Common Stock & Equity Incentive Plans |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock & Equity Incentive Plans | Common Stock & Equity Incentive Plans Common Stock Rights The holders of the Company’s common stock are entitled to one vote per share on all matters submitted to a vote of stockholders, subject to applicable law. The holders of common stock are also entitled to receive dividends, if any, as may be declared by the Company’s board of directors, and to share ratably in the Company’s assets legally available for distribution upon liquidation, dissolution, or winding up of the Company. Equity Incentive Plans 2020 Stock Option and Grant Plan The Company’s 2020 Stock Option and Grant Plan, as amended (the “2020 Plan”), previously provided for the Company to sell or issue common stock or restricted common stock, or to grant incentive stock options or nonqualified stock options for the purchase of common stock, to employees, members of the Board and consultants of the Company. The 2020 Plan was administered by the Board. As of December 31, 2025, no shares of common stock remained available for future grants under the 2020 Plan. Outstanding stock options and restricted common stock awards granted under the 2020 Plan generally vest over four years and expire ten years after the date of grant, and certain awards provide for accelerated vesting upon a change in control. 2025 Stock Option and Grant Plan In January 2025, the Board of Directors and the Company’s stockholders adopted and approved the 2025 Equity Incentive Plan (the “2025 Plan”), which became effective on February 5, 2025, immediately prior to the effectiveness of the Company’s registration statement on Form S-1 for its IPO. The 2025 Plan initially reserved 5,060,000 shares of common stock for issuance and includes an evergreen provision pursuant to which the number of shares reserved for issuance may be automatically increased on an annual basis. Beginning in 2026, the number of shares reserved under the 2025 Plan shall automatically increase annually on January 1 by up to 4% of the total number of shares of common stock outstanding, unless the Board of Directors determines otherwise. The shares reserved for issuance under the 2020 Stock Option and Grant Plan ceased to be available for issuance upon the effectiveness of the 2025 Plan. Any shares subject to outstanding awards under the 2020 Plan that subsequently expire, are forfeited, cancelled, repurchased, or withheld will become available for issuance under the 2025 Plan. As of December 31, 2025, 2,393,345 shares of common stock remained available for future grants under the 2025 Plan. Outstanding stock options and restricted common stock awards granted under the 2025 Plan generally vest over four years and expire ten years after the date of grant, and certain awards provide for accelerated vesting upon a change in control. 2025 Employee Stock Purchase Plan In January 2025, the Board of Directors and the Company’s stockholders adopted and approved the 2025 Employee Stock Purchase Plan (the “2025 ESPP”), which became effective on February 5, 2025, immediately prior to the effectiveness of the Company’s registration statement on Form S-1 for its IPO. The 2025 ESPP initially reserved 390,127 shares of common stock for issuance and includes an evergreen provision pursuant to which the number of shares reserved for issuance may be automatically increased on an annual basis. Beginning in 2026, the number of shares reserved under the 2025 Plan shall automatically increase annually on January 1 by up to 1% of the total number of shares of common stock outstanding, unless the Board of Directors determines otherwise, but not to exceed 780,254 shares. As of December 31, 2025, no offering periods had commenced under the 2025 ESPP. Shares Reserved for Issuance The number of shares of common stock reserved for issuance under the Company's equity incentive plans is as follow:
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