STOCK-BASED COMPENSATION

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

Stock-based compensation is included in Selling, general and administrative expense on our Unaudited Condensed Consolidated Statements of Operations and was as follows:

	Three months ended September 30,				Nine months ended September 30,
(In thousands)	2023		2022		2023		2022
Stock-based compensation	$	428	$	831	$	2,067	$	2,083

Unrecognized Stock-Based Compensation

At September 30, 2023 the total unrecognized stock-based compensation was $0.1 thousand which is expected to be recognized over a weighted average period of 1.7 years.

2018 Long-Term Equity Incentive Plan

Our 2018 Long-Term Equity Incentive Plan, as amended (the “2018 Plan”) provides for awards of options, stock appreciation rights, restricted stock, restricted stock units, warrants or other securities which may be convertible, exercisable or exchangeable for or into our common stock. As of September 30, 2023, there were 1,607,915 shares of common stock available to be issued under the 2018 Plan.

Stock Options

Stock option activity was as follows:

	Shares Underlying Options	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (In Thousands)
Options outstanding at December 31, 2022	1,052,093	$	12.34	2.26	$	(427)
Granted	94,326	12.38
Cancelled or terminated	(507,918)	14.38
Exercised	(169,061)	8.07
Options outstanding at September 30, 2023	469,440	11.38		1.84	$	(1,776)
Options vested at September 30, 2023	395,086	11.05		1.39	$	(1,364)
Options vested as of September 30, 2023 and expected to vest after September 30, 2023	469,440

Restricted Stock Units

Restricted stock unit activity was as follows:

	Number of Restricted Stock Units(1)	Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2022	207,822	$	14.98
Granted	322,113	12.44
Vested	(81,855)	16.43
Forfeited	(67,694)	12.27
Outstanding at September 30, 2023	380,386	12.99

(1) Includes inducement awards approved by the Compensation Committee of the Company’s Board of Directors.

PIPE Warrants

PIPE warrant activity was as follows:

	Shares Underlying Warrants	Weighted Average Exercise Price
Warrants outstanding December 31, 2022	2,865,068	$	11.50
Cancelled or Expired	(208,912)	11.50
Exercised	(2,656,156)	11.50
Warrants outstanding September 30, 2023	—	—

Prefunded Warrants

As of September 30, 2023, there were 300,357 perpetual non-redeemable prefunded warrants outstanding with an exercise price of $0.01 per share. There was no activity during the three and nine months ended September 30, 2023.