Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation

v3.19.1
Stock Based Compensation
3 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
STOCK BASED COMPENSATION
6. STOCK BASED COMPENSATION

 

Options to directors, officers, consultants and employees

 

The Company maintains, as adopted by the board of directors, the 2017 Stock Incentive Plan, the 2016 Stock Incentive Plan, the 2014 Stock Incentive Plan, the 2014 Stock Compensation Plan, 2013 Incentive Stock Plan, the 2012 Incentive Stock Plan, the 2011 Incentive Stock Plan and the 2010 Stock Incentive Plan (the “Plans”) providing for the issuance of options to employees, officers, directors or consultants of the Company. Non-qualified stock options granted under the plans may only be granted with an exercise price equal to the fair market value of the Company’s common stock on the date of grant.  Awards under the plans may be either vested or unvested options. The 2017 Stock Incentive Plan authorized 5,000,000 shares with vesting in sixteen equal quarterly tranches.

 

In addition to the Plans, the Company has granted, on various dates, stock options to directors, officers, consultants and employees to purchase common stock of the Company. The terms, exercise prices and vesting of these awards vary. 

 

The following table summarizes option activity for directors, officers, consultants and employees:

 

              Outstanding Stock Options   
      Options Available for Grant       Number of Options       Weighted
Average
Exercise Price
per Option
      Weighted
Average Grant
Date Fair Value
 per Option
      Weighted
Average
Remaining
Exercise Term
in Months
 
Balance December 31, 2017     4,145,774       3,851,371       3.11       1.84       43  
Additional stock reserved     -       -       -       -       -  
Granted     (340,000 )     340,000       1.18       0.54       56  
Exercised     -       (52,500 )     1.24       0.68       -  
Forfeited     -       -       -       -       -  
Expired     -       (271,250 )     3.22       1.58       -  
Balance December 31, 2018     3,805,774       3,867,621     $ 4.05     $ 1.84       64  
Additional stock reserved                                        
Granted     (2,000,000 )     2,000,000       0.97       0.55       88  
Exercised                                        
Forfeited     1,359,069       (1,359,069 )     4.73       1.94       31  
Expired                                        
Balance March 31, 2019     3,164,843       4,508,552     $ 2.48     $ 1.24       65