Quarterly report pursuant to Section 13 or 15(d)

Stock Plans and Stock-Based Compensation

v3.21.1
Stock Plans and Stock-Based Compensation
3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]  
Stock Plans and Stock-Based Compensation
5. Stock Plans and Stock-Based Compensation
Stock Plans
As permitted under the provisions of the Company’s 2013 Equity Incentive Plan (
the
2013 Plan), the Board of Directors reduced the automatic increase in the share reserve from 5%
 
to 4%
of common shares outstanding as of December 31, 2020, thereby adding an additional
 2,757,843 shares to 2013 Plan share reserve on January 1, 2021. As of March 31, 2021, there were 1,684,439
shares available for grant under the 2013 Plan and an additional
 750,000
shares available under the 2020 New Hire Plan (the 2020 Plan), for a total of 2,434,439 shares available for grant under both plans as of March 31, 2021. During the three months ended March 31, 2021, the Company granted 1,312,216
stock options, which primarily related to its option grants issued to employees.
Stock-Based Compensation Expense
Stock-based compensation expense is included in the condensed consolidated statements of operations and comprehensive loss and is as follows (in thousands):
 
 
  
Three Months Ended
March 31,
 
 
  
2021
 
  
2020
 
Research and development
  
$
1,077
 
  
$
444
 
General and administrative
  
 
1,428
 
  
 
1,554
 
 
  
 
 
 
  
 
 
 
Total stock-based compensation expense
  
$
2,505
 
  
$
1,998