
Exercisable at December 31, 2022   500   $16.1    4.32