Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.24.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Options Activity

The following summarizes activity related to the Company's stock options (in thousands, except per share data):

 

 

Number of
Shares

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contract
Term (in
years)

 

 

Aggregate
Intrinsic
Value

 

Outstanding - December 31, 2022

 

 

19,831

 

 

$

0.46

 

 

 

3.5

 

 

$

—

 

Granted

 

 

7,950

 

 

 

0.04

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Forfeited

 

 

(3,346

)

 

 

0.46

 

 

 

—

 

 

 

—

 

Outstanding - December 31, 2023

 

 

24,435

 

 

 

0.32

 

 

 

4.4

 

 

 

6

 

Exercisable - December 31, 2023

 

 

18,125

 

 

 

0.42

 

 

 

2.7

 

 

 

3

 

Vested or expected to vest - December 31, 2023

 

 

24,435

 

 

$

0.32

 

 

 

4.4

 

 

$

6

 
Summary of Weighted-Average Assumptions Used to Estimate Fair Value

The following table presents the weighted average grant date fair value of stock options granted and the weighted-average assumptions used to estimate the fair value on the date of grant using the Black-Scholes valuation model:

 

 

For the years ended December 31,

 

 

2023

 

 

2022

 

Volatility

 

 

132.1

%

 

 

123.5

%

Risk-Free Interest Rate

 

 

3.9

%

 

 

3.6

%

Expected Term (in years)

 

 

5.75

 

 

 

5.52

 

Dividend Rate

 

 

0.0

%

 

 

0.0

%

Fair Value Per Share on Grant Date

 

$

0.04

 

 

$

0.03