Annual report [Section 13 and 15(d), not S-K Item 405]

Note 15 - Stock-based Compensation (Tables)

v3.26.1
Note 15 - Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Notes To Financial Statements [Abstract]  
Share-based Payment Arrangement, Option, Activity

Stock option activity for the year ended December 31, 2025 is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options

 

 

Weighted average
exercise price

 

 

Weighted
average
remaining
contractual
life (years)

 

 

Aggregate
intrinsic
value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2024

 

 

39,489

 

 

$

1,170.30

 

 

 

 

 

 

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(2,119

)

 

 

1,493.05

 

 

 

 

 

 

 

Outstanding, December 31, 2025

 

 

37,370

 

 

$

1,159.30

 

 

 

5.6

 

 

$

 

Exercisable, December 31, 2025

 

 

29,774

 

 

$

1,398.48

 

 

 

5.1

 

 

$

 

Vested and expected to vest, December 31, 2025

 

 

35,499

 

 

$

1,209.37

 

 

 

5.5

 

 

$

 

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following table presents the weighted average assumptions that were used in the Black‑Scholes option pricing model to determine the fair value of stock options granted during the prior period, and the resultant weighted average fair values:

 

 

Year ended December 31, 2024

 

Risk-free interest rate

 

 

4.07

%

Expected dividend yield

 

 

 

Expected volatility

 

 

83.1

%

Expected life of options (years)

 

 

5

 

Grant date fair value

 

$

40.80

 

Schedule of Share-based Payment Award, Options, Grants in Period

The following table presents the vesting terms of options granted in the prior period:

 

 

 

Year ended December 31, 2024

 

 

 

 

 

 

Options

 

3-year vesting (50%-25%-25%)

 

 

667

 

4-year vesting (50%-16 2/3%-16 2/3%-16 2/3%)

 

 

12,939

 

Total stock options granted in the year

 

 

13,606

 

Share-based Payment Arrangement, Expensed and Capitalized, Amount

The Company recorded share-based compensation expense related to stock options as follows:

 

 

Year ended December 31, 2025

 

 

Year ended December 31, 2024

 

Research and development

 

$

182

 

 

$

346

 

General and administrative

 

 

295

 

 

 

714

 

Total

 

$

477

 

 

$

1,060