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STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Expense
Stock-based compensation related to all stock-based incentive plans is presented in the following table:
Three Months Ended
June 30,		Six Months Ended
June 30,
2022202120222021
Components of stock-based compensation:
Stock-based compensation$1,591,231 $611,808 $2,356,086 $1,018,296 
Stock-based compensation forfeitures— — (850,763)— 
Stock-based compensation, net of forfeitures
$1,591,231 $611,808 $1,505,323 $1,018,296 
Presentation of stock-based compensation in the consolidated financial statements:
Exploration and mine development costs$219,939 $262,794 $2,000 $393,941 
General and administrative expenses1,290,732 349,014 1,380,905 624,355 
Stock-based compensation expense, net of forfeitures(1)
1,510,671 611,808 1,382,905 1,018,296 
Capitalized stock-based compensation(2)
80,560 — 122,418 — 
Stock-based compensation, net of forfeitures
$1,591,231 $611,808 $1,505,323 $1,018,296 
__________________________
(1)For the three and six months ended June 30, 2022 and 2021, we did not reflect a tax benefit associated with stock-based compensation expense in the consolidated statements of operations because we had a full tax valuation allowance during these periods. As such, the table above does not reflect the tax impacts of stock-based compensation expense.
(2)Capitalized stock-based compensation relates to direct labor costs associated with our Carolina Lithium Project and are included in “Property, plant and mine development, net” in our consolidated balance sheets.
Share-Based Payment Arrangement, Activity
A summary of activity relating to our share-based awards was as follows:
20222021
Stock Option AwardsRestricted Stock UnitsPerformance Rights AwardsStock Option AwardsRestricted Stock UnitsPerformance Rights Awards
January 1272,504 51,277 30,000 443,694 — 65,000 
Granted135,957 17,437 29,120 50,000 — — 
Exercised, surrendered or vested(15,000)(14,285)— (18,906)— — 
Forfeited or expired(19,458)(17,209)— — — — 
March 31374,003 37,220 59,120 474,788 — 65,000 
Granted58,949 7,972 10,348 33,004 36,745 — 
Exercised, surrendered or vested(37,500)(9,219)— (115,288)— (5,000)
Forfeited or expired(719)— — — — — 
June 30394,733 35,973 69,468 392,504 36,745 60,000