Note 12. Share-based Compensation

The Company’s 2017 Stock Plan (the “2017 Plan”) provides for granting stock options and restricted stock awards to employees, directors, contractors and consultants of the Company. A total of 3,182,335 shares of common stock are authorized to be issued pursuant to the 2017 Plan. As of December 31, 2022, there were 2,739,261 shares available for future grants under the 2017 Plan. The Company has not since August 2019 granted, and in the future does not intend to grant, awards under the 2017 Stock Plan.

The Company’s 2019 Omnibus Stock Incentive Plan (the “2019 Plan”) provides for granting stock options and restricted stock awards to employees, directors, contractors and consultants of the Company. During 2022 and 2021, the Company amended the 2019 Plan by adding an additional two million and one million shares authorized to be issued, respectively. A total of 4,060,778 shares of common stock are authorized to be issued pursuant to the 2019 Plan. As of December 31, 2022, there were 1,680,931 shares available for future grants under the 2019 Plan.

Restricted Stock Awards

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In March 2021, pursuant to the 2019 Plan, in connection with the Company’s acquisitions of Naberly and Red Barn (see Note 3), the Company granted 44,568 restricted stock awards to former founders who are now employees of the Company, of which 10,478 will vest one year from the grant date, and the remaining 34,090 will vest 18 months from the grant date. The fair value of the Company’s restricted stock awards granted in March 2022 was $44.00 per share based on the Company’s closing stock price on the grant date.

During 2022 in connection with acquiring brokerage teams, the Company issued an aggregate of 28,846 restricted stock awards to former founders who are now employees of the Company the majority of which vest within one year from the grant date.

At December 31, 2022, the total unrecognized compensation related to unvested restricted stock awards granted was $12.2 million which the Company expects to recognize over a period of approximately two years.

Restricted Stock Units

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During 2022, the Company commenced granting restricted stock units to employees and agents.

At December 31, 2022, the total unrecognized compensation related to unvested restricted stock units was granted was $1.8 million which the Company expects to recognize over a period of approximately eighteen months.

Stock Option Awards

A summary of stock option activity under the 2017 and 2019 Plans are as follows:

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The weighted-average grant-date fair value of options granted during the years ended December 31, 2022 and 2021, was $8.22 and $18.64, respectively. At December 31, 2022, the total unrecognized compensation related to unvested stock option awards granted was $0.3 million which the Company expects to recognize over a period of approximately 7 months.

Stock based compensation related to the Company’s 2017 and 2019 Plans are as follows (amount in thousands):

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The Company capitalized $0.2 million and $0.8 million of stock-based compensation expense associated with the cost of developing software for internal use during the years ended December 31, 2022 and 2021, respectively.