Phunware, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Stock-Based Compensation

Stock-Based Compensation

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

8. Stock-Based Compensation

There have been no material changes to the terms of our various equity incentive plans since the filing of our Annual Report on Form 10-K for the year ended December 31, 2025. Refer to Note 10, “Stock-Based Compensation,” in our Annual Report on Form 10-K filed with the SEC on March 27, 2026 for more information.

Stock-Based Compensation

Compensation costs that have been included in our condensed consolidated statements of operations for all stock-based compensation arrangements is set forth below:


	Three months ended March 31,
(in thousands)	2026		2025
Cost of revenue		17		15
Sales and marketing		9		8
General and administrative		78		67
Research and development		8		(4	)
Total stock-based compensation	$	112	$	86

As of March 31, 2026, there was approximately $79 of total unrecognized compensation cost related to our stock benefit plans. These unrecognized compensation costs are expected to be recognized over an estimated weighted-average period of approximately 0.67 years.

Restricted Stock Units

A summary of our restricted stock unit activity for the three months ended March 31, 2026 is set forth below:


	Shares			Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2025		17,732		$	21.17
Granted		9,526			1.76
Released		(5,306	)		15.61
Forfeited		-			-
Outstanding as of March 31, 2026		21,952		$	14.09

Stock Options

A summary of our stock option activity under the 2018 Equity Incentive Plan (the “2018 Plan) and related information is as follows:


	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2025		1,000	$	85.00
Granted		-		-
Exercised		-		-
Forfeited		-	$	-
Outstanding as of March 31, 2026		1,000	$	85.00	6.36	$	-
Exercisable as of March 31, 2026		1,000	$	85.00	6.36	$	-

A summary of our option activity under our 2009 Equity Incentive Plan (the “2009 Plan”) and related information is as follows:


	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding as of December 31, 2025		883	$	113.56
Granted		-		-
Exercised		-		-
Forfeited		-		-
Outstanding as of March 31, 2026		883	$	113.56		2.00	$	-
Exercisable as of March 31, 2026		883	$	113.56		2.00	$	-

Our equity incentive plans had 2,232,794 and 1,232,912 shares of common stock reserved for future issuances as of March 31, 2026 and December 31, 2025, respectively. In addition, the shares of common stock reserved for issuance under the 2018 Plan also will include any shares of common stock subject to stock options granted under the 2009 Plan, that expire or otherwise terminate without having been exercised in full and shares of common stock issued pursuant to awards granted under the 2009 Plan that are forfeited. As of March 31, 2026, the maximum number of shares of common stock that may be added to the 2018 Plan pursuant to the foregoing is 883.

Furthermore, there were 79,543 and 63,167 shares of common stock available for sale and reserved for issuance under our 2018 Employee Stock Purchase Plan as of March 31, 2026 and December 31, 2025, respectively.