Annual report pursuant to Section 13 and 15(d)

Stock-Based Payments (Tables)

v3.20.4
Stock-Based Payments (Tables)
12 Months Ended
Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Status of Stock Options

A summary of the status of stock options as of December 31, 2020 and December 31, 2019 and changes during the year ended December 31, 2020 is presented below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aggregate

 

 

 

 

 

 

 

Weighted

 

 

Remaining

 

 

Intrinsic

 

 

 

 

 

 

 

Average

 

 

Contractual

 

 

Value

 

 

 

Shares

 

 

Exercise Price

 

 

Life (in years)

 

 

(in thousands)

 

Outstanding at December 31, 2019

 

 

4,618,421

 

 

$

9.16

 

 

7.5

 

 

$

2,525

 

Granted

 

 

1,195,050

 

 

 

7.87

 

 

 

 

 

 

 

 

 

Exercised

 

 

(170,723

)

 

 

6.30

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(174,143

)

 

 

11.12

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2020

 

 

5,468,605

 

 

$

8.90

 

 

 

7.2

 

 

$

13,124

 

Exercisable at December 31, 2020

 

 

3,311,783

 

 

$

9.37

 

 

 

6.4

 

 

$

7,043

 

Summary of Status of Restricted Stock Units

A summary of the status of restricted stock units as of December 31, 2019 and December 31, 2020 and changes during the year ended December 31, 2020 is presented below:

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average Grant

 

 

 

Shares

 

 

Date Fair Value

 

Outstanding at December 31, 2019

 

 

1,116,358

 

 

$

6.75

 

Granted

 

 

859,500

 

 

 

8.15

 

Vested

 

 

(109,362

)

 

 

6.85

 

Forfeited

 

 

(132,113

)

 

 

7.26

 

Outstanding at December 31, 2020

 

 

1,734,383

 

 

$

7.40

 

Schedule of Weighted-Average Assumptions used in Black-Scholes Option-Pricing Model

The fair value of each stock option granted was estimated on the date of grant using the Black-Scholes option-pricing model based on the following weighted-average assumptions:

 

 

 

 

Year Ended December 31,

 

 

 

 

 

2020

 

 

 

2019

 

 

 

2018

 

 

Weighted-average risk-free interest rate

 

 

 

1.28

 

%

 

 

2.42

 

%

 

 

2.56

 

%

Expected dividend yield

 

 

 

 

%

 

 

 

%

 

 

 

%

Expected option term (in years)

 

 

 

5.99

 

 

 

 

6.00

 

 

 

 

6.04

 

 

Volatility

 

 

 

78.27

 

%

 

 

91.35

 

%

 

 

90.26

 

%

Summary of Stock-based Compensation Expense for Stock Options and Restricted Stock Units

The following table summarizes the stock-based compensation expense for stock options, restricted stock units and restricted common stock granted to employees and non-employees and from the 2016 ESPP recorded in the Company’s statements of operations:

 

 

 

Year Ended December 31,

 

 

 

 

2020

 

 

2019

 

 

2018

 

 

Research and development

 

$

4,732

 

 

$

3,472

 

 

$

2,412

 

 

General and administrative

 

 

6,207

 

 

 

6,367

 

 

 

4,198

 

 

Total stock-based compensation expense

 

$

10,939

 

 

$

9,839

 

 

$

6,610