Stock-Based Compensation |
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation | . Stock-Based Compensation Stock Incentive Plan As of March 31, 2022, the Company had 2,548,834 shares of its common stock available for future issuance under its stock incentive plan. Stock Options The Company’s stock options generally vest over 48 months with 25% vesting after one year followed by ratable monthly vesting over the remaining three years and have a contractual term of 10 years. The weighted-average assumptions used principally in determining the fair value of options granted were as follows:
During the three months ended March 31, 2022 and 2021, the Company granted stock options to purchase 1,818,298 shares and 394,934 shares of its common stock, respectively, with a weighted-average grant-date fair value of $5.84 and $15.27 per share, respectively. As of March 31, 2022, total unrecognized compensation expense related to stock options was $20.9 million, which is expected to be recognized over a weighted-average period of 2.84 years. As of March 31, 2022, options for 165,348 shares of Company common stock with a weighted average exercise price of $1.97 were exercised and unvested. The underlying proceeds from the unvested exercises of $0.3 million is recorded in other current liabilities on the condensed consolidated balance sheet. Stock-Based Compensation Stock-based compensation expense was allocated as follows:
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