Stockholders' Equity and Equity Incentive Plans (Tables)

9 Months Ended

Sep. 30, 2022

The Company's outstanding equity awards as well as reserved common stock for future issuance is as follows:


	September 30, 2022	December 31, 2021
Outstanding options under the 2016 Equity Incentive Plan (the 2016 Plan)	1,800,334	1,935,240
Outstanding options under the 2019 Equity Incentive Plan (the 2019 Plan)	2,775,926	2,078,232
Outstanding options under the 2021 Equity Inducement Plan (the 2021 Plan)	514,883	270,600
Outstanding performance stock units (PSUs) under the 2019 Plan	1,038,250	—
Unvested restricted stock units (RSUs) under the 2019 Plan	987,428	179,149
Equity awards available for grant under the 2019 Plan (1)	66,380	1,535,488
Equity awards available for grant under the 2021 Plan	135,117	379,400
Shares reserved for purchase under the Employee Stock Purchase Plan (the ESPP) (2)	362,316	225,447
Total	7,680,634	6,603,556

(1) Effective January 1, 2022, in connection with the evergreen provision contained in the 2019 Plan, an additional 1,070,967 shares of common stock were reserved for issuance under the 2019 Plan, including 7,784 shares of common stock that have become available for issuance under the 2019 Plan as a result of the forfeiture, termination, tender to or withholding for payment of an exercise price or for tax withholding obligations, expiration or repurchase of stock options, restricted stock units or other stock awards that had been granted under the 2016 Plan, pursuant to the terms of the 2019 Plan.

(2) Effective January 1, 2022, in connection with an evergreen provision contained in the ESPP, an additional 265,795 shares of common stock were reserved for issuance under the ESPP.

Schedule of stock options activity

The following table summarizes stock option activity under the 2016 Plan, the 2019 Plan and the 2021 Plan for the nine months ended September 30, 2022 (in thousands, except shares, contractual term and per share data):


	Outstanding Options
	Number of Shares Underlying Outstanding Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding at January 1, 2022	4,284,072	$	13.54	8.1	$	28,874
Options granted	1,458,967	14.45			—
Options exercised	(69,930)	1.09			995
Options forfeited	(581,966)	17.44			23
Outstanding at September 30, 2022	5,091,143	13.53		7.8	3,122
Shares vested and exercisable as of September 30, 2022	2,562,866	11.55		6.8	3,023
Vested and expected to vest as of September 30, 2022	5,091,143	$	13.53	7.8	$	3,122

Schedule of activity for restricted stock units

Activity with respect to the Company's RSUs for the nine months ended September 30, 2022 was as follows (in thousands, except share, contractual term, and per share data):


	Outstanding RSUs
	Number of Shares Underlying Outstanding Awards	Weighted Average Grant Date Fair Value per Share		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding at January 1, 2022	179,149	$	17.52	2.4	$	3,271
Restricted stock units granted	918,357	7.43			6,822
Restricted stock units vested	(60,480)	17.86			451
Restricted stock units forfeited	(49,598)	14.37			251
Outstanding at September 30, 2022	987,428	8.27		2.1	5,549
Vested and expected to vest as of September 30, 2022	987,428	$	8.27	2.1	$	5,549

Schedule of stock-based compensation expense

The following is a summary of stock-based compensation expense by function recognized (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Sales and marketing	$	549	$	812	$	2,882	$	1,959
General and administrative	2,664		1,818		7,605		5,573
Research and development	557		485		1,825		1,311
Total stock-based compensation expense	$	3,770	$	3,115	$	12,312	$	8,843