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Stock Based Compensation
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Stock Based Compensation Stock Based Compensation
2019 Equity Incentive Plan

In December 2019, the Oblong, Inc. 2019 Equity Incentive Plan (the “2019 Plan”) was approved by the Company’s stockholders at the Company’s 2019 Annual Meeting of Stockholders. The 2019 Plan is an omnibus equity incentive plan pursuant to which the Company may grant equity and cash incentive awards to certain key service providers of the Company and its subsidiaries. As of December 31, 2023, the share pool available for new grants under the 2019 Plan is 3 shares.

A summary of stock compensation expense by category, for the years ended December 31, 2023 and 2022, is as follows:

Year Ended December 31,
Stock Based Compensation20232022
Options$124 $61 
RSUs380 — 
Total$504 $61 

A summary of stock compensation by department, for the years ended December 31, 2023 and 2022 is as follows:

Year Ended December 31,
Stock Based Compensation20232022
Research and Development$— $(64)
General & Administrative504 125 
Total$504 $61 

Stock Options

During the year ended December 31, 2023, no stock options were granted, 3,336 stock options vested, and 6,668 vested stock options expired. During the year ended December 31, 2022, no stock options were granted, 501 vested stock options expired, and 10,000 unvested stock options were forfeited. As of December 31, 2023 there were 10,000 stock options outstanding with a weighted average exercise price of $48.75 and a weighted average remaining contractual life of 7.5 years.

A summary of stock options expired and forfeited under our plans and options outstanding as of, and changes made during, the years ended December 31, 2023 and 2022 is presented below:
Outstanding
Exercisable
Number of Options
Weighted Average Exercise Price
Number of Options
Weighted Average Exercise Price
Options outstanding and exercisable, December 31, 202127,169 113.63 7,169 294.63 
Vested— — 3,332 97.56 
Expired(501)410.18 (501)410.18 
Forfeited(10,000)48.75 — — 
Options outstanding and exercisable, December 31, 202216,668 $29.25 10,000 $223.11 
Vested— — 3,336 48.75 
Expired(6,668)285.89 (6,668)285.89 
Options outstanding and exercisable, December 31, 202310,000 $48.75 6,668 $48.75 


The intrinsic value of vested and unvested options were not significant for all periods presented. Stock compensation expense related to stock options for the year ended December 31, 2023 was $124,000, recorded as a component of General and Administrative expense. Net stock compensation expense, related to stock options, for the year ended December 31, 2022 was $61,000, made up of $146,000 in expense offset by $85,000 related to forfeiture credits. There was $125,000 stock compensation expense, recorded as a component of General and Administrative expense and a net credit of $64,000 recorded as a component of Research and Development expense, related to stock options for the year ended December 31, 2022. As of December 31, 2023, there was $61,000 remaining as unrecognized stock-based compensation expense for options, which will be recognized over a weighted average period of 0.50 years.
Restricted Stock Awards
On May 28, 2023, in relation to the departure of certain directors, 42 restricted stock awards became fully vested and were delivered in shares of the Company’s common stock. The awards were issued in 2014 and vested over the lesser of ten years, a change in control, or separation from the company.

As of December 31, 2023, there were no unvested restricted stock awards outstanding and there is no unrecognized stock-based compensation expense for restricted stock awards. There was no stock compensation expense related to restricted stock awards during the years ended December 31, 2023 and 2022.

Restricted Stock Units

On April 18, 2023, 177,564 restricted stock units (“RSUs”) were granted to certain board members. These RSUs vested immediately upon issuance. The closing price per share of the Company’s common stock was $2.14 on the day prior to the grant date, resulting in a total fair value of $380,000 which was included in general and administrative expense, as stock-based compensation expense, upon issuance.
On May 28, 2023, in relation to the departure of certain directors, 1,929 fully vested RSUs were delivered in shares of the Company’s common stock, in accordance with the terms of the RSUs.

As of December 31, 2023, there were no unvested RSUs outstanding and there was no remaining unrecognized stock-based compensation expense for RSUs. Stock compensation expense related to RSUs for the years ended December 31, 2023 and 2022 was $380,000 and zero, respectively.