Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.10.0.1
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 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
September 30,
     Nine Months Ended
September 30,
 
     2018      2017      2018      2017  

Stock-based compensation expense for:

           

Employee stock options

   $ 150      $ 3,891      $ 726      $ 3,891  

Employee restricted stock units

     (26      706        794        1,141  

Nonemployee stock options

     (132      4,209        293        4,209  

Nonemployee restricted stock units

     693        385        1,096        393  
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ 685      $ 9,191      $ 2,909      $ 9,634  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

     Three Months
Ended
September 30,
     Nine Months Ended
September 30,
     2018      2017      2018      2017

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

           

Research and development

   $ (10    $ 4,652      $ 878      $4,673

Selling, general and administrative

     695        4,539        2,031      4,961
  

 

 

    

 

 

    

 

 

    

 

   $ 685      $ 9,191      $ 2,909      $9,634
  

 

 

    

 

 

    

 

 

    

 


Summary of Stock Option Activity

The following table summarizes stock option activity for the nine months ended September 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

     295,443      $ 18.84        

Exercised

     (461,200    $ 4.62      $ 6,416     

Canceled

     (576,853    $ 12.42        
  

 

 

          

Outstanding at September 30, 2018

     3,140,822      $ 10.14      $ 17,718        8.2  
  

 

 

          

Exercisable at September 30, 2018

     1,314,939      $ 7.01      $ 11,429        7.7  
  

 

 

          

 

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:

 

     Nine Months Ended
September 30,
 
     2018     2017  

Expected dividend yield

     0     0

Risk-free interest rate

     2.18% – 2.82     1.25% – 2.31

Expected volatility

     40.86% – 57.2     27.4% – 45.1

Expected life (in years)

     5.57 – 10.00       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

     276,625      $ 16.95  

Vested

     (191,627    $ 8.00  

Canceled

     (358,926    $ 8.00  
  

 

 

    

Unvested balance at September 30, 2018

     1,100,005      $ 10.35  
  

 

 

    

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
September 30,
     Nine Months
Ended
September 30,
 
     2018      2017      2018      2017  

Stock-based compensation expense in operating expenses:

           

Selling, general and administrative

   $ (115    $ 2      $ (9    $ 7  

Research and development

     19        96        116        340  
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ (96    $ 98      $ 107      $ 347  
  

 

 

    

 

 

    

 

 

    

 

 

 
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:

 

     Nine Months Ended
September 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)

     6.0-6.12       7.43-10