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Stock-Based Compensation
6 Months Ended
Jun. 30, 2024
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 months ended June 30, 2024, the Company granted RSUs of 1,100,000 to employeesThe RSU’s vest over a period of three years and were issued with a weighted average fair value of $4.59 per share. During the three and six months 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.

During the three and six months ended June 30, 2024, a total of 12,000 RSUs vested, and shares were issued with an intrinsic value of $0.1 million, and a fair value of $0.1 million.  No RSUs vested during the three and six months ended June 30, 2023.

 During the six months ended June 30, 2024, stock options to purchase an aggregate of 76,667 of the Company’s common stock were exercised at a weighted average exercise price of $1.00 per share. 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, 2024 and 2023.

Stock-based compensation is included in general and administrative expenses in the accompanying Condensed Consolidated Statements of Operations. Stock-based compensation expense for stock options and RSUs is as follows:

Three months ended June 30, 

Six months ended June 30, 

    

2024

    

2023

    

2024

    

2023

(in thousands)

(in thousands)

Stock options

$

9

$

47

$

42

$

96

Restricted stock units

237

7

258

7

Total

$

246

$

54

$

300

$

103