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| SHARE-BASED COMPENSATION | SHARE-BASED COMPENSATION 2023 Equity Incentive Plan As of June 30, 2026, the Company maintained the 2023 Equity Incentive Plan (the "2023 Plan") and previously maintained the 2019 Equity Incentive Plan (the “2019 Plan”) and 2018 Omnibus Incentive Plan (the "2018 Plan"). Following stockholder approval in December 2023, any shares then available for future grant under the 2019 Plan and 2018 Plan were allocated to the 2023 Plan and no further grants could be made under the 2018 Plan and the 2019 Plan. In December 2024, stockholders approved a proposal to amend the 2023 Plan to increase shares available for grant under the 2023 Plan by 30,400 shares. As of June 30, 2026, 6,352 shares remained issuable under the 2023 Plan. Following the Merger and the adoption of the 2026 Plan, as further described in Note 12, “Subsequent Events,” no further awards may be granted under the 2023 Plan. 2024 Inducement Plan On February 28, 2024, the Board of Directors approved the Company's 2024 Inducement Plan (the "Inducement Plan"). Pursuant to the Inducement Plan and Nasdaq Listing Rule 5635(c)(4), as of June 30, 2026 the Company is permitted to grant equity awards as an inducement material to an individual's entering into employment with the Company, subject to certain conditions ("Inducement Grants"). In November 2024, the Board of Directors reduced the number of shares available to be issued under the Inducement Plan to one share. In the second quarter of 2025 and the first half of 2026, 2,225 and 263 shares, respectively, were returned to the Inducement Plan as a result of forfeited equity awards. As of June 30, 2026, 2,488 shares were available for future Inducement Grants. Following the Merger and the adoption of the 2026 Plan, as further described in Note 12, “Subsequent Events,” no further awards may be granted under the Inducement Plan. 2019 Employee Share Purchase Plan The Company has adopted the 2019 Employee Share Purchase Plan (the "ESPP") pursuant to which qualified employees (as defined in the ESPP) may elect to purchase designated shares of the Company’s common stock at a price equal to 85% of the lesser of the fair market value of the common stock at the beginning or end of each semi-annual share purchase period (“Purchase Period”). As of June 30, 2026, employees were permitted to purchase the number of shares purchasable with up to 15% of the earnings paid (as such term is defined in the ESPP) to each of the participating employees during the Purchase Period, subject to certain limitations under Section 423 of the U.S. Internal Revenue Code. In May 2026, ahead of the anticipated Closing Date of the Merger, the Compensation Committee of the Board of Directors terminated all subsequent offerings under the ESPP. As of June 30, 2026, 604 shares remained available for grant under the ESPP. Subsequent to June 30, 2026 the ESPP was terminated in connection with the Merger and no shares remain available for grant. For the six months ended June 30, 2026 and 2025, 644 and 324 shares were purchased by employees pursuant to the ESPP, respectively. Options and RSUs granted to employees and directors: For the six months ended June 30, 2026, no options or RSUs were granted to employees and directors. Stock-based compensation expenses: The following table illustrates the effect of stock-based compensation on the line items on the unaudited condensed consolidated statements of operations and comprehensive loss:
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