STOCK-BASED COMPENSATION

9 Months Ended

Sep. 30, 2013

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

8. STOCK-BASED COMPENSATION

All options are granted under the ANI Pharmaceuticals, Inc. Amended and Restated 2008 Stock Incentive Plan (the “2008 Plan”). As of September 30, 2013, 185,490 shares of the Company’s common stock remained available for issuance under the 2008 Plan.

On July 12, 2013, the Company’s Board of Directors approved grants of stock options to employees under the 2008 Plan, subject to shareholder approval of an increase in the total shares available for issuance under the 2008 Plan. As of September 30, 2013, the Company had 326,424 common stock options outstanding pending shareholder approval. Expense related to these stock options will begin to be recognized upon shareholder approval.

During the three and nine month periods ended September 30, 2013, the Company granted 20,832 options to board members under the 2008 Plan. Total expense related to these options was $2,951 during the three and nine month periods ended September 30, 2013. No options expired or were exercised during the three month periods ended September 30, 2013. Options to purchase an aggregate 67,093 shares of the Company’s common stock expired and were cancelled during the nine month period ended September 30, 2013. No options were exercised during the nine month period ended September 30, 2013.

No warrants were granted or exercised during the three and nine month periods ended September 30, 2013. During the nine month period ended September 30, 2013, 8,333 warrants expired. No warrants expired during the three month period ended September 30, 2013.