Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.20.4
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Fair Value of Options Estimated on Date of Grant Using Black-Scholes Option Pricing Model Under the 2019 Plan, the fair value of the Baudax Bio options was estimated on the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:

 

 

December 31,

 

 

 

2020

 

 

2019

 

Expected option life

 

5.7 years

 

 

6 years

 

Expected volatility

 

74.24%

 

 

77.81%

 

Risk-free interest rate

 

0.50%

 

 

1.68%

 

Expected dividend yield

 

 

—

 

 

 

—

 

 

 

Under the Recro equity incentive plan for the year ended December 31, 2019, the fair value of the options granted to employees of the Company was estimated on the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:

 

 

 

December 31,

 

 

 

2019

 

Expected option life

 

6 years

 

Expected volatility

 

79.96%

 

Risk-free interest rate

 

2.60%

 

Expected dividend yield

 

 

—

 

 
Summary of Stock Option Activity

The following table summarizes the Baudax Bio stock option activity during the years ended December 31, 2020 and 2019:

 

 

 

Number of

shares

 

 

Weighted

average

exercise

price

 

 

Weighted

average

remaining

contractual life

Balance, December 31, 2018

 

 

—

 

 

$

—

 

 

 

Granted

 

 

643,879

 

 

 

6.33

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

Expired/forfeited/cancelled

 

 

—

 

 

 

—

 

 

 

Balance, December 31, 2019

 

 

643,879

 

 

 

6.33

 

 

9.9 years

Granted

 

 

1,931,919

 

 

 

2.15

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

Expired/forfeited/cancelled

 

 

(291,500

)

 

 

3.87

 

 

 

Balance, December 31, 2020

 

 

2,284,298

 

 

$

3.10

 

 

9.1 years

Vested

 

 

160,965

 

 

$

6.33

 

 

8.7 years

Vested and expected to vest

 

 

2,284,298

 

 

$

3.10

 

 

9.1 years
Summary of Restricted Stock Units Activity

The following table summarizes the Baudax Bio restricted stock units activity during the year ended December 31, 2020 and 2019:

 

 

Number of shares

 

Balance, December 31, 2018

 

—

 

Granted

 

1,380,030

 

Vested and settled

 

—

 

Expired/forfeited/cancelled

 

—

 

Balance, December 31, 2019

 

1,380,030

 

Granted

 

741,221

 

Vested and settled

 

(1,052,239

)

Expired/forfeited/cancelled

 

(78,000

)

Balance, December 31, 2020

 

991,012

 

Expected to vest

 

991,012