Calyxt, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

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,

	2019		2018

Estimated fair values of stock options granted	$	9.45	$	10.39
Assumptions:
Risk-free interest rate		2.5%		2.5% - 2.7%
Expected volatility		78.9%		40.9% - 53.7%
Expected term (in years)		6.9 years		6.5 – 9.2 years

Summary of Stock Option Activity

Information on stock option activity follows:


	Options Exercisable		Weighted- Average Exercise Price Per Share		Options Outstanding			Weighted- Average Exercise Price Per Share

Balance as of December 31, 2018		1,278,038	$	7.45		3,201,887			$ 10.67
Granted						180,000			13.01
Exercised						(34,402	)		3.63
Forfeited or expired						(2,205	)		13.29

Balance as of March 31, 2019		1,340,631	$	7.59		3,345,280			$ 10.87

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	2019		2018

Net cash proceeds	$	125	$	714

Intrinsic value of options exercised	$	353	$	3,260

Summary of Activity of Restricted Stock Units

Information on restricted stock unit activity follows:


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

Unvested balance at December 31, 2018		1,051,414		$	10.15
Vested		(8,894	)		14.91
Unvested balance at March 31, 2019		1,042,520		$	9.64