Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.19.3
Stock-Based Compensation
9 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation STOCK-BASED COMPENSATION
The Company maintains, as adopted by the board of directors, the 2019 Stock Incentive Plan as well as previous years plans (the “Plans”) providing for the issuance of equity based awards 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.
In addition to the awards issued under 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 Outstanding 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
Granted (340,000)   340,000    1.18    0.54    56
Exercised —    (52,500)   1.24    0.68    —   
Forfeited and expired —    (271,250)   3.22    1.58    —   
Balance, December 31, 2018 3,805,774    3,867,621    4.05    1.84    64
Additional Shares Authorized under 2019 Plan 8,000,000    —   
Granted (2,400,000)   2,400,000    0.96    0.53    81
Exercised —    (497,552)   0.12    0.97    —   
Forfeited and expired 1,774,069    (1,774,069)   4.85 1.97 —   
Balance, September 30, 2019 11,179,843    3,996,000    $ 2.33    $ 1.12    66