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SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
On April 1, 2024, on the approval and recommendation of the Compensation Committee of the Board of Directors of the Company, the Board of Directors of the Company approved (1) a first amendment to the Vertex Energy, Inc. Amended and Restated 2020 Equity Incentive Plan (the “2020 Plan”), to amend the 2020 Plan to allow for the grant of Restricted Stock Units (RSUs); previously the 2020 Plan allowed for the grant of Restricted Stock Shares, but not RSUs and the First Amendment updates the 2020 Plan to allow for the grant of RSUs; and (2) an increase in the number of shares available for future issuance under the 2020 Plan by 3,740,573 shares, to 5,240,574 shares, which represents 4% of the Company’s total outstanding shares of common stock as of December 31, 2023 (93,514,346 shares), pursuant to the terms of the 2020 Plan.
On April 15, 2024, the Company paid $2.1 million principal and $8.5 million interest with respect to the Term Loan according to the limited consent that was signed on March 28, 2024.