Sonim Technologies 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, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

NOTE 8 —Stock-based Compensation

On January 27, 2022, 415,023 shares of common stock were issued under the 2019 Employee Stock Purchase Plan as payment to three executives for bonuses that relate to the 2021 year. The dollar value of these bonuses was fixed at $254 as of December 31, 2021, and the number of shares issued on January 27, 2022 was determined based on the closing stock price on that date. As of December 31, 2021, the bonus was fully vested and $254 was included in accrued expenses. The stock was issued to the executives on February 4, 2022.

Stock-based compensation expense for the three months ended March 31, 2022 is as follows:

	Three Months Ended
	March 31,
	2022		2021
Cost of revenues	$	11	$	50
Sales and marketing	26		56
General and administrative	225		174
Research and development	21		16
	$	283	$	296

Stock Options:

Stock option activity for the three months ended March 31, 2022, is set forth in the table below and reflects the 1-for-10 Reverse Stock Split that became effective on September 15, 2021:

					Weighted average
				Weighted average	remaining		Aggregate
				exercise price	contractual life		Intrinsic
	Options			per share	(in years)		Value*
Outstanding at January 1, 2022	95,413		$	40.00	6.73	$	0
Options granted	—
Options exercised	—
Options forfeited	(1,074	)	$	23.29
Options expired	(1,696	)	$	52.87
Outstanding at March 31, 2022	92,643		$	39.96	6.15	$	0


Exercisable at March 31, 2022	62,550		$	43.74	5.51	$	0

*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 March 31, 2022, there was approximately $1,285 of unamortized stock-based compensation cost related to unvested stock options, which is expected to be recognized over a weighted average period of approximately three years.

Restricted Stock Units:

Restricted stock units’ (“RSU”) activity for the three months ended March 31, 2022, is set forth in the table below and reflects the 1-for-10 Reverse Stock Split that became effective on September 15, 2021:

	RSUs
Outstanding at January 1, 2022		347,111
Granted		—
Released		(125	)
Forfeited		(23,037	)
Outstanding at March 31, 2022		323,949