|3 Months Ended|
Mar. 31, 2023
|Share-Based Payment Arrangement [Abstract]|
The following table summarizes option activity:
During August and September 2022, our Board granted 125,000 options to purchase common stock at $ per share and 900,000 options to purchase common stock at $ per share which are subject to shareholder approval of an amendment to increase the number of shares reserved for issuance under our 2015 Plan. The options vest monthly over a 12-month period from the grant dates. As the shares underlying these options have not been approved by our stockholders, they have been excluded from the table above as of March 31, 2023.
The following table summarizes the stock-based compensation expense recorded for awards under our stock option plans (in thousands):
We use the Black-Scholes-Merton option-pricing model with the following assumptions to estimate the fair value of our stock options:
As of March 31, 2023, there was approximately $ million of total unrecognized compensation expense related to non-vested stock options subject to shareholder approval. This expense is expected to be recognized over a weighted-average period of approximately year.
The entire disclosure for share-based payment arrangement.
Reference 1: http://www.xbrl.org/2003/role/exampleRef