Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.21.1
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.