Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.8.0.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2017
Summary of Stock-based Compensation Expense

The following table presents stock-based compensation expense for the years ended December 31, 2017, 2016 and 2015 included in the Company’s statements of operations (in thousands):

 

     2017      2016      2015  

Stock-based compensation expense for:

        

Employee stock options

   $ 4,761      $ —        $ —    

Employee restricted stock units

     1,775        —          —    

Nonemployee stock options

     4,530        —          —    

Nonemployee restricted stock units

     654        —          —    
  

 

 

    

 

 

    

 

 

 
   $ 11,720      $ —        $ —    
  

 

 

    

 

 

    

 

 

 

 

     2017      2016      2015  

Stock-based compensation expense in operating expense:

        

Selling, general and administrative

   $ 5,988      $ —        $ —    

Research and development

     5,732        —          —    
  

 

 

    

 

 

    

 

 

 
   $ 11,720      $ —        $ —    
  

 

 

    

 

 

    

 

 

 
Summary of Stock Option Activity

The following table summarizes stock option activity for the year ended December 31, 2017:

 

     Number of
Shares
     Weighted-
Average
Exercise Price
Per Share
     Aggregate
Intrinsic
Value (in
thousands)
     Weighted-
Average
Remaining
Contractual
Life (in years)
 

Outstanding at December 31, 2016

     1,930,600      $ 4.45           9.1  

Granted

     2,120,347      $ 13.29        

Exercised

     (68,780    $ 3.95        

Cancelled

     (98,735    $ 1.23        
  

 

 

          

Outstanding at December 31, 2017

     3,883,432      $ 9.16      $ 49,965        8.8  
  

 

 

          

Exercisable at December 31, 2017

     1,244,968      $ 5.20      $ 20,949        8.1  
  

 

 

          
Summary of Assumptions used in Black-Scholes Model

The following table provides the assumptions used in the Black-Scholes model for the stock option awards for the years ended December 31, 2017, 2016 and 2015:

 

     2017      2016      2015  

Expected dividend yield

     0%        0%        0%  

Risk-free interest rate

     1.25% - 2.39%        0.64%        1.65%  

Expected volatility

     27.4% - 45.1%        30%        54.3%  

Expected life (in years)

     1.22 - 10.00        5.75 - 6.25        5.53  

Summary of Activity of Restricted Stock Units

The following table summarizes the activity of restricted stock units for the year ended December 31, 2017:

 

     Number of
Restricted Stock
Units Outstanding
     Weighted-Average
Grant Date Fair
Value
 

Unvested balance at December 31, 2016

     

Granted

     1,452,333      $ 8.00  

Vested

     (39,200   

Cancelled

     (39,200   
  

 

 

    

Unvested balance at December 31, 2017

     1,373,933      $ 8.00  
  

 

 

    

 


Cellectis (Parent) [Member]  
Summary of Stock-based Compensation Expense

 The following table summarizes the stock-based compensation expense for Parent awards (in thousands), which was recognized in the Company’s statements of operations:

 

     2017      2016      2015  

Stock-based compensation expense in operating expenses:

        

Selling, general and administrative

   $ 17      $ 20      $ 16  

Research and development

     354        928        676  
  

 

 

    

 

 

    

 

 

 
     $371      $948      $692  
  

 

 

    

 

 

    

 

 

 
Summary of Assumptions used in Black-Scholes Model

The following table provides the range of assumptions used in the Black-Scholes model for the Parent awards for years ended December 31, 2017, 2016 and 2015:

 

     2017      2016      2015  

Expected dividend yield

     0%        0%        0%  

Risk-free interest rate

     0.03% - 0.94%        0.16% - 0.94%        0.16% - 0.94%  
Expected volatility      59.09% - 65.64%        59.09% - 60.49%        59.09% - 60.49%  
Expected life (in years)      6.00 - 6.12        6.00 - 6.11        6.00 - 6.11