Note 18. Share-Based Compensation The 2017 Equity Incentive Plan, referred to as the “2017 Plan”, was adopted by the Company on July 14, 2017 and subsequently amended in April 2021. The following table is a summary of the changes in stock options granted under the plans: | | | | | | | 2017 Plan | | | | | Weighted | | | | | average | | | | | exercise | | | | | price | | | Number | | per share | | | of options | | (US$) | Outstanding as at January 1, 2022 | | 2,001,822 | | 10.31 | Forfeited | | (64,746) | | 11.17 | Exercise of stock options (weighted average share price at dates of exercises: US$8.49 per share) | | (42,949) | | 7.44 | Outstanding as at December 31, 2022 | | 1,894,127 | | 10.34 | Forfeited | | (54,150) | | 10.20 | Outstanding as at December 31, 2023 | | 1,839,977 | | 10.35 | Exercise of stock options (weighted average share price at dates of exercises: US$7.29 per share) | | (13,077) | | 7.44 | Forfeited | | (310,780) | | 10.32 | Outstanding as at December 31, 2024 | | 1,516,120 | | 10.44 | As at December 31, 2024: | | | | | Options exercisable | | 1,516,120 | | | Options available for granting in future periods | | 643,335 | | |
The following table summarizes information about stock options outstanding and exercisable as at December 31, 2024: | | | | | | | Options Outstanding and Exercisable | | | | | Weighted average remaining | Exercise Price per Share (US$) | | Number | | contractual life (in years) | $7.44 | | 296,541 | | 2.92 | $11.17 | | 1,219,579 | | 6.33 | Total | | 1,516,120 | | 5.66 |
The following table summarizes the share-based compensation expenses recognized by the Group in its consolidated statements of operations: | | | | | | | | | | Years ended December 31: | | 2024 | | 2023 | | 2022 | Share-based compensation expenses arising from stock awards granted by the Company | | $ | — | | $ | — | | $ | — |
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