Quarterly report pursuant to Section 13 or 15(d)

Stockholders??? Equity

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Stockholders’ Equity
3 Months Ended
Mar. 31, 2022
Stockholders' Equity Note [Abstract]  
Stockholders’ Equity

Note 13. Stockholders’ Equity 

Preferred stock: 

During the three months ended March 31, 2022, the remaining 2,199 shares of the Company’s 0% Series B Convertible Preferred Stock were converted to 2,199 shares of its common stock.

Common Stock: 

During the three months ended March 31, 2022, the Company granted 50,304 service-based restricted stock units with a fair value of approximately $1.0 million and 365,500 performance-based restricted stock units with a fair value of approximately $7.3 million.

During the three months ended March 31, 2022, 978,773 shares of common stock were issued to the Company’s officers and employees in settlement of an equal number of fully vested restricted stock units awarded to such individuals by the Company pursuant to grants made under the Riot Blockchain, Inc. 2019 Equity Incentive Plan, as amended (the “2019 Equity Plan”). The Company withheld 425,140 of these shares at a fair value of approximately $8.3 million, to cover withholding taxes related to the settlement of these vested restricted stock units, as permitted by the 2019 Equity Plan.

During the three months ended March 31, 2022 the Company did not sell any shares of common stock or receive any proceeds from the 2022 ATM Offering.