|12 Months Ended|
Dec. 31, 2020
|Share-based Payment Arrangement [Abstract]|
|STOCK-BASED COMPENSATION||STOCK-BASED COMPENSATION
The Company maintains, as approved by the board of directors, the 2019 Stock Incentive Plan (the “Plan”) providing for the issuance of stock-based awards to employees, officers, directors or consultants of the Company. Non-qualified stock options may only be granted with an exercise price equal to the market value of the Company’s common stock on the grant date. Awards under the plans may be either vested or unvested options, or unvested restricted stock. The Plan has authorized 8.0 million shares for issuance of stock-based awards. As of December 31, 2020 and December 31, 2019, there were approximately 6.6 million and 8.0 million shares available for issuance of future stock awards, respectively, which includes shares available under the 2019 and 2017 incentive plans.
Stock-based compensation expense
The following table summarizes stock-based compensation expense:
In November 2019, the vesting for 1.0 million stock options issued to an officer of the Company were accelerated, resulting in the remaining unvested compensation of approximately $0.5 million being recognized in the year ended December 31, 2019.
The following table summarizes stock option activity:
As of December 31, 2020, unrecognized compensation expense was $0.2 million for unvested options, which is expected to be recognized over the next 1.8 years.
The following table summarizes restricted stock activity:
As of December 31, 2020, unrecognized compensation expense was $2.9 million for unvested restricted stock, which is expected to be recognized over the next 1.9 years.
The entire disclosure for share-based payment arrangement.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef