Schedule of Stock Option Activity |
The following tables summarize the options issued, outstanding, and exercisable under our equity based compensation plans as of December 31, 2023 and 2022:
| | | | | | | | | | | | | | | | For the year ended December 31, 2023 | | Number of Options* | Weighted Average Exercise Price* | Intrinsic Value | Weighted Average Remaining Life | Outstanding, beginning of year | 296,650 | | $ | 59.28 | | $ | 686,035 | | 6.14 | Granted | — | | — | | — | | — | | Exercised | (16,343) | | 1.90 | | 203,269 | | — | | Canceled | (26,601) | | 72.85 | | — | | — | | Outstanding, end of year | 253,706 | | 62.01 | | 1,146,614 | | 5.85 | Exercisable, end of year | 232,041 | | 56.42 | | 1,139,545 | | 5.72 | Expected to vest, end of year | 21,665 | | $ | 121.85 | | $ | 7,069 | | 7.30 |
| | | | | | | | | | | | | | | | For the year ended December 31, 2022 | | Number of Options* | Weighted Average Exercise Price* | Intrinsic Value | Weighted Average Remaining Life | Outstanding, beginning of year | 557,785 | | $ | 66.12 | | $ | 23,079,520 | | 7.76 | Granted | 10,405 | | 27.74 | | — | | — | | Exercised | (79,724) | | 6.08 | | 2,383,405 | | — | | Canceled | (191,816) | | 98.42 | | — | | — | | Outstanding, end of year | 296,650 | | 59.28 | | 686,035 | | 6.14 | Exercisable, end of year | 254,118 | | 49.40 | | 685,914 | | 5.89 | Expected to vest, end of year | 42,532 | | $ | 117.80 | | $ | 121 | | 7.61 |
*Effective May 11, 2023, we performed a 1-for-38 reverse stock split. Share amounts have been retroactively restated.
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Schedule of Weighted-average Assumptions used in the Black-Scholes Option Pricing Model |
The following table represents the assumptions used for estimating the fair values of stock options granted to our employees, contractors, and non-employees under the Black-Scholes valuation model. The risk-free interest rate is based on the U.S. Treasury yield curve in effect on the grant date:
| | | | | | | | | | 2023 | 2022 | Risk-free interest rate | 0.00%–0.00% | 3.46%–3.91% | Expected volatility | 0.00%–0.00% | 115.75%–116.01% | Expected life (in years) | 0.00 | 6.00 | Weighted average estimated fair value of options granted | $ | — | | $ | 27.74 | |
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Schedule of Restricted Stock Awards and Restricted Stock Units |
Restricted stock award and restricted stock unit transactions during the years ended December 31, 2023 and 2022 are summarized as follows:
| | | | | | | | | | | | | | | | | | | For the year ended December 31, 2023 | | For the year ended December 31, 2022 | | Number of Shares* | Weighted Average Grant Date Fair Value* | | Number of Shares* | Weighted Average Grant Date Fair Value* | Unvested shares, beginning of year | 342,940 | | $ | 30.02 | | | 153,242 | | $ | 160.36 | | Granted | 356,679 | | 18.00 | | | 400,363 | | 22.42 | | Vested | (293,878) | | 25.09 | | | (36,537) | | 144.78 | | Forfeited or surrendered | (49,138) | | 35.35 | | | (174,128) | | 104.12 | | Unvested shares, end of year | 356,603 | | $ | 21.32 | | | 342,940 | | $ | 30.02 | |
*Effective May 11, 2023, we performed a 1-for-38 reverse stock split. Share amounts have been retroactively restated.
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Schedule of Restricted Stock Awards and Restricted Stock Units |
Restricted stock award and restricted stock unit transactions during the years ended December 31, 2023 and 2022 are summarized as follows:
| | | | | | | | | | | | | | | | | | | For the year ended December 31, 2023 | | For the year ended December 31, 2022 | | Number of Shares* | Weighted Average Grant Date Fair Value* | | Number of Shares* | Weighted Average Grant Date Fair Value* | Unvested shares, beginning of year | 342,940 | | $ | 30.02 | | | 153,242 | | $ | 160.36 | | Granted | 356,679 | | 18.00 | | | 400,363 | | 22.42 | | Vested | (293,878) | | 25.09 | | | (36,537) | | 144.78 | | Forfeited or surrendered | (49,138) | | 35.35 | | | (174,128) | | 104.12 | | Unvested shares, end of year | 356,603 | | $ | 21.32 | | | 342,940 | | $ | 30.02 | |
*Effective May 11, 2023, we performed a 1-for-38 reverse stock split. Share amounts have been retroactively restated.
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