|
NOTE
7 —Stock-based Compensation
Stock-based
compensation expense for the three and nine months ended September 30, 2023 and 2022 is as follows:
Schedule
of Stock based Compensation Expense
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| |
|
Three Months
Ended |
|
|
Nine Months
Ended |
|
| |
|
September
30, |
|
|
September
30, |
|
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| Cost of revenues |
|
$ |
28 |
|
|
$ |
9 |
|
|
$ |
230 |
|
|
$ |
89 |
|
| Sales and marketing |
|
|
90 |
|
|
|
3 |
|
|
|
222 |
|
|
|
53 |
|
| General and administrative |
|
|
231 |
|
|
|
622 |
|
|
|
564 |
|
|
|
1,230 |
|
| Research and development |
|
|
22 |
|
|
|
3 |
|
|
|
22 |
|
|
|
18 |
|
| Stock-based compensation
expenses |
|
$ |
371 |
|
|
$ |
637 |
|
|
$ |
1,038 |
|
|
$ |
1,136 |
|
Stock
Options:
Stock
option activity for the nine months ended September 30, 2023, is set forth in the table below:
Summary
of Stock Option Activity
| |
|
|
|
|
Weighted |
|
|
Weighted
average |
|
|
|
|
| |
|
|
|
|
average |
|
|
remaining |
|
|
Aggregate |
|
| |
|
|
|
|
exercise
price |
|
|
contractual
life |
|
|
Intrinsic |
|
| |
|
Options |
|
|
per
share |
|
|
(in
years) |
|
|
Value* |
|
| Outstanding at January
1, 2023 |
|
|
4,476,215 |
|
|
$ |
0.95 |
|
|
|
9.76 |
|
|
$ |
358 |
|
| Options granted |
|
|
1,483,000 |
|
|
$ |
0.54 |
|
|
|
|
|
|
|
|
|
| Options exercised |
|
|
(1,000,000 |
) |
|
|
0.42 |
|
|
|
|
|
|
|
|
|
| Options forfeited |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Options
expired |
|
|
(7,833 |
) |
|
|
4.50 |
|
|
|
|
|
|
|
|
|
| Outstanding at September 30,
2023 |
|
|
4,951,382 |
|
|
$ |
0.93 |
|
|
|
9.12 |
|
|
$ |
1,091 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable at September 30,
2023 |
|
|
403,420 |
|
|
$ |
5.75 |
|
|
|
8.62 |
|
|
$ |
89 |
|
| * |
The
intrinsic value is calculated as the difference between the exercise price and the fair value
of the common stock on the balance sheet date. |
As
of September 30, 2023, there was approximately $2,174
of unamortized stock-based compensation cost
related to unvested stock options and Restricted Stock Units (“RSU’s”), which is expected to be recognized over a weighted
average period of 1.88
years.
SONIM
TECHNOLOGIES, INC
NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
(In
thousands of U.S. dollars except share and per share amounts or as otherwise disclosed)
Restricted
Stock Units:
RSU
activity for the nine months ended September 30, 2023, is set forth in the table below:
Schedule
of Outstanding Restricted Stock Units
| |
|
RSUs |
|
| Outstanding at January
1, 2023 |
|
|
860,888 |
|
| Granted |
|
|
87,100 |
|
| Released |
|
|
(605,392 |
) |
| Forfeited |
|
|
(5,200 |
) |
| Outstanding
at September 30, 2023 |
|
|
337,396 |
|
|