Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.8.0.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2018
Summary of Stock-based Compensation Expense

The following table presents stock-based compensation expense included in the Company’s condensed statements of operations (in thousands) for stock options and restricted stock unit awards under the plans:

 

     Three Months Ended
March 31
 
     2018      2017  

Stock-based compensation expense/(benefit) for:

     

Employee stock options

   $ 298      $ —    

Employee restricted stock units

     435        —    

Nonemployee stock options

     (712      —    

Nonemployee restricted stock units

     (89      —    
  

 

 

    

 

 

 
   $ (68    $ —    
  

 

 

    

 

 

 
     Three Months Ended
March 31
 
     2018      2017  

Stock-based compensation expense/(benefit) in operating expenses:

     

Selling, general and administrative

   $ 369      $ —    

Research and development

     (437      —    
  

 

 

    

 

 

 
   $ (68    $ —    
  

 

 

    

 

 

 

Summary of Stock Option Activity

The following table summarizes stock option activity for the three months ended March 31, 2018:

 

     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, 2017

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

Granted

     79,875      $ 10.39        

Exercised

     (196,801    $ 3.77      $ 3,260     

Canceled

     (147,000    $ 13.29        
  

 

 

          

Outstanding at March 31, 2018

     3,619,506      $ 9.60      $ 14,617        8.6  
  

 

 

          

Exercisable at March 31, 2018

     1,125,083      $ 5.41      $ 9,386        7.9  
  

 

 

          

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:

 

     Three Months Ended
March 31
     2018    2017

Expected dividend yield

   0%    0%

Risk-free interest rate

   2.45-2.72%    1.28%

Expected volatility

   40.9%-53.7%    25%

Expected life (in years)

   6.46-9.21    5.75-6.25

 

Summary of Activity of Restricted Stock Units

The following table summarizes the activity of restricted stock units:

 

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

Unvested balance at December 31, 2017

     1,373,933      $ 8.00  

Granted

     26,625      $ 23.39  

Canceled

     (102,900    $ 8.00  
  

 

 

    

Unvested balance at March 31, 2018

     1,297,658      $ 8.32  
  

 

 

    

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

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

 

     Three Months Ended
March 31
 
     2018      2017  

Stock-based compensation expense in operating expenses:

     

Selling, general and administrative

   $ 54      $ 3  

Research and development

     54        131  
  

 

 

    

 

 

 
   $ 108      $ 134  
  

 

 

    

 

 

 

 

Summary of Assumptions used in Black-Scholes Model

The following table provides the range of assumptions used in the Black-Scholes model for Cellectis awards:

 

     Three Months Ended
March 31
     2018    2017

Expected dividend yield

   0%    0%

Risk-free interest rate

   0.03%-0.94%    0.00%-0.42%

Expected volatility

   59.09%-65.64%    59.8%-63.2%

Expected life (in years)

   6.00-6.12    6.11-6.12