|9 Months Ended|
Sep. 30, 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. The shares underlying these options were approved by our stockholders on June 29, 2023 and have been included in the table above as of September 30, 2023.
In July 2023, our Board granted, pursuant to our Fifth Amended and Restated 2015 Omnibus Equity Incentive Plan, an aggregate of 450,000 shares of fully vested unrestricted common stock to seven members of the Board of Directors and one member of the management team. As a result, we recognized non-cash stock compensation of approximately $0.2 million during the three months ending September 30, 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 September 30, 2023, there wasunrecognized compensation expense related to non-vested stock options.
The entire disclosure for share-based payment arrangement.
Reference 1: http://www.xbrl.org/2003/role/exampleRef