Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.8.0.1
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2017
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  
     2017      2016      2017      2016  

Stock-based compensation expense for:

           

Employee stock options

   $ 3,891      $ —        $ 3,891      $ —    

Employee restricted stock units

     706        —          1,141        —    

Nonemployee stock options

     4,209        —          4,209        —    

Nonemployee restricted stock units

     385        —          393        —    
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ 9,191      $ —        $ 9,634      $ —    
  

 

 

    

 

 

    

 

 

    

 

 

 

 

     Three Months Ended September 30      Nine Months Ended September 30  
     2017      2016      2017      2016  

Stock-based compensation expense in operating expenses:

           

Selling, general and administrative

   $ 4,539      $ —        $ 4,961      $ —    

Research and development

     4,652        —          4,673        —    
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ 9,191      $ —        $ 9,634      $ —    
  

 

 

    

 

 

    

 

 

    

 

 

 
Summary of Stock Option Activity

The following table summarizes stock option activity for the nine months ended September 30, 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

     (43,130    $ 4.14        

Canceled

     (20,825    $ 5.85        
  

 

 

          

Outstanding at September 30, 2017

     3,986,992      $ 9.15      $ 61,172        9.1  
  

 

 

          

Exercisable at September 30, 2017

     1,193,700      $ 5.21      $ 23,010        8.3  
  

 

 

          
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:

 

Expected dividend yield

   0%

Risk-free interest rate

   1.25% - 2.31%

Expected volatility

   27.4% - 45.1%

Expected life (in years)

   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, 2016

     —        $ —    

Granted

     1,452,333      $ 8.00  

Vested

     (39,200   
  

 

 

    

Unvested balance at September 30, 2017

     1,413,133      $ 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:

 

     Three Months Ended September 30      Nine Months Ended September 30  
     2017      2016      2017      2016  

Stock-based compensation expense in operating expenses:

           

Selling, general and administrative

   $ 2      $ 5      $ 7      $ 17  

Research and development

     96        207        340        790  
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ 98      $ 212      $ 347      $ 807  
  

 

 

    

 

 

    

 

 

    

 

 

 
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:

 

Expected dividend yield

   0%

Risk-free interest rate

   2.16% - 2.31%

Expected volatility

   37.5% - 42.3%

Expected life (in years)

   7.43 – 10.00