NOTE 6 – STOCK OPTIONS

 The following table summarizes stock option activity:

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 three months ended March 31, 2019, the Company expensed total stock-based compensation related to the vested options of $78,944, and the remaining unamortized cost of the outstanding options at March 31, 2019 was approximately $632,000. This cost will be amortized on a straight-line basis over the weighted average remaining vesting period of 3 years.

There was no intrinsic value of the outstanding and exercisable options at March 31, 2019.