Note 10 - Equity Incentive Plans

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Stock Incentive Plans Disclosure [Text Block]

 

10.

Equity Incentive Plans

2006

Omnibus Securities and Incentive Plan

. During

2006,

the Company established the Gevo, Inc.

2006

Omnibus Securities and Incentive Plan (the

“2006

Plan”). Pursuant to the

2006

Plan, the Company granted stock awards to employees and directors of the Company. Upon adoption of the Gevo, Inc.

2010

Stock Incentive Plan (as amended and restated, the

“2010

Plan”),

no

further grants can be made under the

2006

Plan. At

December 31, 2018,

there were

no

remaining shares available for future grants of stock awards. To the extent outstanding awards under the

2006

Plan expire, or are forfeited, cancelled, settled, or become unexercisable without the issuance of shares, the shares of common stock subject to such awards will be available for future issuance under the

2010

 Plan.

2010

Stock Incentive Plan

. In

February 2011,

the Company’s stockholders approved the

2010

Plan, which was subsequently amended in

June 2013,

and amended and restated in

July 2015,

June 2016,

November 2016

and

May 2018,

and provides for the grant of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and other equity awards to employees and directors of the Company. Stock options granted under the

2010

Plan have an exercise price that is at least equal to the fair market value of the Company’s common stock on the date the stock option is granted and expire

ten

years after the date of grant. At

December 31, 2018,

a total of

290,300

 shares of Gevo common stock were reserved for issuance upon the exercise of outstanding stock option awards under the

2010

Plan, and an additional

2,630

shares were available for grant.

Employee Stock Purchase Plan

. In

February 2011,

the Company’s stockholders approved the Employee Stock Purchase Plan (the "ESPP"). The offering periods for the ESPP are from

January 

1

to

June 

30

and from

July 

1

to

December 

31

of each calendar year. The Company has reserved

190

 shares of common stock for issuance under the ESPP, of which

190

 shares as of

December 31, 2018 

are available for future issuance. The purchase price of the common stock under the ESPP is

85%

of the lower of the fair market value of a share of common stock on the

first

or last day of the purchase period. There were

no

purchases of common stock under the ESPP during

2018.