Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

v3.22.1
Stockholders' Equity
3 Months Ended
Mar. 31, 2022
Class of Stock Disclosures [Abstract]  
Stockholders' Equity

Note 14. Stockholders’ Equity

In August 2016, the Company's Board adopted the 2016 Equity Inventive Plan (the 2016 Plan) for employees, directors and consultants. In February 2021, the Board adopted the 2021 Employment Inducement Incentive Award Plan (Inducement Plan), which provides for grants of equity-based awards, of which 300,000 shares were initially reserved under the Inducement Plan. In connection with the NimbeLink acquisition, the Company assumed the NimbeLink Corp 2016 Stock Incentive Plan and stock options to purchase 22,871 shares of common stock issuable thereunder.

The following table presents common stock reserved for future issuance(1) (in thousands):

 

March 31, 2022

 

December 31, 2021

 

Stock option awards issued and outstanding

 

2,175

 

 

2,000

 

Authorized for grants under the 2016 Equity Incentive Plan(2)

 

491

 

 

332

 

Authorized for grants under the Inducement Plan(3)

 

47

 

 

81

 

Authorized for grants under the 2016 Employee Stock Purchase Plan(4)

 

395

 

 

326

 

 

 

3,108

 

 

2,739

 

(1) The table above excludes 541,000 treasury stock shares as of March 31, 2022, and December 31, 2021.

(2) On January 1, 2022, the number of authorized shares in the 2016 Plan increased by 404,000 shares pursuant to the evergreen provisions of the 2016 Plan.

(3) On February 5, 2021, 300,000 shares were authorized pursuant to the terms of the Inducement Plan; 38,000 shares were issued under the Inducement Plan during the three months ended March 31, 2022.

(4) On January 1, 2022, the number of authorized shares in the 2016 Employee Stock Purchase Plan increased by 100,000 shares pursuant to the evergreen provisions of the 2016 Employee Stock Purchase Plan.