Common Stock

6 Months Ended

Jun. 30, 2021

As of June 30, 2021 and December 31, 2020, the Company was authorized to issue 300,000,000 shares of common stock at a par value of $0.0001 per share. The common stock has the following rights and privileges:

Voting

The holders of shares of common stock are entitled to one vote for each share of common stock held at any meeting of stockholders and at the time of any written action in lieu of a meeting.

Dividends

The holders of shares of common stock are entitled to receive dividends, when declared by the Company’s board of directors. Cash dividends may not be declared or paid to holders of shares of common stock until all unpaid dividends on preferred stock have been paid in accordance with their terms. No dividends have been declared or paid by the Company since its inception.

Liquidation

Subject to the preferential rights of holders of preferred stock then outstanding, 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.

Shares reserved for future issuance


	As of June 30, 2021	As of December 31, 2020
Exercises of outstanding stock option awards	3,842,588	2,993,855
Shares of common stock available for future grants under the 2020 Equity Incentive Plan	4,265,311	3,644,459
Shares of common stock available for future issuance under the 2020 ESPP	640,234	700,000
Total shares reserved for future issuance	8,748,133	7,338,314