Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.10.0.1
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 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
June 30
     Six Months Ended
June 30
 
     2018      2017      2018      2017  

Stock-based compensation expense for:

           

Employee stock options

   $ 278      $ —        $ 576      $ —    

Employee restricted stock units

     384        435        819        435  

Nonemployee stock options

     1,138        —          426        —    

Nonemployee restricted stock units

     492        8        403        8  
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ 2,292      $ 443      $ 2,224      $ 443  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

     Three Months Ended
June 30
     Six Months Ended
June 30
     2018      2017      2018      2017

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

           

Selling, general and administrative

   $ 967      $ 422      $ 1,336      $422

Research and development

     1,325        21        888      21
  

 

 

    

 

 

    

 

 

    

 

   $ 2,292      $ 443      $ 2,224      $443
  

 

 

    

 

 

    

 

 

    

 

Summary of Stock Option Activity

The following table summarizes stock option activity for the six months ended June 30, 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

     83,625      $ 23.03        

Exercised

     (333,899    $ 3.72      $ 5,159     

Canceled

     (249,900    $ 13.29        
  

 

 

          

Outstanding at June 30, 2018

     3,383,258      $ 9.74      $ 30,864        8.4  
  

 

 

          

Exercisable at June 30, 2018

     1,361,055      $ 7.13      $ 15,977        8.0  
  

 

 

          
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:

 

     Six Months Ended
June 30
     2018    2017

Expected dividend yield

   0%    0%

Risk-free interest rate

   2.45-2.82%    1.25%
-
2.31%

Expected volatility

   40.9%-54.7%    27.4%
-
42.5%

Expected life (in years)

   6.34-9.21    1.22 -
10.00
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

     27,875      $ 23.03  

Vested

     (186,727    $ 8.00  

Canceled

     (171,500    $ 8.00  
  

 

 

    

Unvested balance at June 30, 2018

     1,043,581      $ 8.40  
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
June 30
     Six Months Ended
June 30
 
     2018      2017      2018      2017  

Stock-based compensation expense in operating expenses:

           

Selling, general and administrative

   $ 53      $ 10      $ 106      $ 13  

Research and development

     43        105        97        236  
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ 96      $ 115      $ 203      $ 249  
  

 

 

    

 

 

    

 

 

    

 

 

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:

 

     Six Months Ended
June 30
     2018    2017

Expected dividend yield

   0%    0%

Risk-free interest rate

   0.03%-0.94%    2.16%-2.31%

Expected volatility

   59.09%-65.64%    37.5%-42.3%

Expected life (in years)

   6.00-6.12    7.43-10