Stock-Based Compensation |
3 Months Ended |
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Mar. 31, 2025 | |
Stock-Based Compensation | |
Stock-Based Compensation |
Note 5. Stock-Based Compensation Stock options The 2013 Equity Incentive Plan (the “2013 Plan”) authorizes the issuance of nonqualified stock options. Payment for the shares may be made in cash, shares of the Company’s common stock or a combination thereof. Under the terms of the 2013 Plan, non-qualified stock options are granted at a minimum of 100% of fair market value on the date of grant and may be exercised at various times depending upon the terms of the option. All existing options expire 10 years from the date of grant, subject to early termination 12 months after termination of employment or service due to death, disability, or termination other than for cause. The grants include a provision providing for acceleration of vesting upon a change of control in the Company.
As of March 31, 2025, the total unrecognized compensation expense related to outstanding stock options was $105, which the Company expects to recognize through October 2028. The Company recognized compensation expense in connection with the vesting of stock options of $10 and $8 for the three months ended March 31, 2025 and 2024, respectively. There were no stock options granted or exercised in the three months ended March 31, 2025 and 2024. Restricted stock units
The 2013 Plan authorizes the issuance of restricted stock units. Stock-based compensation expense is determined on the grant date based on the closing market value of the Company's common stock. The amount of expense is calculated based on an estimate of the number of awards expected to vest at the end of each vesting period and is expensed evenly over the vesting period. In connection with the time of vesting and issuance of shares, an eligible recipient of common stock may elect to have some shares withheld by the Company to satisfy any requirement for withholding taxes. The grants include a provision providing for acceleration of vesting upon a change of control in the Company.
As of March 31, 2025, the total unrecognized compensation expenses related to outstanding restricted stock units is $295, which the Company expects to recognize through August 2028. The Company recognized compensation expense in connection with the vesting of restricted stock units of $22 and $21 for the three months ended March 31, 2025 and 2024, respectively.
There were no restricted stock units granted in the three months ended March 31, 2025 and 2024.
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