v3.26.1
Stock-Based Compensation
 3 Months Ended
Mar. 31, 2026
Stock-Based Compensation [Abstract]  
STOCK-BASED COMPENSATION

9. STOCK-BASED COMPENSATION

 

As of March 31, 2026, there were 3,795,494 shares available for the grant of awards under the Company’s 2023 Long Term Incentive Plan (the “2023 Plan”).

 

Restricted Stock Units

 

A summary of RSU activities for the three months ended March 31, 2026 are presented below:

 

   Number of
Shares		   Weighted
Average
Grant Date
Fair Value
per Share		 
Nonvested as of January 1, 2026   9,700   $0.45 
Granted   
-
   $
-
 
Vested   
-
   $
-
 
Forfeited   
-
   $
-
 
Nonvested as of March 31, 2026   9,700   $0.45 

 

As of March 31, 2026, total unrecognized compensation expense related to restricted stock units was $1.2 thousand, which is expected to be recognized over a weighted-average period of 0.04 years.

 

Stock Options

 

A summary of stock options activity for the three months ended March 31, 2026 is presented below:

 

   Stock
Options		   Weighted
Average
Exercise
Price		   Weighted
Average
Remaining
Contractual
Life
(in years)		   Aggregate
Intrinsic Value
(in thousands)		 
Outstanding at January 1, 2026   3,857,138   $1.84   6.1   544 
Options granted   
-
   $
-
         
Options forfeited   (64,810)  $1.83         
Options cancelled   
-
   $
-
         
Options exercised   (150,000)  $1.04         
Outstanding as of March 31, 2026   3,642,328   $1.87   5.9   571 
Options vested and exercisable as of March 31, 2026   2,951,221   $1.94   5.2   440 

The Company did not grant any stock options during the three months ended March 31, 2026. As of March 31, 2026, total unrecognized compensation expense related to stock options was $0.3 million, which is expected to be recognized over a weighted-average period of 0.9 years.

 

The Company recorded stock-based compensation expense for stock options and RSUs of $183 thousand and $200 thousand for the three months ended March 31, 2026 and March 31, 2025, respectively, in general and administrative expenses in the condensed consolidated statements of operations.