Stockholders’ Equity |
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Stockholders’ Equity |
Note 15 — Stockholders’ Equity
Common Stock
The Company is authorized to issue shares of common stock. As of March 31, 2022 and December 31, 2021, there were and shares of common stock issued and outstanding, respectively.
During the three months ended March 31, 2022, warrant shares of 111,029,493. were exercised and the Company received proceeds of $
Preferred Stock
The Company does not currently have any shares of preferred stock authorized for issuance
Stock-Based Compensation
On September 4, 2021, the Company’s board of directors approved the Vinco Ventures, Inc. 2021 Equity Incentive Plan (the “2021 Plan”). The 2021 Plan provides for the issuance of up to (remaining as of March 31, 2022) shares of Common Stock to help align the interests of management and our stockholders and reward our executive officers for improved Company performance. Stock incentive awards under the 2021 Plan can be in the form of stock options, restricted stock units, performance awards and restricted stock that are made to employees, directors and service providers. Awards are subject to forfeiture until vesting conditions have been satisfied under the terms of the award. The exercise price of stock options is equal to the fair market value of the underlying Common Stock on the date of grant.
As of March 31, 2022, there were unvested options to purchase shares of the Common Stock and there was unrecognized equity-based compensation expense that the Company expected to recognize over a remaining weighted-average period.
Net Earnings or Loss per Share
Basic net (loss) income per common share is computed by dividing net (loss) income by the weighted average number of vested common shares outstanding during the period. Diluted net income per common share is computed by dividing net income by the weighted average number vested of common shares, plus the net impact of common shares (computed using the treasury stock method), if dilutive, resulting from the exercise of dilutive securities. In periods when losses are reported, the weighted-average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive. As of March 31, 2022 and 2021, the Company excluded the common stock equivalents summarized below, which entitle the holders thereof to ultimately acquire shares of common stock, from its calculation of earnings per share, as their effect would have been anti-dilutive.
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