Subsequent Events

12 Months Ended

Dec. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On January 7, 2020, the Company granted options to employees to purchase 78,800 shares of the Company’s Common Stock at an exercise price of $13.60 per share, which represents the per share closing price of the Company’s Common Stock on the dates of grant. These options were issued under the 2017 Plan and have a ten year term. The options vest as follows: 1/48th of the option shares vest every month on the anniversary of the grant date.

On January 7, 2020, the Company also issued restricted common shares to certain employees for 26,600 shares of the Company’s Common Stock. The price of the Company's common stock on the date of issuance was $13.60 per share. The restricted stock options (RSU) were issued under the 2017 Plan. The RSU's vest 25% each year for the next four years on the anniversary of the grant date.

From January 1 through March 2, 2020, the Company issued a total of 52,157 shares of Common Stock in connection with stock option and stock warrant exercises. As a result of the stock option and warrant exercises, the Company received aggregate proceeds of $490,000.