In February 2021, Greenidge adopted an equity incentive plan and reserved 3,831,112 shares of common stock for issuance under the plan (the “2021 Equity Plan”).

During the three and six months ended June 30, 2021, the Company awarded 0 and 616,920 restricted common stock units (“RSUs”), respectively, under the 2021 Equity Plan to directors, which are generally eligible to vest over a three-year period.

The Company’s unvested restricted common stock unit awards activity for the six months ended June 30, 2021 is summarized below:


			Weighted Average
			Grant Date
	RSUs		Fair Value
Unvested at December 31, 2020		-	$	-
Granted		616,920		6.25
Unvested at June 30, 2021		616,920		6.25

The value of RSU grants is measured based on their fair market value on the date of grant and amortized over their requisite service periods. During the six months ended June 30, 2021, the fair market value of the awards granted totaled $3,856 and as of June 30, 2021, there was approximately $3,427 of total unrecognized compensation cost related to unvested restricted stock rights, which is expected to be recognized over a remaining weighted-average vesting period of approximately 3 years.

The Company’s stock options activity for the six months ended June 30, 2021 is summarized below:


						Weighted Average
				Weighted Average		Remaining
				Exercise Price		Contractual Life
	Options			Per Share		(in years)
Outstanding at December 31, 2020		-		$	-		-
Granted		716,968			6.01		10.00
Exercised		(160,000	)		6.25		0.10
Forfeited		(6,000	)		6.25		9.70
Outstanding at June 30, 2020		550,968			6.01		9.68
Options vested and expected to vest as of June 30, 2021		550,968			6.01		9.68
Options vested and exercisable as of June 30, 2021		257,484		$	5.80		9.64

The value of common stock option grants is measured based on their fair market value on the date of grant and amortized over their requisite service periods. During the six months ended June 30, 2021, the fair market value of the awards granted totaled $1,151 and as of June 30, 2021, there was approximately $438 of total unrecognized compensation cost related to unvested options, which is expected to be recognized over a remaining weighted-average vesting period of approximately 1.2 years.

The intrinsic value of options exercised during the three and six months ended June 30, 2021 was immaterial.

The weighted average assumptions relating to the valuation of stock options granted for the six months ended June 30, 2021 were as follows:

Weighted Average Assumptions:


Weighted Average fair value of grants	$	1.60
Expected volatility		35	%
Expected term (years)		4.5
Risk-free interest rate		0.4	%
Expected dividend yield		0.0	%

The Company recognized stock-based compensation expense of $406 and $1,063 within selling, general and administrative expenses during the three and six months ended June 30, 2021. No stock-based compensation expense was recognized during the three and six months ended June 30, 2020.