|3 Months Ended|
Jun. 30, 2021
The following tables summarize share-based compensation expenses relating to RSUs and stock options and the effect on basic and diluted loss per common share during the three month periods ended June 30, 2021 and 2020:
All of the stock-based compensation expense recorded during the three months ended June 30, 2021 and 2020, which totaled $and $ , respectively, is included in payroll and related expense in the accompanying condensed consolidated statements of operations. Stock-based compensation expense recorded during the three months ended June 30, 2021 and 2020 represented an impact on basic and diluted loss per common share of $(0.01) and $(0.01), respectively.
We review share-based compensation on a quarterly basis for changes to the estimate of expected award forfeitures based on actual forfeiture experience. The cumulative effect of adjusting the forfeiture rate for all expense amortization is recognized in the period the forfeiture estimate is changed. The effect of forfeiture adjustments for the three months ended June 30, 2021 was insignificant.
Stock Option Activity
During the three months ended June 30, 2021, we issued a stock option grant to our CEO for the purchase ofshares of our common stock under our 2020 Plan. The purchase price for the shares subject to the option is $ per share, the fair market value of the common stock on the date of the grant. The shares subject to the option are subject to vesting over four years, commencing on the date of grant, or Vesting Commencement Date, with twenty-five percent (25%) of the shares subject to the option vesting on the first anniversary of the Vesting Commencement Date and the remaining shares vesting in equal monthly installments over the following thirty-six (36) months, in each case subject to Dr. Fisher’s Continuous Service (as defined in the 2020 Plan) through each vesting date.
We did not issue any stock options during the three months ended June 30, 2020.
Options outstanding that have vested as of June 30, 2021 and options that are expected to vest subsequent to June 30, 2021 are as follows:
A summary of stock option activity during the three months ended June 30, 2021 is presented below:
On June 30, 2021, our stock options had an intrinsic value of approximately $based on our closing share price of $ on that date.
At June 30, 2021, there was approximately $of unrecognized compensation cost related to share-based payments, which is expected to be recognized over a weighted average period of years.
The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP).
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef