Stock-based Compensation

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

The Company has various stock compensation plans, which are more fully described in Part II, Item 8 "Financial Statements and Supplementary Data - Note 8 to the Consolidated Financial Statements - Share-based Compensation" in the 2023 Annual Report on Form 10-K.

Under the 2021 Incentive Award Plan, the Company has the ability to grant options, stock appreciation rights, restricted stock, restricted stock units (“RSU”), performance stock units (“PRSU”), dividend equivalents, or other stock or cash-based awards to employees, directors, or consultants. Option awards are generally granted with an exercise price equal to the fair value of the Company’s common stock at the date of grant. Options, RSU, and PRSU awards generally vest over a period of four years.

Stock-based Compensation Expense

Total stock-based compensation was recognized as follows (in thousands):


	Three Months Ended March 31,
	2024		2023
General and administrative	$	1,283	$	1,436
Sales and marketing	344		492
Research and development	600		861
Total stock-based compensation	$	2,227	$	2,789

There was no stock-based compensation capitalized during the three months ended March 31, 2024 or 2023.

As of March 31, 2024, the Company had $717 of unrecognized stock-based compensation costs related to non-vested options that will be recognized over a weighted-average period of 0.7 years, $8,152 of unrecognized stock-based compensation costs related to unvested RSUs that will be recognized over a weighted-average period of 1.9 years, and $369 of unrecognized stock-based compensation costs related to unvested PRSUs that will be recognized over a weighted-average period of 1.5 years.