Stock Options

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

9. Stock Options

Stock Options

The Company’s 2014 equity incentive plan, adopted by the Board of Directors on June 30, 2014 (the “Plan”), provides for the grants of equity awards, including incentive stock options, non-statutory stock options, and restricted stock unit awards. On July 15, 2021, upon the closing of the Merger (Note 2), the number of equity awards issued and available for grant were converted pursuant to the conversion ratio of approximately 2.053. As of September 30, 2021 there were 3,150,463 shares available for grant under the Plan.

The following table sets forth the outstanding common stock options and related activity for the nine months ended September 30, 2021:


	Number of Options			Weighted Average Exercise Prices		Weighted Average Remaining Contractual Terms (years)		Aggregate Intrinsic Values
Balance as of December 31, 2020		10,215,834		$	0.45		7.29	$	99,296
Granted		1,736,755			7.13
Exercised		(526,819	)		0.66				1,537
Canceled		(1,735,341	)		0.66
Expired		(7,560	)		0.12
Balance as of September 30, 2021		9,682,869		$	1.60		6.94	$	41,252
Options vested and exercisable as of September 30, 2021		6,325,893		$	0.56		5.97	$	32,158

Stock-based compensation was as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
General and administrative	$	347	$	50	$	1,095	$	150
Sales and marketing		127		112		489		312
Research and development		223		86		726		240
Total stock-based compensation	$	697	$	248	$	2,310	$	702

As of September 30, 2021, the Company had $7,105 of unrecognized stock-based compensation costs related to non-vested awards that will be recognized over a weighted-average period of 2.91 years.