Quarterly report [Sections 13 or 15(d)]

Stock-Based Compensation

v3.25.3
Stock-Based Compensation
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation

Note 6. Stock-Based Compensation

 

2021 Equity Incentive Plan

 

Our 2021 Equity Incentive Plan (the “2021 Plan”) authorizes the grant of stock options (incentive and non-statutory), stock appreciation rights and restricted stock covering a total of 3,166,667 shares of our common stock. Options are granted at the fair value of our common stock on the date of grant and generally vest either immediately or over a period of up to three years from the date of grant and expire 10 years from the date of grant. As of September 30, 2025, 24,012 shares were reserved for issuance related to the 2021 Plan and 3,142,655 shares of our common stock remain available for awards.

 

Stock Option Activity

 

The following table summarizes stock option activity for the nine-months ended September 30, 2025.

 

    Number of Shares     Weighted Average Exercise Price per Share     Weighted Average Remaining Contractual Life (in years)    

Aggregate Intrinsic

Value

  
Outstanding at December 31, 2024     33,150     $ 142.71       6.72     $ —  

Forfeited

     (9,138 )     105.90                  
Outstanding at September 30, 2025     24,012       156.72       7.79       —  
Exercisable at September 30, 2025     24,012     $ 156.72       7.79     $ —  

 

Unrecognized Stock-Based Compensation Costs

 

As of September 30, 2025, there was no unrecognized stock-based compensation expense.