The Company’s 2010 Stock Incentive Plan (the “2010 Plan”), succeeded the 1999 Stock Option/Stock Issuance Plan (the “1999 Plan”).  As of January 31, 2017, options to purchase 5,623 shares of common stock were outstanding under the 1999 Plan, and no further grants can be made under the 1999 Plan.

The 2010 Plan was approved by the Board of Directors on May 26, 2010 and became effective on August 13, 2010, upon approval by stockholders, and was subsequently amended by the Board of Directors on March 12, 2015 and approved by stockholders on April 24, 2015.  A maximum of 683,064 shares, adjusted for the split of outstanding options on May 25, 2016, the date of the Company’s 1-for-20 split, of Crossroads common stock may be awarded.  As of January 31, 2017, options to purchase 308,826 shares of common stock were granted from the 2010 Plan, of which 187,462 were outstanding. During the three months ended January 31, 2017 and 2016, no common stock shares were granted from the 2010 Plan, respectively.

As of January 31, 2017, options to purchase an aggregate of 193,086 shares of common stock were outstanding under the 1999 Plan and the 2010 Plan, of which 152,311 were vested. Under the 2010 Plan, 436,962 shares of common stock were available for future grants as of January 31, 2017.  The shares of common stock reserved for future grant are reduced by 26,344 options previously exercised under the 2010 Plan, and 26,457 shares of stock granted under the 2010 Plan.  The Compensation Committee of the Board of Directors determines the exercise price, term and other conditions applicable to each stock option granted under the 2010 Plan. The exercise price of stock options is set on the grant date and may not be less than the fair market value per share of the Company’s stock on that date (at market close). The 2010 Plan options generally become exercisable over either a two-year (vesting 25% at the end of six months and 12.5% quarterly thereafter until fully vested) or four-year period (vesting 25% after one year, the remaining 75% vesting quarterly thereafter) and expire after ten years. Stock option exercises are fulfilled with new shares of common stock.

The weighted average fair value per option granted during the three months ended January 31, 2017 was $0, as no options were granted during the period. The total intrinsic value of options (which is the amount by which the stock price exceeded the exercise price of the options on the date of exercise) exercised during the three months ended January 31, 2017 was $0. During the three months ended January 31, 2017 the amount of cash received from the exercise of stock options was $0.

At January 31, 2017, there was approximately $0.1 million of total unrecognized compensation cost related to non-vested stock option awards which is expected to be recognized over a weighted-average period of 0.7 years. There were 4,625 and 4,632 options that became vested during the three months ended January 31, 2017 and 2016, respectively with the total fair value of these awards of approximately $0.1 and $0.2 million, respectively.