Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Stock-Based Compensation

Schedule of Stock-based Compensation Expense

The following table sets forth the Company’s equity classified stock-based compensation expense for the periods indicated (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Cost of production	$	16	$	25	$	47	$	37
General and administrative		3,113		4,239		10,772		11,480
Other operating expenses		657		(132)		1,666		1,235
Total stock-based compensation	$	3,786	$	4,132	$	12,485	$	12,752

Schedule Stock Option Award Activity

Stock option activity under the Company’s stock incentive plans and changes during the nine months ended September 30, 2024, were as follows:

				Weighted-
				Average
		Weighted-		Remaining		Weighted-
		Average		Contractual		Average		Aggregate
	Number of	Exercise		Term		Grant-Date		Intrinsic
	Options	Price (1)		(years)		Fair Value		Value
Options outstanding at December 31, 2023	8,109,123	$	3.51		8.8	$	2.96	$	—
Granted	6,538,646	$	0.70			$	0.62	$	—
Forfeited and expired	(248,977)	$	2.18			$	1.99	$	—
Exercised	—	$	—			$	—	$	—
Options outstanding at September 30, 2024	14,398,792	$	2.26		8.8	$	1.92	$	—
Options vested and expected to vest at September 30, 2024	14,398,792	$	2.26		8.8	$	1.92	$	—

(1) Exercise price of options outstanding ranges from $0.67 to $876 as of September 30, 2024. The higher end of the range is due to the impact of several reverse stock splits during the years 2015 to 2018.

Schedule of Non-vested Restricted Stock Awards

The Company periodically grants restricted stock awards to employees and directors. The vesting period for restricted stock awards granted may be based upon a service period or based upon the attainment of performance objectives. The Company recognizes stock-based compensation over the vesting period, which for awards that vest based on a service period is generally two to three years.

		Weighted-
		Average
	Number of	Grant-Date
	Shares	Fair Value
Outstanding at December 31, 2023	6,159,341	$	2.30
Granted	5,674,401	$	0.74
Vested and issued	(3,409,285)	$	4.55
Forfeited and expired	(202,677)	$	1.68
Non-vested at September 30, 2024	8,221,780	$	1.08