Quarterly report [Sections 13 or 15(d)]

Stock-Based Compensation

v3.26.1
Stock-Based Compensation
3 Months Ended
Mar. 31, 2026
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 March 31, 2026, 1,076,312 shares were reserved for issuance related to the 2021 Plan and 2,090,355 shares of our common stock remain available for awards.

 

Stock Option Activity

 

The following table summarizes stock option activity for the three months ended March 31, 2026.

 

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

Aggregate Intrinsic

Value

 
Outstanding at December 31, 2025     1,076,332     $ 4.41       9.89     $  
Cancelled or expired     (20 )     15,120                  
Outstanding at March 31, 2026     1,076,312       4.13       9.64        
Exercisable at March 31, 2026     812,312     $ 5.17       9.63     $  

 

Unrecognized Stock-Based Compensation Costs

 

As of March 31, 2026, unrecognized stock-based compensation was $190,615, which will be recognized over an average expected recognition period of 2.75 years.