Quarterly report pursuant to Section 13 or 15(d)

SHARE-BASED COMPENSATION

v3.20.2
SHARE-BASED COMPENSATION
9 Months Ended
Sep. 30, 2020
SHARE-BASED COMPENSATION [Abstract]  
SHARE-BASED COMPENSATION

10. SHARE-BASED COMPENSATION

As of September 30, 2020, the Company had 105,677 share-based awards authorized by shareholders and available for grant from the 2015 Equity Incentive Plan (the “2015 Plan”).

The following table summarizes information related to the Company’s common stock options as of September 30, 2020:

 

 

 

 

 

 

 

    

 

    

Weighted

 

 

Number

 

Average

 

 

of Stock

 

Exercise

 

 

Options

 

Price

Options outstanding at January 1, 2020

 

2,844,405

 

$

1.71

Granted

 

388,000

 

 

1.73

Exercised

 

 —

 

 

 —

Canceled/Forfeited

 

(8,650)

 

 

2.23

Expired

 

(25,158)

 

 

2.30

Options outstanding at September 30, 2020

 

3,198,597

 

$

1.71

Options exercisable at September 30, 2020

 

2,497,262

 

$

1.65

 

Share-based compensation expense totaled $121,000 and $70,000 for the three-months ended September 30, 2020 and 2019, respectively, and $307,000 and $263,000 for the nine-months ended September 30, 2020 and 2019, respectively. As of September 30, 2020, there was approximately $0.6 million of unrecognized compensation cost related to unvested stock options previously granted that is expected to be recognized over a weighted-average period of approximately 2.1 years.