Ekso Bionics Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation

Stock-based Compensation

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Shares available to grant

As of March 31, 2023, the total number of shares authorized for grant under the Company's Amended and Restated 2014 Equity Incentive Plan was 2,524, of which 53 were available for future grants.

Stock Options

The following table summarizes information about the Company’s stock options outstanding as of March 31, 2023, and activity during the three months then ended:


	Stock Awards	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Balance as of December 31, 2022	270	$	37.96


Options forfeited	—	—
Options cancelled	(2)	56.70
Balance as of March 31, 2023	268	$	37.85	5.00	$	—
Vested and expected to vest at March 31, 2023	268	$	37.85	5.00	$	—
Exercisable as of March 31, 2023	262	$	38.51	4.97	$	—

As of March 31, 2023, total unrecognized compensation cost related to unvested stock options was $36. 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 0.63 years.

There were no stock options awarded during the three months ended March 31, 2023 and 2022.

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 three months ended March 31, 2023 is summarized below:


	Number of Shares	Weighted- Average Grant Date Fair Value
Unvested as of December 31, 2022	1,383	$	2.17
Granted	—	—
Vested	(354)	1.52
Forfeited	—	—
Unvested at March 31, 2023	1,029	$	2.40

As of March 31, 2023, $1,542 of total unrecognized compensation expense related to unvested RSUs and PSUs was expected to be recognized over a weighted average period of 1.46 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 March 31,
	2023		2022
Sales and marketing	$	64	$	69
Research and development	82		79
General and administrative	278		351
	$	424	$	499

401(k) Plan Share Match

During the three months ended March 31, 2023 and 2022, the Company issued 0 and 68 shares of common stock with a fair value of $0 and $176, 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 years ended December 31, 2022 and 2021, respectively. The share issuance related to the matching of contributions for the year ended December 31, 2022 was delayed to the three months ended June 30, 2023.

The expense for the 401(k) plan share matching was $93 and $64 for the three months ended March 31, 2023 and 2022, respectively.