Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.22.4
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
A summary of the stock option activity and related information for the Plans for the years ended December 31, 2022, and 2021 is as follows:

 A summary of the stock option activity and related information for the Plans for the years ended December 31, 2022, and 2021 is as follows:

 

    Shares     Weighted- Average Exercise Price     Weighted-Average Remaining  Contractual Term     Aggregate Intrinsic Value  
Outstanding at December 31, 2020     319,179     $ 2.93       9.26     $ 131,558  
Grants     486,639     $ 40.85       —       —  
Exercised     —       —                  
Forfeitures or expirations     (56)       149,713.14                  
Outstanding at December 31, 2021     805,762     $ 78.02       8.83     $ —  
Grants     1,695,608     $ 12.06       —     $ —  
Exercised     —       —                  
Forfeitures or expirations     (48,339 )   $ 255.40                  
                                 
Outstanding at December 31, 2022     2,453,031     $ 28.93       8.70     $ —  
Exercisable at December 31, 2022     590,582     $ 70.82       7.64     $ —  
The assumptions used in the valuation of stock options granted during the year ended December 31, 2022 and 2021 were as follows:

The assumptions used in the valuation of stock options granted during the year ended December 31, 2022 and 2021 were as follows:   

 

    2022     2021  
Risk-free interest rate     1.67% to 3.05%       0.79% to 1.63%  
Expected term of option     5.5 to 10 years       5.5 to 6 years  
Expected stock price volatility     120.32% - 133.22       124.37% to 137.73%  
Expected dividend yield     0.0       0.0%