Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.20.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Fair Values of Stock Options Granted and Assumptions used in Black-Scholes Model

The estimated fair values of stock options granted, and the assumptions used for the Black-Scholes option pricing model were as follows:

 

 

Three Months Ended March 31,

 

 

2020

 

 

2019

 

Estimated fair values of stock options granted

$

5.19

 

 

$

9.45

 

Assumptions:

 

 

 

 

 

 

 

Risk-free interest rate

 

1.7

%

 

 

2.5

%

Expected volatility

 

77.4

%

 

 

78.9

%

Expected term (in years)

 

6.9

 

 

 

6.9

 

Summary of Stock Option Activity

Information on stock option activity is as follows:

 

Options

Exercisable

 

 

Weighted-

Average

Exercise

Price Per

Share

 

 

Options

Outstanding

 

 

Weighted-

Average

Exercise

Price Per

Share

 

Balance as of December 31, 2019

 

1,789,567

 

 

$

8.73

 

 

 

4,481,359

 

 

$

11.73

 

Granted

 

 

 

 

 

 

 

 

 

60,000

 

 

 

7.30

 

Forfeited or expired

 

 

 

 

 

 

 

 

 

(235,894

)

 

 

15.61

 

Balance as of March 30, 2020

 

1,890,357

 

 

$

8.97

 

 

 

4,305,465

 

 

$

11.46

 

Schedule of Net Cash Proceeds from Exercise of Stock Options Less Shares Used for Minimum Withholding Taxes and Intrinsic Value of Options Exercised

Net cash proceeds from the exercise of stock options less shares used for minimum withholding taxes and the intrinsic value of options exercised were as follows:

 

Three Months Ended March 31,

 

In Thousands

2020

 

 

2019

 

Net cash proceeds

$

 

 

$

125

 

Intrinsic value of options exercised

$

 

 

$

353

 

Summary of Activity of Restricted Stock Units

Information on restricted stock unit activity is as follows:

 

Number of

Restricted Stock

Units Outstanding

 

 

Weighted-

Average Grant

Date Fair Value

 

Unvested balance at December 31, 2019

 

813,526

 

 

$

10.31

 

Vested

 

(51,973

)

 

 

9.80

 

Forfeited

 

(50,417

)

 

 

10.45

 

Unvested balance at March 31, 2020

 

711,136

 

 

$

10.33

 

Summary of Grant Date Fair Value of Restricted Stock Unit Awards Vested

The total grant-date fair value of restricted stock unit awards that vested is as follows:

 

 

Three Months Ended March 31,

 

In Thousands

 

2020

 

 

2019

 

Grant-date fair value

 

$

510

 

 

$

133

 

 

Summary of Stock-Based Compensation Granted As Deemed Dividends

We treat stock-based compensation awards granted to employees of Cellectis as deemed dividends. We recorded deemed dividends as follows:

 

 

Three Months Ended March 31,

 

In Thousands

 

2020

 

 

2019

 

Deemed dividends from grants to Cellectis employees

 

$

224

 

 

$

411

 

 

Stock Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Stock-based Compensation Expense

Stock-based compensation expense related to stock option awards is as follows:

 

 

 

Three Months Ended March 31,

 

In Thousands

 

2020

 

 

2019

 

Stock-based compensation expense

 

$

1,006

 

 

$

768

 

Restricted Stock Units [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Stock-based Compensation Expense

Stock-based compensation expense related to restricted stock units is as follows:

 

 

Three Months Ended March 31,

 

In Thousands

 

2020

 

 

2019

 

Stock-based compensation expense

 

$

155

 

 

$

787

 

 

Performance Stock Units [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Stock-based Compensation Expense

Stock-based compensation expense related to performance stock units is as follows:

 

 

Three Months Ended March 31,

 

In Thousands

 

2020

 

 

2019

 

Stock-based compensation expense

 

$

110

 

 

$