Employee Stock Compensation Plans	6 Months Ended
Jun. 30, 2021
Employee Stock Compensation Plans
11. Employee Stock Compensation Plans	11. Employee Stock Compensation Plans On June 18, 2013, Solitario’s shareholders approved the 2013 Solitario Exploration & Royalty Corp. Omnibus Stock and Incentive Plan, as amended (the “2013 Plan”). Under the terms of the 2013 Plan, a total of 5,750,000 shares of Solitario common stock are reserved for awards to directors, officers, employees and consultants. Awards granted under the 2013 Plan may take the form of stock options, stock appreciation rights, restricted stock, and restricted stock units. The terms and conditions of the awards are pursuant to the 2013 Plan and are granted by the Board of Directors of the Company (the “Board of Directors”) or a committee appointed by the Board of Directors. As of June 30, 2021, and December 31, 2020, there were options outstanding that are exercisable to acquire 5,513,000 and 5,558,000 shares, respectively, of Solitario common stock, with exercise prices between $0.20 and $0.77 per share. All of the options have a five-year term and vest 25% on the date of grant and 25% on each of the next three anniversary dates. Solitario amortizes grant date fair value on a straight-line basis over the vesting period. During the three and six months ended June 30, 2021, Solitario granted 140,000 options with an average exercise price of $0.68 per share, a five-year term and a grant date fair value of $58,000 based upon a Black-Scholes model, with a 76% volatility and a 0.9% risk-free interest rate. During the six months ended June 30, 2020, Solitario granted 1,325,000 options with an exercise price of $0.20 per share, a five-year term and a grant date fair value of $145,000 based upon a Black-Scholes model, with a 66% volatility and a 0.4% risk-free interest rate. During the three and six months ended June 30, 2021, options for 64,750 and 185,000 shares, respectively, were exercised with an average exercise price of $0.25 and $0.45 per share, respectively, for proceeds of $16,000 and $83,000, respectively. There were no exercises of options under the 2013 Plan during the three and six months ended June 30, 2020. During the three and six months ended June 30, 2021, Solitario recorded stock option compensation expense of $44,000 and $72,000, respectively. During the three and six months ended June 30, 2020, Solitario recorded stock option compensation expense of $130,000 and $215,000, respectively. At June 30, 2021, the total unrecognized stock option compensation cost related to non-vested options was $132,000 and is expected to be recognized over a weighted average period of 22 months.

Employee Stock Compensation Plans

6 Months Ended

Jun. 30, 2021

11. Employee Stock Compensation Plans

On June 18, 2013, Solitario’s shareholders approved the 2013 Solitario Exploration & Royalty Corp. Omnibus Stock and Incentive Plan, as amended (the “2013 Plan”). Under the terms of the 2013 Plan, a total of 5,750,000 shares of Solitario common stock are reserved for awards to directors, officers, employees and consultants. Awards granted under the 2013 Plan may take the form of stock options, stock appreciation rights, restricted stock, and restricted stock units. The terms and conditions of the awards are pursuant to the 2013 Plan and are granted by the Board of Directors of the Company (the “Board of Directors”) or a committee appointed by the Board of Directors.

As of June 30, 2021, and December 31, 2020, there were options outstanding that are exercisable to acquire 5,513,000 and 5,558,000 shares, respectively, of Solitario common stock, with exercise prices between $0.20 and $0.77 per share. All of the options have a five-year term and vest 25% on the date of grant and 25% on each of the next three anniversary dates. Solitario amortizes grant date fair value on a straight-line basis over the vesting period. During the three and six months ended June 30, 2021, Solitario granted 140,000 options with an average exercise price of $0.68 per share, a five-year term and a grant date fair value of $58,000 based upon a Black-Scholes model, with a 76% volatility and a 0.9% risk-free interest rate. During the six months ended June 30, 2020, Solitario granted 1,325,000 options with an exercise price of $0.20 per share, a five-year term and a grant date fair value of $145,000 based upon a Black-Scholes model, with a 66% volatility and a 0.4% risk-free interest rate. During the three and six months ended June 30, 2021, options for 64,750 and 185,000 shares, respectively, were exercised with an average exercise price of $0.25 and $0.45 per share, respectively, for proceeds of $16,000 and $83,000, respectively. There were no exercises of options under the 2013 Plan during the three and six months ended June 30, 2020. During the three and six months ended June 30, 2021, Solitario recorded stock option compensation expense of $44,000 and $72,000, respectively. During the three and six months ended June 30, 2020, Solitario recorded stock option compensation expense of $130,000 and $215,000, respectively. At June 30, 2021, the total unrecognized stock option compensation cost related to non-vested options was $132,000 and is expected to be recognized over a weighted average period of 22 months.