Total share-based expense related to stock options and restricted stock grants was approximately $36,000 and $16,000 for the three months ended September 30, 2026 and 2025, respectively, and approximately $0.1 million for both the nine months ended September 30, 2026 and 2025.

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

Employee Stock Options and Restricted Stock

No employee stock option awards to purchase shares of Company Common Stock were granted or exercised during each of the three and nine months ended September 30, 2026 and 2025. During the nine months ended September 30, 2026, options to purchase 102 shares of Company Common Stock expired. During the three and nine months ended September 30, 2025, options to purchase 1,585 shares and 91,463 shares of Company Common Stock, respectively, expired. The Company granted restricted stock of 100,000 common shares during the nine months ended September 30, 2026. No restricted stock was granted or outstanding during the nine months ended September 30, 2025.

The Company recognized a total of approximately $36,000 and $16,000 of share-based expense related to employee stock options and restricted stock during the three months ended September 30, 2026 and 2025, respectively, and approximately $99,000 and $51,000 during the nine months ended September 30, 2026 and 2025, respectively. Restricted stock of approximately 7,000 shares vested and were issued during the nine months ended September 30, 2026.

Non-Employee Stock Options

There were no non-employee options outstanding as of both September 30, 2026 and December 31, 2025. During the three and nine months ended September 30, 2025, options to purchase 253 shares of Company Common Stock expired representing all non-employee stock options outstanding. The Company did not recognize any share-based expense related to non-employee stock options during each of the three and nine months ended September 30, 2026 and 2025.