we have not adopted a formal policy pertaining to the timing of stock option grants to our named executive officers, it is our practice not to time the grant of equity awards, including stock options, in relation to the release of material non-public information (“MNPI”). Similarly, the Company does not time the disclosure of MNPI for the purpose of affecting the value of executive compensation. In addition, our Compensation Committee generally approves the grant of equity awards for our executive officers, including each of the named executive officers.