Post-effective amendment to a registration statement that is not immediately effective upon filing

Stock-Based Compensation (Tables)

v3.22.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Stock-Based Compensation  
Summary of fair value of the original NeuroRx options and Substitute Options determined using the Black-Scholes option-pricing model

   

Original Options

  

Substitute Options

Strike price

$1.00 - $72.30

$0.20 - $14.58

Volatility rate

80.0%

80.0%

Risk-free rate

0.07% - 0.79%

0.07% - 0.79%

Expected term

0.18 - 5.99

0.18 - 5.99

Dividend yield

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

 

 

Schedule of share-based compensation arrangements by share-based payment award

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

Summary of recognition of stock-based compensation

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