Note 12 – Equity Incentive Plan

The Company’s Board of Directors and stockholders adopted and approved the Amended and Restated 2014 Omnibus Equity Incentive Plan (the “2014 Plan”), which became effective on May 12, 2014. The Company’s Board of Directors and stockholders also adopted and approved the 2020 Omnibus Equity Incentive Plan (the “2020 Plan”), which became effective on September 11, 2020. Following the adoption of the 2020 Plan, no new awards have been or will be granted under the 2014 Plan.

The 2020 Plan provides for the issuance of equity-based awards, including stock options and restricted stock units, to employees, directors and consultants. As of January 1, 2026, the number of shares of common stock available for issuance under the 2020 Plan automatically increased to 941,100 shares pursuant to the evergreen provision of the plan.

The following table summarizes the Company’s stock option activity:

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There were no grants of stock options during the three months ended March 31, 2026 or 2025.

Restricted Stock Units

Restricted stock unit awards (“RSUs”) represent the right to receive shares of the Company’s common stock upon satisfaction of applicable vesting conditions under the Company’s 2020 Omnibus Equity Incentive Plan.

RSU activity for the three months ended March 31, 2026 was as follows:

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During the three months ended March 31, 2026, the Board approved the grant of 225,000 RSUs pursuant to the 2020 Plan. During the period, 385,000 RSUs vested, resulting in no non-vested RSUs outstanding as of March 31, 2026.

Stock - Based Compensation Expense

The total stock-based compensation expense recognized in the condensed consolidated statements of operations was as follows:

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As of March 31, 2026, the Company had no material unrecognized stock-based compensation expense related to outstanding stock options or restricted stock units.