v3.23.3
SHARE-BASED COMPENSATION
 9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION
Under the Company's equity compensation plan (the “Plan”), the Company is authorized to issue share-based compensation awards to key employees, directors and consultants.
Restricted Stock Units (“RSUs”) Activity
The following is a summary of the changes in RSUs under the Plan (and prior equity compensation plans) during the current period:
RSU ActivityPeriod Ended
Number of Restricted Stock Units(1)
Weighted Average Purchase PriceWeighted Average Remaining Contractual Term (Years)Aggregate Intrinsic Value as of September 30,
2023
(RSU and dollar amounts in thousands)
RSUs outstanding as of:December 31, 2022208 
RSUs awardedSeptember 30, 2023200 
RSUs releasedSeptember 30, 2023(113)
RSUs forfeitedSeptember 30, 2023(15)
RSUs outstanding as of:September 30, 2023281 $— 1.48$154 
RSUs vested and expected to vest as of:September 30, 2023271 $— 1.48$149 
RSUs exercisable (vested and deferred) as of:September 30, 2023170 $— $— $— 
Weighted average remaining recognition period2.49 years
Unamortized compensation expense$4,937 
(1)Reverse Stock Split applied
RSUs with Service and Market Conditions
The Company issued RSUs with service and market conditions that are included in the table above.
Option Activity

The following table presents the option activity during the current period under the Plan (and prior equity compensation plans):
Option ActivityPeriod Ended
Number of Options(1)
Weighted Average Exercise PriceWeighted Average Remaining Contractual Term (Years)Intrinsic Value as of September 30, 2023
(RSU and dollar amounts in thousands)
Options outstanding as of:December 31, 202220 $339.90 
Options expiredSeptember 30, 2023(5)397.20 
Options outstanding as of:September 30, 202315 $320.55 1.56$— 
Options vested and expected to vest as of:September 30, 202315 $320.55 1.56$— 
Options vested and exercisable as of:September 30, 202315 $320.55 1.56$— 
Weighted average remaining recognition period0 years
Unamortized compensation expense$— 
(1)Reverse Stock Split applied
The following table summarizes significant ranges of outstanding and exercisable options as of the current period:
Options Outstanding(1)
Options Exercisable(1)
(amounts in thousands)
Range of
Exercise Prices		Number of Options Outstanding September 30,
2023		Weighted
Average
Remaining
Contractual
Life		Weighted
Average
Exercise
Price		Number of Options Exercisable September 30,
2023		Weighted
Average
Exercise
Price
FromTo
$106.20 210.3 2 5.7162.05 2 $162.05 
$289.80 419.4 13 0.8347.75 13 $347.75 
$106.20 419.4 15 1.56320.55 15 $320.55 
(1)Reverse Stock Split applied
Recognized Non-Cash Stock-Based Compensation Expense
The following non-cash stock-based compensation expense, which is related primarily to RSUs, is included in each of the respective line items in the Company’s statement of operations:
Three Months Ended September 30, 2023
Non-Cash Stock-Based Compensation Expense20232022
(amounts in thousands)
Station operating expenses$303 $828 
Corporate general and administrative expenses446 24 
Stock-based compensation expense included in operating expenses749 852 
Income tax benefit (1)
103 50 
After-tax stock-based compensation expense$646 $802 

Nine Months Ended September 30, 2023
Non-Cash Stock-Based Compensation Expense20232022
(amounts in thousands)
Station operating expenses$1,449 $2,989 
Corporate general and administrative expenses2,298 3,956 
Stock-based compensation expense included in operating expenses3,747 6,945 
Income tax benefit (1)
689 1,404 
After-tax stock-based compensation expense$3,058 $5,541 
(1) Amounts exclude impact from any compensation expense subject to Section 162(m) of the Code, which is nondeductible for income tax purposes.