Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.20.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Summarizes Information About Stock Options

Stock options issued and outstanding under the PAVmed Inc 2014 Long-Term Incentive Equity Plan (PAVmed Inc. 2014 Equity Plan”) for the period noted is as follows:

    Number
Stock
Options
    Weighted
Average
Exercise
Price
    Remaining
Contractual
Term
(Years)
 
Outstanding stock options at December 31, 2019     5,204     $ 2.68       8.1  
Granted     1,345     $ 2.18       9.8  
Exercised         $          
Forfeited         $          
Outstanding stock options at June 30, 2020     6,549     $ 2.58       7.7  
Vested and exercisable stock options at June 30, 2020     4,016     $ 3.13       7.3  

 

Stock options issued and outstanding under the Lucid Diagnostics Inc. 2018 Equity Plan for the period noted is as follows:

 

    Number
Stock
Options
    Weighted
Average
Exercise
Price
    Remaining
Contractual
Term
(Years)
 
Outstanding stock options at December 31, 2019     995     $ 0.86       9.0  
Granted         $          
Exercised     3     $ 1.50          
Forfeited         $          
Outstanding stock options at June 30, 2020     992     $ 0.86       8.5  
Vested and exercisable stock options at June 30, 2020     574     $ 0.83       8.4  
Schedule of Stock-Based Compensation Awards Granted

Consolidated stock-based compensation expense recognized for both the PAVmed Inc. 2014 Equity Plan and the Lucid Diagnostics Inc. 2018 Equity Plan, with respect to stock options and restricted stock awards as discussed above, for the periods indicated, was as follows:

 

    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2020     2019     2020     2019  
General and administrative expenses   $ 407     $ 299     $ 684     $ 584  
Research and development expenses     122       89       188       263  
Total   $ 529     $ 388     $ 872     $ 847  
Schedule of Unrecognized Compensation Expense

As of June 30, 2020, unrecognized stock-based compensation expense and weighted average remaining requisite service period with respect to stock options and restricted stock awards issued under each of the PAVmed Inc. 2014 Equity Plan and the Lucid Diagnostics Inc 2018 Equity Plan, as discussed above, is as follows:

 

   

Unrecognized

Expense

    Weighted Average
Remaining
Service
Period
 
PAVmed Inc. 2014 Equity Plan                
Stock Options   $ 2,269        1.2 years  
Restricted Stock Awards   $ 2,243       2.6 years  
                 
Lucid Diagnostics Inc. 2018 Equity Plan                
Stock Options   $ 75       1.3 years  
Schedule of Fair Values of Stock Options Granted Using Black-scholes Valuation Model Assumptions

Stock-based compensation expense recognized with respect to stock options granted under the PAVmed Inc. 2014 Equity Plan was based on a weighted average estimated fair value of such stock options of $0.92 per share and $0.93 per share during the six months ended June 30, 2020 and 2019, respectively, calculated using the following weighted average Black-Scholes valuation model assumptions:

 

    Six Months Ended June 30,  
    2020     2019  
             
Expected term of stock options (in years)     5.7       5.7  
Expected stock price volatility     56 %     50 %
Risk free interest rate     2.0 %     2.3 %
Expected dividend yield     0 %     0 %

 

Stock-based compensation expense recognized with respect to stock options granted under the Lucid Diagnostics Inc. 2018 Equity Plan was based on a weighted average estimated fair value of such stock options of $0.30 per share and $0.39 per share during the six months ended June 30, 2020 and 2019, respectively, and was calculated using the following weighted average Black-Scholes valuation model assumptions:

 

    Six Months Ended June 30,  
    2020     2019  
             
Expected term of stock options (in years)     5.2       5.7  
Expected stock price volatility     60 %     63 %
Risk free interest rate     1.9 %     2.5 %
Expected dividend yield     0 %     0 %