Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024



	Number of Options	Weighted-Average Exercise Price
Balance at December 31, 2023	93,349,943	$	0.3338
Stock options granted	9,695,000		0.1364
Stock options forfeited	11,740,000		0.2326
Vested stock options expired	2,253,000		0.4286
Balance at December 31, 2024	89,051,943	$	0.3232
Vested at December 31, 2024	55,925,830	$	0.3563



	Number of Options	Weighted-Average Exercise Price
Balance at December 31, 2022	84,112,443	$	0.3602
Stock options granted	14,655,000		0.2185
Stock options forfeited	4,352,500		0.3230
Vested stock options expired	1,065,000		0.8744
Balance at December 31, 2023	93,349,943	$	0.3338
Vested at December 31, 2023	40,508,274	$	0.3577

Summary of issued and outstanding stock options


Grant Year	Weighted-Average Exercise Price	Number of Options Issued and Outstanding	Number of Vested Options Outstanding	Number of Unvested Options Outstanding	Weighted-Average Remaining Life Outstanding (Years)
2020	0.20	15,707,224	15,707,224	—	5.59
2021	0.83	18,900,000	15,250,000	3,650,000	6.62
2022	0.27	39,329,719	21,958,606	17,371,113	7.37
2023	0.21	8,290,000	3,010,000	5,280,000	8.64
2024	0.15	6,825,000	—	6,825,000	9.77
Balance at December 31, 2024		89,051,943	55,925,830	33,126,113

Schedule of the continuity of SARs


	Number of SARs	Weighted-Average Exercise Price
Balance at December 31, 2023	—		—
SARs granted (non-employee directors)	13,521,379	$	0.13
Balance at December 31, 2024	13,521,379		0.13
Exercisable at December 31, 2024	—
Vested at December 31, 2024	—

Employee Stock Option

Stock-Based Compensation

Summary of fair value assumptions


Grant Year	Weighted-Average Exercise Price	Number of Options Issued and Outstanding	Number of Vested Options Outstanding	Number of Unvested Options Outstanding	Weighted-Average Remaining Life Outstanding (Years)
2020	0.20	15,707,224	15,707,224	—	5.59
2021	0.83	18,900,000	15,250,000	3,650,000	6.62
2022	0.27	39,329,719	21,958,606	17,371,113	7.37
2023	0.21	8,290,000	3,010,000	5,280,000	8.64
2024	0.15	6,825,000	—	6,825,000	9.77
Balance at December 31, 2024		89,051,943	55,925,830	33,126,113

The fair value of stock options granted during the year ended December 31, 2024, was estimated using the Black-Scholes option pricing model with the following assumptions:


Grant Year	Weighted-Average Volatility		Weighted-Average Risk-Free Interest Rate		Weighted-Average Expected Life (In Years)		Weighted-Average Common Share Price		Weighted-Average Exercise Price
2020	96	%	0.47	%	9.53	$	0.21	$	0.22
2021	117		1.09		6.19		0.65		0.65
2022	112		3.09		5.90		0.26		0.27
2023	108		3.96		6.25		0.21		0.22
2024	87		4.30		6.25		0.13		0.14

Stock Appreciation Rights (SARs)

Stock-Based Compensation

Summary of fair value assumptions

The weighted-average assumptions utilized in the Black-Scholes option-pricing model to estimate the fair value of cash-settled SARs as of December 31, 2024 are summarized in the following table:


	December 31,
	2024
Expected term (years)	5.4
Expected volatility	65.4	%
Risk-free interest rate	4.4	%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Zomedica Corp. 10-K