| Disclosure of Share-based Compensation Arrangements by Share-based Payment Award |
The following table contains information about both plans as of December 31, 2022:
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Awards
Reserved
for Issuance |
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Awards
Exercised |
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Awards
Outstanding |
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Awards
Available
for Grant |
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| 2016 Equity Incentive Plan |
999,906 |
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— |
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499,953 |
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499,953 |
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| 2018 Equity Incentive Plan |
29,920,933 |
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4,022,133 |
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13,326,509 |
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12,572,291 |
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| 2019 Equity Incentive Plan |
61,109,696 |
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34,884 |
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37,617,531 |
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23,457,281 |
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Stock-Based Compensation Expense
The following table sets forth the total stock-based compensation expense resulting from stock options and restricted grants of common stock to employees, directors and non-employee consultants in the consolidated statement of operations which are included in selling, general and administrative expenses:
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(in thousands, except for number of shares or options)
For the Year Ended |
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December 31, 2022 |
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December 31, 2021 |
| Type of Award |
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Number of
Shares or
Options
Granted |
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Stock-Based Compensation
Expense |
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Number of
Shares or
Options
Granted |
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Stock-
Based
Compensation
Expense |
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| Stock Options |
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1,075,001 |
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$ |
3,659 |
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89,930,019 |
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$ |
2,415 |
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| Stock Grants: |
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| Employees (Common Stock) |
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2,100,000 |
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352 |
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250,000 |
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68 |
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| Directors (Common Stock) |
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943,128 |
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213 |
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1,917,837 |
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495 |
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| Non–Employee Consultants (Common Stock) |
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16,906,230 |
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695 |
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4,556,603 |
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1,079 |
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| Total Stock–Based Compensation Expense |
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$ |
4,919
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$ |
4,057
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Year Ended December 31, |
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2022 |
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2021 |
| Expected Term |
5.2 years |
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5 years |
| Volatility |
103.0 |
% |
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106.7 |
% |
| Risk-Free Interest Rate |
0.9 |
% |
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0.8 |
% |
| Dividend Yield |
0 |
% |
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0 |
% |
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| Share-based Payment Arrangement, Option, Activity |
The following table summarizes the Company’s stock option activity and related information for the years ended December 31, 2022 and 2021:
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Number
of Shares |
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Weighted-
Average
Exercise
Price
Per Share |
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Weighted-
Average
Remaining Contractual
Life |
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Aggregate
Intrinsic
Value of In-
the-Money
Options |
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| Options Outstanding as of December 31, 2020 |
17,492,830
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$ |
0.41 |
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| Granted |
88,627,220 |
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$ |
0.23 |
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| Exercised |
(3,910,805) |
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$ |
— |
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| Forfeited |
(13,547,745) |
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$ |
0.15 |
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| Expired |
(410,120) |
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$ |
0.41 |
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| Options Outstanding as of December 31, 2021 |
88,251,380
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$ |
0.20
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| Granted |
1,075,001 |
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$ |
0.14 |
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| Exercised |
(146,212) |
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$ |
0.07 |
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| Forfeited |
(19,365,073) |
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$ |
0.13 |
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| Expired |
(16,993,997) |
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$ |
0.17 |
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| Options Outstanding as of December 31, 2022 |
52,821,099
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$ |
0.23
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7.9 years |
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$ |
2,846
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| Options Exercisable as of December 31, 2022 |
36,825,119
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$ |
0.27
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7.6 years |
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$ |
—
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