Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation

v3.22.2
Stock-based Compensation
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation Stock-based Compensation
 
Shares available to grant

On June 9, 2022, the Company held its 2022 annual meeting of stockholders and ratified an amendment to the Company's Amended and Restated 2014 Equity Incentive Plan to increase the total number of shares of common stock authorized for issuance by 550 shares. As of June 30, 2022, the total shares authorized for grant under the 2014 Plan was 2,524, of which 617 were available for future grants.
 
Stock Options
 
The following table summarizes information about the Company’s stock options outstanding as of June 30, 2022, and activity during the six months then ended:
Stock
Awards		 Weighted-
Average
Exercise Price		 Weighted-
Average
Remaining
Contractual
Life (Years)		 Aggregate
Intrinsic
Value
Balance as of December 31, 2021 491  $ 32.53 
Options forfeited (51) 12.66 
Options cancelled (133) 29.38 
Balance as of June 30, 2022 307  $ 37.20  5.11 $ — 
Vested and expected to vest at June 30, 2022 307  $ 37.20  5.11 $ — 
Exercisable as of June 30, 2022 291  $ 38.57  5 $ — 
 
As of June 30, 2022, total unrecognized compensation cost related to unvested stock options was $124. This amount is expected to be recognized as stock-based compensation expense in the Company’s condensed consolidated statements of operations and comprehensive loss over the remaining weighted average vesting period of 1.05 years.

There were no stock options awarded for the three and six months ended June 30, 2022 or the three and six months ended June 30, 2021.

Restricted Stock Units
 
The Company issues time-based restricted stock units (“RSUs”) and performance-based restricted stock units ("PSUs") to employees and non-employee members of the Board. Each RSU and PSU represents the right to receive one share of the Company’s common stock upon vesting and subsequent settlement. PSUs vest upon achievement of performance targets based on the Company's annual operating plan.
The fair values of RSUs and PSUs are determined based on the closing price of the Company’s common stock on the date of grant.
 
Combined RSU and PSU activity for the six months ended June 30, 2022 is summarized below:
  Number of
Shares		 Weighted-
Average Grant
Date Fair Value
Unvested as of December 31, 2021 655  $ 5.63 
Granted 896  2.05 
Vested (292) 4.96 
Forfeited (193) 5.52 
Unvested at June 30, 2022 1,066  $ 2.85 
 
As of June 30, 2022, $2,543 of total unrecognized compensation expense related to unvested RSUs and PSUs was expected to be recognized over a weighted average period of 1.78 years.
   
Compensation Expense
 
Total stock-based compensation expense related to options, RSUs and PSUs granted to employees and non-employee members of the board of directors is included in the condensed consolidated statements of operations and comprehensive loss as follows:
  Three Months Ended June 30, Six Months Ended June 30,
  2022 2021 2022 2021
Sales and marketing $ 72  $ 92  $ 141  $ 191 
Research and development 104  58  183  110 
General and administrative 406  369  757  574 
  $ 582  $ 519  $ 1,081  $ 875 
 
401(k) Plan Share Match
 
During the six months ended June 30, 2022 and 2021, the Company issued 68 and 26 shares of common stock with a fair value of $176 and $152, to eligible employees’ deferral accounts for the 401(k) Plan matching contribution representing 50% of each eligible employee’s elected deferral (up to the statutory limit) for the fiscal years ended December 31, 2021 and 2020, respectively.

The expense related to the accrual for the 401(k) plan share matching was $103 and $107 for the six months ended June 30, 2022 and 2021, respectively.