NOTE 9 - SUBSEQUENT EVENTS

ATM Offering

In April 2021, the Company sold an aggregate of 149,696 shares of common stock (the “Shares”) through the ATM Offering at an average price of $12.04 per share for gross proceeds of approximately $1.8 million, prior to deducting commissions and other offering related expenses. The offers and sales of the Shares were made pursuant to the Company’s effective “shelf” registration statement on Form S-3 filed with the SEC on October 16, 2020, and declared effective by the SEC on October 26, 2020, and the related prospectus supplement for the ATM Offering dated December 21, 2020.

2021 Equity Incentive Plan

On April 29, 2021, at the Company’s annual stockholders meeting, the 2021 Equity Incentive Plan (“2021 Plan”) was approved by the stockholders of the Company. As of May 10, 2021, there were no awards granted under the 2021 Plan, and 2,000,000 shares of common stock were available for issuance under the 2021 Plan.

Grant of Restricted Stock Units to Non-Executive Directors

On April 29, 2021, the Company’s four non-executive directors were awarded RSUs covering a total of 18,312 shares of common stock under the 2014 Plan. The RSUs vest annually over a three-year vesting period with the first one third of the RSUs to be vested on April 29, 2022. The awards are subject to the terms and conditions of the 2014 Plan and the terms and conditions of an applicable award agreement covering each grant. The awards were approved by the compensation committee of the Company and the Board of Directors prior to being granted.