Stock-Based Compensation (Tables)
|
3 Months Ended |
Mar. 31, 2021 |
|---|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of Stock-Based Compensation Awards Granted |
The 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:
| |
|
For the Three Months Ended
March 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Sales and marketing expenses |
|
$ |
202 |
|
|
$ |
34 |
|
| General and administrative expenses |
|
|
1,124 |
|
|
|
243 |
|
| Research and development expenses |
|
|
110 |
|
|
|
67 |
|
| Total |
|
$ |
1,436 |
|
|
$ |
344 |
|
|
| Schedule of Stock-Based Compensation Expense Classified in Research and Development Expenses |
| |
|
Three Months Ended |
|
| |
|
March 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Lucid Diagnostics Inc 2018 Equity Plan – general and administrative expense |
|
$ |
789 |
|
|
$ |
— |
|
| Lucid Diagnostics Inc 2018 Equity Plan – research and development expenses |
|
$ |
13 |
|
|
$ |
13 |
|
| PAVmed Inc 2014 Equity Plan - research and development expenses |
|
|
3 |
|
|
|
3 |
|
|
Total stock-based compensation expense –
recognized by Lucid Diagnostics Inc
|
|
$ |
805 |
|
|
$ |
16 |
|
|
| Schedule of Unrecognized Compensation Expense |
As of March 31, 2021, 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 |
|
$ |
2,419 |
|
|
|
0.8 years |
|
| Restricted Stock Awards |
|
$ |
1,573 |
|
|
|
1.9 years |
|
| |
|
|
|
|
|
|
|
|
| Lucid Diagnostics Inc. 2018 Equity Plan |
|
|
|
|
|
|
|
|
| Stock Options |
|
$ |
36 |
|
|
|
0.7 years |
|
| Restricted Stock Awards |
|
$ |
18,139 |
|
|
|
1.9 years |
|
|
| Schedule of Fair Values of Stock Options Granted Using Black-scholes Valuation Model Assumptions |
| |
|
Three Months Ended March 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Expected term of stock options (in years) |
|
|
5.7 |
|
|
|
5.8 |
|
| Expected stock price volatility |
|
|
75 |
% |
|
|
59 |
% |
| Risk free interest rate |
|
|
0.96 |
% |
|
|
1.3 |
% |
| Expected dividend yield |
|
|
0 |
% |
|
|
0 |
% |
|
| 2014 Equity Plan [Member] |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of Summarizes Information About Stock Options |
Stock options issued and outstanding
under the PAVmed Inc. 2014 Equity Plan is as follows:
| |
|
Number
Stock
Options |
|
|
Weighted
Average
Exercise
Price |
|
|
Remaining
Contractual
Term
(Years) |
|
|
Intrinsic Value(2) |
|
| Outstanding stock options at December 31, 2020 |
|
|
6,798,529 |
|
|
$ |
2.55 |
|
|
|
|
|
|
|
|
|
| Granted(1) |
|
|
350,000 |
|
|
$ |
2.96 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
(80,000 |
) |
|
$ |
1.00 |
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
(25,833 |
) |
|
$ |
2.44 |
|
|
|
|
|
|
|
|
|
| Outstanding stock options at March 31, 2021 |
|
|
7,042,696 |
|
|
$ |
2.59 |
|
|
|
7.2 |
|
|
$ |
14,425 |
|
| Vested and exercisable stock options at March 31, 2021 |
|
|
5,216,860 |
|
|
$ |
2.80 |
|
|
|
6.6 |
|
|
$ |
9,938 |
|
| |
(1) |
Stock options granted under the PAVmed Inc. 2014 Equity Plan generally vest ratably over twelve quarters, with the vesting commencing with the grant date quarter, and have a ten-year contractual term from date-of-grant. |
| |
(2) |
The intrinsic value is computed as the difference between the quoted price of the PAVmed Inc. common stock on each of March 31, 2021 and December 31, 2020 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 [Member] |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of Summarizes Information About Stock Options |
Stock options issued and outstanding
under the Lucid Diagnostics Inc. 2018 Equity Plan is as follows:
| |
|
Number
Stock
Options |
|
|
Weighted
Average
Exercise
Price |
|
|
Remaining
Contractual
Term
(Years) |
|
| Outstanding stock options at December 31, 2020 |
|
|
991,667 |
|
|
$ |
0.86 |
|
|
|
8.0 |
|
| Granted(1) |
|
|
— |
|
|
$ |
— |
|
|
|
|
|
| Exercised |
|
|
— |
|
|
$ |
— |
|
|
|
|
|
| Forfeited |
|
|
— |
|
|
$ |
— |
|
|
|
|
|
| Outstanding stock options at March 31, 2021 |
|
|
991,667 |
|
|
$ |
0.86 |
|
|
|
7.7 |
|
| Vested and exercisable stock options at March 31, 2021 |
|
|
838,749 |
|
|
$ |
0.83 |
|
|
|
7.7 |
|
| |
(1) |
Stock options granted under the Lucid Diagnostics Inc. 2018 Equity Plan generally vest ratably over twelve quarters, with the vesting commencing with the grant date quarter, and have a ten-year contractual term from date-of-grant. |
|