Quarterly report pursuant to Section 13 or 15(d)

RESTRICTED STOCK UNITS

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RESTRICTED STOCK UNITS
 3 Months Ended
Mar. 31, 2023
Restricted Stock Units  
RESTRICTED STOCK UNITS

10. RESTRICTED STOCK UNITS

 

A summary of restricted stock unit activity for the three months ended March 31, 2023 is presented below.

          Weighted-  
          Average  
          Grant Date  
    Shares     Fair Value  
             
Non-vested at January 1, 2023     89,898     $ 29.04  
Granted     7       8.80  
Vested/deemed vested     (49,596 )     15.63  
Forfeited     (15,012 )     40.70  
Non-vested at March 31, 2023     25,297     $ 48.41  

 

 

The total fair value of restricted stock units that vested or deemed vested during the three months ended March 31, 2023 was $775. The total stock compensation expense recognized relating to the vesting of restricted stock units for the three months ended March 31, 2023 amounted to $536. As of March 31, 2023 the amount of unvested compensation related to issuances of restricted stock units was $1,052 which will be recognized as an expense in future periods as the shares vest. When calculating basic net loss per share, these shares are included in weighted average common shares outstanding from the time they vest. When calculating diluted net loss per share, these shares are included in weighted average common shares outstanding as of their grant date.