Note 10 - Equity Incentive Plans

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Stock Incentive Plans Disclosure [Text Block]

10. Equity Incentive Plans

2010 Stock Incentive Plan. In February 2011, the Company’s stockholders approved the Gevo, Inc. 2010 Stock Incentive Plan (as amended and restated to date, the "2010 Plan"). The 2010 Plan provided for the grant of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock awards, restricted stock units and other equity awards to employees and directors of the Company. On June 9, 2021, with approval of stockholders at the 2021 Annual Meeting of Stockholders, the 2010 Plan was amended and restated, which increased the number of shares of common stock reserved for issuance under the 2010 Plan to a total of 22,980,074 shares.

Restricted common stock and non-qualified stock option activity during the nine months ended September 30, 2021 consisted of the following:

Period	Total Number of Restricted Shares Issued			Total Number of Non-qualified Stock Options Granted		Vesting Periods Years
January 1, 2021 to March 31, 2021	(121,499	)	(1)	—			N/A
April 1, 2021 to June 30, 2021	(89,673	)	(2)(3)	—		0	to	4
July 1, 2021 to September 30, 2021	3,915,502		(2)(4)(6)	4,668,727	(5)(7)	2	to	3
Total	3,704,330			4,668,727

(1)	Includes shares of common stock cancelled related to the unvested restricted stock awards of a director and an employee who resigned.
(2)	Includes shares withheld from employees to cover tax withholding obligations upon the vesting of restricted stock awards.
(3)	Includes restricted stock awards granted to employees April 7, 2021, May 3, 2021, and June 7, 2021.
(4)	Includes restricted stock awards granted to employees and directors on August 20, 2021.
(5)	Includes non-qualified stock options granted to employees and directors on August 20, 2021.
(6)	Includes shares of common stock cancelled related to the unvested restricted stock awards of certain employees.
(7)	Includes non-qualified stock options cancelled related to the unvested option awards granted to an employee.

At September 30, 2021, 8,857,302 shares remained available for awards under the 2010 Plan.

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 September 30, 2021 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 the nine months ended September 30, 2021 or 2020.