v3.26.1
Share-Based Compensation
6 Months Ended
Jun. 30, 2026
Share-Based Compensation [Abstract]  
Share-based Compensation
11. Share-based Compensation

 

On February 28, 2023, the Company’s Board of Directors approved the issuance of up to 10,000 shares of the Company’s common stock in the form of incentive stock options, nonqualified stock options, options, stock appreciation rights, restricted stock, or restricted stock units (as amended from time to time, the “2023 Plan”). The 2023 Plan expires February 2033 and is administered by the Company’s Compensation Committee of the Board of Directors. Any employee, director, consultant, and other service provider, or affiliates, are eligible to participate in the 2023 Plan. The maximum number of shares of common stock that may be issued under the 2023 Plan automatically increases on January 1 of each calendar years for a period of ten years commencing on January 1, 2024, by a number of shares of common stock equal to 4.5% of the total number of shares of common stock outstanding on December 31 of the preceding calendar year, provided, however that the Board of Directors may act prior to January 1 of a given calendar year to provide that the increase for such year will be a lesser number of shares of Common Stock. All available shares may be utilized toward the grant of any type of award under the 2023 Plan. On January 1, 2024, 1,148 shares of the Company’s common stock were added to the 2023 Plan pursuant to the evergreen provision. On January 1, 2025, 3,339 shares of the Company’s common stock were added to the 2023 Plan pursuant to the evergreen provision. On January 1, 2026, 42,204 shares of the Company’s common stock were added to the 2023 Plan pursuant to the evergreen provision. In August 2025, the Company’s Board approved, subject to stockholder approval, an amendment to the 2023 Plan to increase the number of shares authorized for issuance thereunder by 60,000 shares of common stock. Stockholders approved this amendment on September 29, 2025. In May 2026, the Company’s Board approved, subject to stockholder approval, an amendment to the 2023 Plan to (i) increase the number of shares authorized for issuance thereunder by 381,139 shares of common stock, and (ii) increase the total number of shares of common stock with respect to which awards may be granted to any non-employee director in his or her capacity as a non-employee director in any single calendar year by 72,500 shares of common stock. Stockholders approved this amendment on June 12, 2026 at the 2026 Annual Meeting. As of June 30, 2026, there were 473,292 shares of the Company’s common stock available for issuance under the 2023 Plan.