NRx Pharmaceuticals, Inc. Post-effective amendment to a registration statement that is not immediately effective upon filing

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021


		December 31,
	2021		2020
Exercise price		$6.44-$23.41		$2.22-$3.07
Risk-free rate of interest		0.69%-1.45%		0.79%
Expected term (years)		5.25-6.5		4.69-5.92
Expected stock price volatility		80.0%-85.9%		80.0%
Dividend yield		—		—

The following table summarizes the Company’s employee and non-employee stock option activity under the Plan for the following periods:


				Weighted	(in thousands)
		Weighted		average	Aggregate
	Number of	average		remaining	intrinsic
	shares	exercise price		term (years)	value
Outstanding as of December 31, 2020 (as previously reported)	486,755	$	10.79	8.8	$	19,572
Retroactive application of reverse recapitalization	1,927,548		(8.62)	—		—
Outstanding as of December 31, 2020, effect of Merger	2,414,303	$	2.17	8.2	$	53,660
Options granted	892,224		13.95	9.9		3,825
Forfeited	(390,187)		(3.73)	—		(7,562)
Exercised	(516,025)		(2.23)	—		(3,645)
Outstanding as of December 31, 2021	2,400,315	$	6.28	7.8	$	4,224
Options vested and exercisable as of December 31, 2021	1,004,883	$	2.25	6.2	$	3,056

The following table summarizes the Company’s recognition of stock-based compensation for the following periods (in thousands):


	Year ended December 31,
	2021		2020
Stock-based compensation expense
General and administrative	$	6,500	$	332
Research and development		1,285		398
Total stock-based compensation expense	$	7,785	$	730