Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.19.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Summarizes Information About Stock Options

PAVmed Inc 2014 Equity Plan - Stock Options

 

          Weighted        
    Number     Average     Aggregate  
    Stock     Exercise     Intrinsic  
PAVmed Inc. 2014 Equity Plan - Stock Options   Options     Price     Value  
Outstanding stock options at December 31, 2018     3,327,140     $ 4.40          
Granted     1,825,000     $ 1.00          
Exercised         $          
Forfeited     (48,611 )   $ 5.00          
Outstanding stock options at June 30, 2019     5,103,529     $ 2.71     $ 257,500  
Vested and exercisable stock options at June 30, 2019     2,620,019     $ 3.83     $ 43,292  
Unvested stock options at June 30, 2019     2,483,510     $ 1.53     $ 214,208  

 

Lucid Diagnostics Inc 2018 Equity Plan - Stock Options

 

          Weighted  
    Number     Average  
    Stock     Exercise  
Lucid Diagnostics Inc. 2018 Equity Plan - Stock Options   Options     Price  
Outstanding stock options at December 31, 2018     375,000     $ 0.60  
Granted     400,000     $ 1.00  
Exercised         $  
Forfeited         $  
Outstanding stock options at June 30, 2019     775,000     $ 0.81  
Vested and exercisable stock options at June 30, 2019     374,999     $ 0.83  
Unvested stock options at June 30, 2019     400,001     $ 0.78  
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, for the periods indicated, was as follows:

 

    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2019     2018     2019     2018  
General and administrative expenses   $ 299,346     $ 233,962     $ 584,009     $ 453,356  
Research and development expenses     89,017       69,928       263,040       121,820  
Total   $ 388,363     $ 303,890     $ 847,049     $ 575,176  
Employees [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Fair Values of Stock Options Granted Using Black-scholes Valuation Model Assumptions

Stock-based compensation expense recognized for PAVmed Inc. stock options granted to employees and members of the board of directors was based on a weighted average estimated fair value of $0.93 and $1.23 per share of PAVmed Inc. common stock, during the six months ended June 30, 2019 and 2018, respectively, calculated using the following weighted average Black-Scholes valuation model assumptions:

 

    Six Months Ended June 30,  
    2019     2018  
Risk free interest rate     2.3 %     2.0 %
Expected term of stock options (in years)     5.7       5.8  
Expected stock price volatility     50 %     50 %
Expected dividend yield     0 %     0 %

 

Stock-based compensation expense recognized for Lucid Diagnostics Inc. stock options granted to employees during the three and six months ended June 30, 2019 was calculated using the following weighted average Black-Scholes valuation model assumptions:

 

    Six Months Ended  
    June 30,  
    2019  
Risk free interest rate     2.3 %
Expected term of stock options (in years)     5.8  
Expected stock price volatility     63 %
Expected dividend yield     0 %
Non-employees [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Fair Values of Stock Options Granted Using Black-scholes Valuation Model Assumptions

Stock-based compensation expense recognized for PAVmed Inc. stock options granted to non-employees was based on a weighted average estimated fair value of $1.90 and $1.96 per share of PAVmed Inc. common stock, during the six months ended June 30, 2019 and 2018, respectively, calculated using the following weighted average Black-Scholes valuation model assumptions:

 

    Six Months Ended June 30,  
    2019     2018  
Risk free interest rate     2.3 %     2.6 %
Expected term of stock options (in years)     8.7       9.0  
Expected stock price volatility     60 %     60 %
Expected dividend yield     0 %     0 %

 

Stock-based compensation expense recognized for Lucid Diagnostics Inc. stock options granted to non-employees during the six months ended June 30, 2019 and 2018 was calculated using the following weighted average Black-Scholes valuation model assumptions:

 

    Six Months Ended  
    June 30,     June 30,  
    2019     2018  
Risk free interest rate     2.2 %     2.9 %
Expected term of stock options (in years)     9.1       9.9  
Expected stock price volatility     62 %     63 %
Expected dividend yield     0 %     0 %