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Stock-Based Compensation
6 Months Ended
Jun. 30, 2023
Stock-Based Compensation  
Stock-Based Compensation

15. Stock-Based Compensation

The Fortitude Gold Corporation 2020 Equity Incentive Plan (the “Incentive Plan”) allows for the issuance of up to 5 million shares of common stock in the form of incentive and non-qualified stock options, stock appreciation rights, restricted stock units (“RSUs”), stock grants, and stock units. The Company utilizes this Incentive Plan to attract, retain and incentivize staff.

During the three and six month ended June 30, 2023, the Company granted RSUs of 36,000 to employeesThe RSU’s vest over a period of three years and were issued with a weighted average fair value of $7 per share. No RSUs were granted during the three and six months ended June 30, 2022.

During the six months ended June 30, 2022, the Company issued options to purchase 30,000 shares of its common stock to employees. The options vest over a period of three years.  The Company used the Black-Scholes option valuation model to value the options with the following weighted average assumptions: stock price of $7.06, expected term of 3.5 years, risk free rate of 2.06%, expected volatility of 75.87%, and an assumed dividend rate of 7.25%. No options were issued during the three months ended June 30, 2022. No options were issued during the three and six months ended June 30, 2023.

 During the six months ended June 30, 2023, stock options to purchase an aggregate of 60,000 of the Company’s common stock were exercised at a weighted average exercise price of $1.00 per share. No stock options were exercised during the three months ended June 30, 2023. During the six months ended June 30, 2022, stock options to purchase an aggregate of 63,334 of the Company’s common stock were exercised at a weighted average exercise price of $1.00 per share. No stock options were exercised during the three months ended June 30, 2022.

Stock-based compensation is included in general and administrative expenses in the accompanying Condensed Consolidated Statements of Operations. For the three and six months ended June 30, 2023 the Company recorded $0.05 million and $0.1 million, respectively, of stock-based compensation. For the three and six months ended June 30, 2022 the Company recorded $0.05 million and $0.1 million, respectively, of stock-based compensation.