(9) Stock Option Plans

2014 Equity Incentive Plan

In 2014, the Company approved a stock option grant plan (the “2014 Equity Incentive Plan”) for employees, directors, and non-employee consultants, which provides for the issuance of options to purchase common stock. The Company no longer grants new awards under the 2014 Equity Incentive Plan, and outstanding awards remain subject to its terms, which are described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. As of June 30, 2026, 534,600 shares are available for grant and 194,050 shares underlying outstanding grants.

2021 Equity Incentive Plan

In 2021, the Company approved the 2021 Omnibus Equity Incentive Plan (as amended, the “2021 Equity Incentive Plan”). The 2021 Equity Incentive Plan provides grants of stock options, restricted stock units and other stock-based awards to employees, directors, and non-employee consultants. The 2021 Equity Incentive Plan includes an annual evergreen provision that increases the shares reserved for issuance at the beginning of each calendar year, subject to a cap, and has been amended to increase the shares available

for grant, most recently by stockholder approval at the 2024 Annual Meeting and the 2025 Special Meeting. The terms of the 2021 Equity Incentive Plan and these amendments are described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. As of June 30, 2026, 47,594,877 shares of common stock were reserved for issuance under the 2021 Equity Incentive Plan, with 7,953,817 shares available for grant and 39,641,060 shares underlying outstanding grants.

Employee Stock Purchase Plan

The Company offers an Employee Stock Purchase Plan (“ESPP”) that allows eligible employees to purchase shares of common stock at a discount of up to 15% from the lower of the fair market value at the beginning or end of the offering period. Under ASC 718, the ESPP is classified as compensatory, and stock-based compensation expense is recognized for the fair value of the discount and any embedded option features. No shares were issued under the ESPP during either the three and six months ended June 30, 2026 and 2025, and no stock-based compensation expense was recognized. As of June 30, 2026, 100,000 shares remained available for future issuance.

Stock Options

Total unrecognized compensation cost related to non-vested stock options as of June 30, 2026, was approximately $92.8 million and is expected to be recognized within future operating results over a weighted-average period of 3.30 years.

The weighted average grant date fair value of options granted during the three and six months ended June 30, 2026, was $2.87 and $3.57 per share, respectively. During the three and six months ended June 30, 2026, 147,847 and 295,799 options vested with a fair value totaling $0.5 million and $1.0 million, respectively.

The weighted average grant date fair value of options granted during the three and six months ended June 30, 2025, was $1.44 and $1.44 per share, respectively. During the three and six months ended June 30, 2025, 113,024 and 394,836 options vested with a fair value totaling $0.4 million and $1.5 million, respectively.

Restricted Stock

At June 30, 2026, the unrecognized equity-based compensation related to restricted stock units (“RSUs”) outstanding was de minimis. During the six months ended June 30, 2026, a total of 8,358 RSUs vested. For the six months ended June 30, 2026, the Company issued a net total of 6,033 RSUs. The unrecognized expense for restricted stock units is expected to be recognized within future operating results over a weighted average period of 0.65 years.

Stock-based compensation expense