|9 Months Ended|
Sep. 30, 2023
|Share-Based Payment Arrangement [Abstract]|
|Stock-Based Compensation||Stock-Based Compensation
Stock Option Awards
Following is a summary of stock option activities for the nine months ended September 30, 2023:
For the three months ended September 30, 2023 and 2022, the Company recorded no stock option expense. As of September 30, 2023, there are no remaining stock options subject to amortization.
During the three months ended September 30, 2023, the Company granted an aggregate of 400,058 of the Company's restricted stock units (“RSUs”) to various employees, officers, directors, consultants, and service providers under the Blade Air Mobility, Inc. 2021 Omnibus Incentive Plan. The RSUs have various vesting dates, ranging from vesting on the grant date to as late as four years from the date of grant. The Company's current default tax withholding method for the vesting of RSUs is the sell-to-cover method, under which shares with a market value equivalent to the estimated tax withholding obligation are withheld from the holder of the RSUs upon vesting and sold on behalf of such holder to cover their applicable tax withholding liability, and the cash proceeds from such sales are then remitted by the Company to the applicable tax authorities. This approach is used for the vesting of RSUs held by the majority of the Company’s employees, including all of the Company’s Section 16 “officers” as defined by Section 16 of the Securities and Exchange Act of 1934, as amended.
As of September 30, 2023, unamortized stock-based compensation costs related to restricted share arrangements was $27,200 and will be recognized over a weighted average period of 2.9 years.
Stock-Based Compensation Expense
Stock-based compensation expense for stock options and restricted stock units in the unaudited interim condensed consolidated statements of operations is summarized as follows:
(1) For the nine months ended September 30, 2023, the Company included a credit of $339 in connection with the settlement of the equity-based portion of contingent consideration related to the acquisition of Trinity Air Medical, Inc. that was paid in the first quarter of 2023 in respect of 2022 results.
The entire disclosure for share-based payment arrangement.
Reference 1: http://www.xbrl.org/2003/role/exampleRef