Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

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Stock-Based Compensation
3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
On September 6, 2022, shareholders approved our 2022 Omnibus Incentive Plan (the “Omnibus Incentive Plan”) and on September 9, 2022, our board of directors ratified the Omnibus Incentive Plan. The Omnibus Incentive Plan provides for the grant of options, stock appreciation rights, restricted stock units (“RSUs”), restricted stock and other stock-based awards, any of which may be performance-based, and for incentive bonuses, which may be paid in cash, Common Stock or a combination thereof. During the three months ended March 31, 2024, 8,197,428 RSUs were granted with a weighted-average grant-date fair value of $0.33. As of March 31, 2024, 8,646,527 equity units remained outstanding.
At September 9, 2022, 279,464 options originally issued under the 2015 Equity Incentive Plan were converted into 3,970,266 options to purchase shares of our Common Stock. As of March 31, 2024, 2,555,470 options remained outstanding.
Total stock-based compensation expense including options, PRSUs, and RSUs for the three months ended March 31, 2024 and 2023, net of forfeiture adjustments, totaled $530,655 and $1,214,863, respectively.