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SEC Filings

10-K
BIOTIME INC filed this Form 10-K on 03/16/2017
Entire Document
 

Additional information regarding options outstanding under BioTime’s 2002 Plan and 2012 Plan as of December 31, 2016 is as follows (in thousands except exercise prices and weighted average exercise price):

           
Options Outstanding
   
Options Exercisable
 
                             
Range of
Exercise
Prices
   
Number
Outstanding
   
Weighted Avg.
Remaining
Contractual Life
(years)
 
Weighted Avg.
Exercise Price
   
Number
Exercisable
 
Weighted Avg.
Exercise Price
 
 
2.52-3.96
     
5,349
     
7.21
   
$
3.32
     
2,080
   
$
3.46
 
 
4.02-4.95
     
1,429
     
3.80
   
$
4.25
     
1,225
   
$
4.26
 
 
5.02-8.58
     
180
     
0.84
   
$
6.94
     
179
   
$
6.95
 
$
2.52-8.58
     
6,958
     
6.34
   
$
3.60
     
3,484
   
$
3.92
 

Subsidiary Stock Option Plans

BioTime’s consolidated subsidiaries LifeMap Sciences, LifeMap Solutions, OncoCyte, OrthoCyte, ReCyte Therapeutics, and BioTime Asia have adopted stock option plans that have substantially the same operative provisions (the “Subsidiary Plans”). The LifeMap Sciences stock option plan authorizes the sale of up to 8,000,000 shares of LifeMap Sciences common stock, the LifeMap Solutions stock option plan authorizes the sale of up to 18,667 shares of LifeMap Solutions common stock, the OncoCyte stock option plan authorizes the sale of up to 4,000,000 shares of OncoCyte common stock, the BioTime Asia stock option plan authorizes the sale of up to 1,600 BioTime Asia ordinary shares, and the OrthoCyte and ReCyte Therapeutics stock option plans each authorize the sale of up to 4,000,000 shares of the applicable subsidiary’s common stock, through the exercise of stock options or under restricted stock purchase agreements. Cell Cure also has a stock option plan that authorizes the sale of 125,363 ordinary shares through the exercise of stock options.

No options may be granted under a Subsidiary Plan more than ten years after the date upon which the Subsidiary Plan was adopted by the subsidiary’s Board of Directors, and no options granted under a Subsidiary Plan may be exercised after the expiration of ten years from the date of grant. Under a Subsidiary Plan, options to purchase common stock may be granted to employees, directors and certain consultants at exercise prices not less than the fair market value of the common stock as of the date of grant, subject to certain limited exceptions for options granted in substitution of other options. Options may be fully exercisable immediately, or may be exercisable according to a schedule or conditions specified by the subsidiary’s Board of Directors or its Compensation Committee. Generally, subsidiary stock options have service related vesting conditions based on the continued performance of services for the subsidiary. The Subsidiary Plans also permit the subsidiaries to award restricted stock for services rendered or to sell common stock to employees subject to vesting provisions under restricted stock agreements that provide for forfeiture of unvested shares upon the occurrence of specified events. A subsidiary may permit employees or consultants, but not officers or directors, who purchase stock under restricted stock purchase agreements, to pay for their shares by delivering a promissory note that is secured by a pledge of their shares. As of December 31, 2016, only stock options have been issued under the Subsidiary Plans.
 
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