9. Common stock

As of December 31, 2018 and 2017, the Company had authorized 120,000,000 shares of common stock, at $0.001 par value per share.

General

The voting, dividend and liquidation rights of the holders of the common stock are subject to and qualified by the rights, powers and preferences of the holders of preferred stock. The common stock has the following characteristics:

Voting

The holders of shares of common stock are entitled to one vote for each share of common stock held at all meetings of stockholders and written actions in lieu of meetings.

Dividends

The holders of shares of common stock are entitled to receive dividends, if and when declared by the Board of Directors. No dividends have been declared or paid by the Company since its inception.

Liquidation

The holders of shares of common stock are entitled to share ratably in the Company’s remaining assets available for distribution to its stockholders in the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company or upon occurrence of a deemed liquidation event.

Shares Reserved For Future Issuance


	As of December 31,
	2018	2017
Shares reserved for vesting of restricted stock awards under the Founder Agreements	235,294	366,914
Shares reserved for vesting of restricted stock awards under the 2014 Option and Stock Plan	—	191,065
Shares reserved for exercise of outstanding stock options	4,225,152	3,143,566
Shares reserved for issuances under the 2015 Stock Option Plan	1,973,227	1,501,005
Shares reserved for issuances under the 2015 Employee Stock Purchase Plan	963,386	730,860
	7,397,059	5,933,410