Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.19.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Summarizes Information About Stock Options

2014 Equity Plan is summarized as follows:

 

PAVmed Inc. 2014 Equity Plan  

Number

Stock

Options

   

Weighted

Average

Exercise

Price

   

Aggregate

Intrinsic

Value

 
                   
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     $         —  
Vested and exercisable at December 31, 2018     1,620,310     $ 4.40     $  
Unvested at December 31, 2018     1,656,830     $ 2.73     $  
                         
Outstanding at December 31, 2016     1,633,313     $ 5.14          
Granted     380,000     $ 5.35          
Exercised         $          
Forfeited     (76,389 )   $ 5.00          
Outstanding at December 31, 2017     1,936,924     $ 5.19     $  
Vested and exercisable at December 31, 2017     964,080     $ 5.14     $  
Unvested at December 31, 2017     972,844     $ 5.23     $  

 

The aggregate intrinsic value is computed as the difference between the quoted price of the PAVmed Inc. common stock on each of December 31, 2018 and 2017 and the exercise price of the underlying PAVmed Inc. stock options, to the extent such quoted price is greater than the exercise price.

 

2018 Equity Plan is summarized as follows:

 

Lucid Diagnostics Inc. 2018 Equity Plan  

Number

Stock

Options

   

Weighted

Average

Exercise

Price

 
Outstanding at December 31, 2017         $  
Granted     375,000     $ 0.60  
Exercised         $  
Forfeited         $    
Outstanding at December 31, 2018     375,000     $ 0.60  
Vested and exercisable at December 31, 2018     87,500     $ 0.57  
Unvested at December 31, 2018     287,500     $ 0.61  

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, for the periods indicated, was as follows:

 

    Year Ended December 31,  
    2018     2017  
General and administrative expenses   $ 948,143     $ 925,534  
Research and development expenses     280,556       122,593  
Total   $ 1,228,699     $ 1,048,127  

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 $1.21 per share and $2.62 per share, during the year ended December 31, 2018 and 2017, respectively, calculated using the following weighted average Black-Scholes valuation model assumptions:

 

    Year Ended December 31,  
    2018     2017  
Risk free interest rate     2.1 %     2.1 %
Expected term of stock options (in years)     5.8       5.8  
Expected stock price volatility     50 %     50 %
Expected dividend yield     0 %     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 $2.80 per share, during the year ended December 31, 2018 and 2017, respectively, calculated using the following weighted average Black-Scholes valuation model assumptions:

 

    Year Ended December 31,  
    2018     2017  
Risk free interest rate     2.5 %     2.3 %
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 stock options granted to non-employees under the Lucid Diagnostics Inc. 2018 Equity Plan was based on a weighted average fair value of $0.51 per share during the year ended December 31, 2018, calculated using the following weighted average Black-Scholes valuation model assumptions:

 

   

Year Ended

December 31, 2018

 
Risk free interest rate     2.7 %
Expected term of stock options (in years)     9.4  
Expected stock price volatility     62 %
Expected dividend yield     0 %