NOTE 5 - STOCKHOLDERS' EQUITY

Preferred Stock

Our amended and restated certificate of incorporation authorizes the issuance of up to 10,000,000 shares of preferred stock, $0.001 par value, with rights senior to those of our common stock, issuable in one or more series. Upon issuance, we can determine the rights, preferences, privileges and restrictions thereof. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms and the number of shares constituting any series or the designation of such series, any or all of which may be greater than the rights of common stock.

Common Stock

Our amended and restated certificate of incorporation authorizes the issuance of up to 150,000,000 shares of $0.001 par value common stock.

Equity Incentive Plans

The TG Therapeutics, Inc. Amended and Restated 2012 Incentive Plan (“2012 Incentive Plan”) was approved by stockholders in June 2015. As of March 31, 2016, no options were outstanding and up to an additional 4,150,631 shares may be issued under the 2012 Incentive Plan.

Restricted Stock

Certain employees, directors and consultants have been awarded restricted stock. The restricted stock vesting consists of milestone and time-based vesting. The following table summarizes restricted share activity for the three months ended March 31, 2016:

			Weighted
			Average
			Grant Date
	Number of Shares		Fair Value
Outstanding at December 31, 2015		7,359,915	$	7.83
Granted		14,000		9.43
Vested		(199,499)		8.37
Forfeited		—		—
Outstanding at March 31, 2016		7,174,416	$	7.81

Total expense associated with restricted stock grants was approximately $1.7 million and $5.4 million during the three months ended March 31, 2016 and 2015. As of March 31, 2016, there was approximately $20.8 million of total unrecognized compensation cost related to unvested time-based restricted stock, which is expected to be recognized over a weighted-average period of 2.0 years. This amount does not include, as of March 31, 2016, 411,172 shares of restricted stock outstanding which are milestone-based and vest upon certain corporate milestones; and 2,343,292 shares of restricted stock outstanding issued to non-employees, the expense for which is determined each reporting period at the “measurement date.” The expense is recognized over the vesting period of the award. Until the measurement date is reached, the total amount of compensation expense remains uncertain. We record compensation expense based on the fair value of the award at the reporting date.

Warrants

The following table summarizes warrant activity for the three months ended March 31, 2016:

			Weighted-		Aggregate
			average		Intrinsic
	Warrants		exercise price		Value
Outstanding at December 31, 2015		1,186,749	$	2.37	$	11,341,452
Issued		—		—
Exercised		(9,612)		2.30
Expired		—		—
Outstanding at March 31, 2016		1,177,137	$	2.37	$	7,234,896

Stock-Based Compensation

We did not grant any stock options during the three months ended March 31, 2016 and 2015.

The following table summarizes stock-based compensation expense information about restricted stock for the three months ended March 31, 2016 and 2015, respectively:

	Three months ended		Three months ended
	March 31, 2016		March 31, 2015
Stock-based compensation expense associated with restricted stock	$	1,698,965	$	5,357,028
Stock-based compensation expense associated with option grants		—		—
	$	1,698,965	$	5,357,028