Total share-based expense related to stock options and restricted stock units (“RSUs”) was approximately $0.1 million during each of the three months ended March 31, 2022 and 2021.

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

Employee Stock Options

During the three months ended March 31, 2022, 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 $0.99. Key assumptions used in the Black-Scholes option pricing model for options granted during the three months ending March 31, 2022 were the Company’s stock price, a risk free rate of 2.38%, an expected life of 5.88 years and an expected volatility rate of 126.32%. During the three months ended March 31, 2021, the Company granted 200,000 stock option awards to purchase shares of common stock. The Company recognized a total of approximately $0.1 million of compensation expense related to employee stock options during each of the three months ended March 31, 2022 and 2021, respectively. No employee stock options or RSUs were exercised and none expired during the three months ended March 31, 2022 and 2021.

Non-Employee Stock Options

There were no non-employee stock options granted or exercised and none expired during the three months ended March 31, 2022 and 2021, respectively. The Company did not recognize any expense related to non-employee stock options during the three months ended March 31, 2022 and 2021, respectively.