8. Stock Plans and Stock-Based Compensation

Stock Plans

On January 1, 2017, the share reserve of the Company’s 2013 Equity Incentive Plan (“2013 Plan”), automatically increased by 1,172,350 shares. During the six months ended June 30, 2017, the Company granted options to purchase 1,490,801 of it is common stock to its employees, directors and a consultant. As of June 30, 2017, there were 260,765 shares available for grant under the 2013 Plan.

Stock-Based Compensation Expense

Stock-based compensation expense recorded was as follows (in thousands):

 

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2017				2016				2017				2016
		(unaudited)								(unaudited)
Research and development		$	268			$	223			$	628			$	445
General and administrative			1,572				347				2,490				685
Total		$	1,840			$	570			$	3,118			$	1,130

In connection with the retirement of the Company’s President and Chief Executive Officer, the Company recognized stock-based compensation expense associated with the acceleration of vesting of his stock options of $1.2 million and $1.8 million for the three and six months ended June 30, 2017, respectively.