Total share-based expense related to stock options, restricted stock units (“RSUs”) and common stock awards was approximately $0.1 million during the three months ended September 30, 2021 and 2020 and approximately $0.3 million and $0.4 million for the nine months ended September 30, 2021 and 2020, respectively.

Share-based compensation expense is classified in the condensed consolidated statements of operations as follows: 

Employee Stock Options

During the nine months ended September 30, 2021, the Company granted 200,000 stock option awards to purchase shares of common stock. The weighted average grant date fair value per option share was $2.34. Key assumptions used in the Black-Scholes option pricing model for options granted during the nine months ending September 30, 2021 were the Company’s stock price, a risk free rate of 1.08%, an expected life of 5.88 years and an expected volatility rate of 134.47%. There were no employee stock options or RSUs granted or exercised during the nine months ended September 30, 2020. The Company recognized a total of $0.1 million of compensation expense related to employee stock options during the three months ended September 30, 2021 and 2020 and $0.3 million and $0.4 million during the nine months ended September 30, 2021 and 2020, respectively.

Non-Employee Stock Options

The Company did not grant any non-employee stock options during the three and nine months ended September 30, 2021 and 2020. The Company did not recognize any expense related to non-employee stock options during the three and nine months ended September 30, 2021. The Company recognized approximately $4,000 and $11,000 of expense during the three and nine months ended September 30, 2020, respectively.

Common Stock Awards

The Company did not grant any common stock awards during the three and nine months ended September 30, 2021 and September 30, 2020, respectively. During the three and nine months ended September 30, 2021, the Company issued 7,153 shares related to common stock awards. During the nine months ended September 30, 2020, the Company issued 1,188 shares related to common stock awards. As of September 30, 2021, there were 253 common stock awards authorized but not issued.