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Stock-Based Compensation
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation
10.Stock-Based Compensation

 

Equity Incentive Plans

 

The Company has one equity incentive plan, the 2023 Equity Incentive Plan (“2023 Plan”), which provides employees, directors, and consultants with opportunities to acquire the Company’s shares, or to receive monetary payments based on the value of such shares. Under the 2023 Plan, Company is able to grant stock option awards, stock appreciation rights, restricted stock awards, restricted stock units, and other stock-based awards. The 2023 Plan provides for up to 145,665 shares of common stock. Grants made under the 2023 Plan will generally vest and become exercisable at various times from the grant dates. These awards will have such vesting or other provisions as may be established by the Board of Directors at the time of each award.

 

In addition, all pre-merger equity plans of the Company and outstanding equity awards under those plans, which include the 2024 Equity Incentive Plan and the 2025 Equity Incentive Plan, were assumed by Ryvyl, effective May 12, 2026, the merger closing date.

 

Equity Plans Activity

 

The following table provides a summary of stock option activity for the six months ended June 30, 2026:

 

 

   Number of
Shares		   Weighted
Average
Exercise
Price		 
Stock options outstanding at December 31, 2025   2,757,580   $1.51 
           
Granted   -    N/A 
Cancelled   (42,071)   0.94 
Exercised   (145,880)   1.89 
Outstanding stock options at June 30, 2026   2,569,629   $1.50 
Outstanding stock options assumed in merger with Ryvyl Inc.   4,960   $74.42 
Total outstanding stock options at June 30, 2026   2,574,589    N/A 
           
Exercisable stock options at June 30, 2026   833,369   $0.95 
Exercisable stock options assumed in merger with Ryvyl Inc.   4,960   $74.42 
Total exercisable stock options at June 30, 2026   838,329    N/A 
           
Unvested stock options at June 30, 2026   173,626   $1.76 
Unvested stock options assumed in merger with Ryvyl Inc.   -    N/A 
Total unvested stock options at June 30, 2026   173,626   $1.76 

 

(1)Common stock available for future issuance at June 30, 2026 represents a combination of 1,485,327 of authorized shares; less 1,253,069 common stock options outstanding under the 2024 Equity Incentive Plan and 1,532,186 authorized shares; less 1,532,186 common stock options outstanding under the 2025 Equity Incentive Plan.

 

As of June 30, 2026, total compensation cost not yet recognized related to unvested options was $1.0 million, which is expected to be recognized over a weighted-average period of 2.5 years.