Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.20.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 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     Remaining  
    Number     Average     Contractual  
    Stock     Exercise     Term  
    Options     Price     (Years)  
Outstanding at December 31, 2017     1,936,924     $ 5.19          
Granted     1,585,324     $ 2.01          
Exercised     —     $ —          
Forfeited     (195,108 )   $ 5.00          
Outstanding at December 31, 2018     3,327,140     $ 3.68       8.3  
Vested and exercisable at December 31, 2018     1,620,310     $ 4.40       7.8  
                         
Outstanding at December 31, 2018     3,327,140     $ 3.68          
Granted     1,925,000     $ 1.00          
Exercised     —     $ —          
Forfeited     (48,611 )   $ 5.00          
Outstanding at December 31, 2019     5,203,529     $ 2.68       8.1  
Vested and exercisable at December 31, 2019     3,270,487     $ 3.45       7.5  

 

Lucid Diagnostics Inc. 2018 Equity Play – Stock Options

 

          Weighted     Remaining  
    Number     Average     Contractual  
    Stock     Exercise     Term  
    Options     Price     (Years)  
Outstanding at December 31, 2017     —     $            
Granted     375,000     $ 0.60          
Exercised     —     $ —          
Forfeited     —     $ —          
Outstanding at December 31, 2018     375,000     $ 0.60       9.4  
Vested and exercisable at December 31, 2018     87,500     $ 0.57       9.4  
Unvested at December 31, 2018     287,500     $ 0.61          
                         
Outstanding at December 31, 2018     375,000     $ 0.60          
Granted     620,000     $ 1.02          
Exercised     —     $ —          
Forfeited     —     $            
Outstanding at December 31, 2019     995,000     $ 0.86       9.0  
Vested and exercisable at December 31, 2019     507,495     $ 0.83       8.9  
Unvested at December 31, 2019     487,505     $ 0.89        

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:

 

    Year Ended December 31,  
    2019     2018  
General and administrative expenses   $ 1,162,370     $ 948,143  
Research and development expenses     408,282       280,556  
Total   $ 1,570,652     $ 1,228,699  
               

Schedule of Unrecognised Compensation Expense

    Year Ended December 31,  
    2019     2018  
Lucid Diagnostics Inc 2018 Equity Plan - research and development expenses   $ 158,123     $ 40,748  
PAVmed Inc 2014 Equity Plan - research and development expenses     15,822       12,485  
Total stock-based compensation expense - recognized by Lucid Diagnostics Inc.   $ 173,945     $ 53,233

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 stock options granted to employees and members of the board of directors under the PAVmed Inc. 2014 Equity Plan was based on a weighted average fair value of $0.92 per share and $1.21 per share, during the year ended December 31, 2019 and 2018, respectively, calculated using the following weighted average Black-Scholes valuation model assumptions:

 

    Year Ended December 31  
    2019     2018  
Expected term of stock options (in years)     5.7       5.8  
Expected stock price volatility     50 %     50 %
Risk free interest rate     2.2 %     2.1 %
Expected dividend yield     0 %     0 %

 

Stock-based compensation expense recognized for stock options granted to employees under the Lucid Diagnostics Inc. 2018 Equity Plan was based on a weighted average fair value of $0.32 per share during the year ended December 31, 2019, calculated using the following weighted average Black-Scholes valuation model assumptions:

 

    Year Ended December 31  
    2019  
       
Expected term of stock options (in years)     5.8  
Expected stock price volatility     63 %
Risk free interest rate     2.1 %
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 stock options granted to non-employees under the PAVmed Inc. 2014 Equity Plan was based on a weighted average fair value of $1.97 per share and $1.97 per share, during the year ended December 31, 2019 and 2018, respectively, calculated using the following weighted average Black-Scholes valuation model assumptions:

 

    Year Ended December 31  
    2019     2018  
Expected term of stock options (in years)     8.5       8.7  
Expected stock price volatility     59 %     60 %
Risk free interest rate     2.3 %     2.5 %
Expected dividend yield     0 %     0 %

 

 

Stock-based compensation expense recognized for stock options granted to non-employees under the Lucid Diagnostics Inc. 2018 Equity Plan was based on a weighted average fair value of $0.29 and $0.51 per share during the years ended December 31, 2019 and 2018, respectively, calculated using the following weighted average Black-Scholes valuation model assumptions:

 

    Year Ended December 31  
    2019     2018  
Expected term of stock options (in years)     8.8       9.4  
Expected stock price volatility     57 %     62 %
Risk free interest rate     2.1 %     2.7 %
Expected dividend yield     0 %     0 %