Subsequent Events |
9 Months Ended |
|---|---|
Sep. 30, 2023 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events Increase to Authorized Shares of Capital Stock
On September 29, 2023, the Board and stockholders representing a majority of the voting power of the outstanding shares of voting stock of the Company (the “Majority Stockholders”) adopted resolutions by unanimous written consent approving an amendment to the Articles of Incorporation of the Company (the “Charter Amendment”) to increase its authorized shares of common stock to 100,000,000. The Company filed the Charter Amendment with the Nevada Secretary of State on November 6, 2023.
Increase to Authorized Equity Incentive Pool under the 2014 Amended and Restated Plan
On September 29, 2023, the Board and Majority Stockholders adopted and approved Amendment No. 1 to the 2014 Amended and Restated Plan. Amendment No. 1 to the 2014 Amended and Restated Plan became effective on November 6, 2023. The 2014 Amended and Restated Plan was amended to increase the aggregate number of shares of the Company’s common stock authorized for issuance under the Plan to 1,846,883 shares of common stock, while retaining the automatic share replenishment feature which provides that each January 1 beginning in 2024 and ending on (and including) January 1, 2032 the number of shares will increase by 5% of the outstanding shares of common stock as of the prior December 31 of the preceding calendar year.
|