Quarterly report pursuant to Section 13 or 15(d)

Stock Options

Stock Options
9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Stock Options



The following table summarizes stock option activity:


    Number of     Weighted Average
    Options     Price  
Outstanding, December 31, 2019     140,000     $ 5.22  
Outstanding, September 30, 2020 (unaudited)     140,000     $ 5.22  
Exercisable, September 30, 2020 (unaudited)     140,000     $ 5.22  


Effective July 8, 2016 the Company’s board of directors approved the Polar Power 2016 Omnibus Incentive Plan (the “2016 Plan”), authorizing the issuance of up to 1,754,385 shares of common stock as incentives to employees and consultants to the Company with awards limited to a maximum of 350,877 shares in any calendar year.


During the nine months ended September 30, 2020 and 2019, the Company expensed total stock-based compensation related to the vested options of nil and $237, respectively, related to the vesting of these options. As of September 30, 2020, there was no unamortized cost compensation costs remaining.


There was no intrinsic value of the outstanding options at September 30, 2020.