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SEC Filings

DEFM14A
ASTERIAS BIOTHERAPEUTICS, INC. filed this Form DEFM14A on 02/04/2019
Entire Document
 

 

 

Additional information regarding Asterias’ outstanding stock options and vested and exercisable stock options is summarized below:

 

    As of December 31, 2017 
    Options Outstanding   Options Exercisable 
Exercise Prices   Number of
Shares
   Weighted-
Average
Remaining
Contractual
Life (Years)
   Weighted-
Average
Exercise
Price
   Number of
shares
   Weighted-
Average
Exercise
Price per
Share
 
$2.34 - $3.60    2,794    4.09   $2.58    2,238   $2.47 
$3.64 - $6.17    3,478    7.69   $3.82    1,879   $3.85 
$6.22 - $6.25    104    1.69   $6.23    102   $6.23 
     6,376    6.01   $3.31    4,219   $3.17 

 

Restricted Stock and Restricted Stock Units

 

The following table summarizes the restricted stock award and restricted stock unit activity under Asterias’ Option Plan:

 

Restricted Stock Award/Unit  Number of
RSUs
Outstanding
   Weighted
Average
Grant Date
Fair Value
   Weighted
Average
Remaining
Contractual
Life (Years)
   Aggregate
Intrinsic
Value (in
thousands)
 
RSUs outstanding at December 31, 2014   100   $3.64    0.23   $324 
RSUs granted   194    2.67           
RSUs vested   (245)   1.58           
RSUs canceled   (1)   2.62           
RSUs outstanding at December 31, 2015   48   $2.67    0.25   $114 
RSAs/RSUs granted   515    3.54           
RSAs/RSUs vested   (360)   3.51           
RSUs canceled   (3)   3.49           
RSUs outstanding at December 31, 2016   200   $3.39    1.22   $380 
RSUs granted   1,007    3.25           
RSAs/RSUs vested   (351)   3.53           
RSUs canceled   (166)   3.58           
RSUs outstanding at December 31, 2017   690   $3.06    2.31   $1,553 
                     
RSUs vested and expected to vest at December 31, 2017   690   $3.06    2.31   $1,553 

 

The aggregate intrinsic value for RSUs represents Asterias’ fair market value per share of the awards and Asterias’ fair value per share of $2.25, $4.60, and $3.93 as of December 31, 2017, 2016, and 2015, respectively for the total number of underlying RSUs.

 

Stock-Based Compensation Expense

 

The weighted-average estimated fair value of stock options granted during the years ended December 31, 2017, 2016 and 2015 was $3.57, $3.56, and $4.33 per share respectively, using the Black-Scholes-Merton option pricing model with the following weighted-average assumptions:

 

   Years Ended December 31, 
   2017   2016   2015 
Expected life (in years)   5.76    5.88    3.41 
Risk-free interest rates   1.89%   1.33%   1.01%
Volatility   74.64%   75.6%   34.67%
Dividend yield   0%   0%   0%

 

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