Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

v3.23.1
Related Party Transactions
3 Months Ended
Mar. 31, 2023
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE 12. RELATED PARTY TRANSACTIONS

On January 4, 2023, the Company entered into the Steel Holdings Consulting Agreement with Steel Holdings, LLC, effective as of January 1, 2023. Steel Holdings, LLC is an entity affiliated with Chad Steelberg, our current Chairman of the Board and former Chief Executive Officer effective as of December 31, 2022. Under the Steel Holdings Consulting Agreement, the Company retained Mr. Steelberg as a consultant to provide ongoing Chief Executive Officer transition services and to manage and oversee the further development of the Company’s aiWARE platform. During the three months ended March 31, 2023 the Company recorded a research and development expense of $155 for consulting fees and reimbursements for reasonable and documented expenses, $394 for variable consultant performance bonus expense and $328 in stock-based compensation expense for the Steel Holdings Consulting PSUs.

There were no other related party transactions during the three months ended March 31, 2023 and 2022.