Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation

v3.22.1
Stock-Based Compensation
12 Months Ended
Mar. 31, 2022
Stock-Based Compensation  
Stock-Based Compensation

9. Share-Based Compensation

In 2014, the Company’s board of directors adopted the 2014 Equity Incentive Plan (the “2014 Plan”), which was approved by Bionik’s stockholders in 2014. The 2014 Plan provides for the grant of incentive stock options (“ISOs”), as well as nonstatutory options, RSUs and PSUs. The board of directors administers the 2014 Plan and has sole discretion to grant options to purchase shares of Bionik’s common stock, RSUs and PSUs.

The board of directors determines the term of each option, RSU and PSU, option price, number of shares for which each option, RSU and PSU is granted, whether restrictions would be imposed on the shares subject to options and the rate at which each option is exercisable. At March 31, 2022 the number of shares of common stock reserved for issuance under the 2014 Plan is 769,025 shares, or 13% of its issued and outstanding shares at January 1, 2021. Options granted under the 2014 Plan have varying vesting schedules based on the board of directors discretion. As of March 31, 2022, there were 258,556 shares available for future grant under the 2014 Plan.

Stock Options

Stock option activity under the 2014 Plan is as follows:

Weighted-

Weighted-

Average

Average

Remaining

Number of

Exercise Price

Exercise

Contractual

    

Options

    

Range

    

Price

    

Life

Vested

 

669,611

$

3.16 – 183.00

$

9.00

 

5.34 years

Unvested

 

148,531

 

1.21 – 24.15

 

6.11

 

6.22 years

Outstanding, March 31, 2021

 

818,142

$

1.21 – 183.00

$

8.47

 

5.50 years

Issued

273,500

2.10

2.10

Exercised

(180,137)

3.16-3.95

3.56

Forfeited

(134,240)

3.16 - 183.00

14.67

Outstanding, March 31, 2022

777,265

$

1.21 - 183.00

$

6.44

5.34 years

Vested

 

570,068

 

1.21 – 157.50

 

7.86

 

4.91 years

Unvested

 

207,197

 

2.10 – 24.15

 

2.54

 

6.51 years

Vested or expected to vest, March 31, 2022

 

777,265

 

1.21 – 157.50

 

6.44

 

5.34 years

Exercisable, March 31, 2022

 

570,068

$

1.21 – 157.50

$

7.86

 

4.91 years