Quarterly report pursuant to Section 13 or 15(d)

STOCK BASED COMPENSATION

v3.22.2.2
STOCK BASED COMPENSATION
9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
STOCK BASED COMPENSATION

NOTE 5 - STOCK BASED COMPENSATION

 

Stock-based compensation expenses incurred for employees (and directors) and non-employees for the period of nine and three months ended September 30, 2022, amounted to $2,752 and $633, respectively.

 

A. STOCK OPTIONS

 

On January 11, 2016, the Company’s Board of Directors approved and adopted the Todos Medical Ltd. 2015 Israeli Share Option Plan (the “2015 Plan”), pursuant to which the Company’s Board of Directors may award stock options to purchase its ordinary shares to designated participants. Subject to the terms and conditions of the 2015 Plan, the Company’s Board of Directors has full authority in its discretion, from time to time and at any time, to determine (i) the designate participants; (ii) the terms and provisions of the respective Option Agreements, including, but not limited to, the number of Options to be granted to each Optionee, the number of Shares to be covered by each Option, provisions concerning the time and the extent to which the Options may be exercised and the nature and duration of restrictions as to the transferability or restrictions constituting substantial risk of forfeiture and to cancel or suspend awards, as necessary; (iii) determine the Fair Market Value of the Shares covered by each Option; (iv) make an election as to the type of Approved 102 Option under Israeli IRS law; (v) designate the type of Options; (vi) take any measures, and to take actions, as deemed necessary or advisable for the administration and implementation of the 2015 Plan; (vii) interpret the provisions of the 2015 Plan and to amend from time to time the terms of the 2015 Plan.

 

The 2015 Plan permits grant of up to 6,000,000 options to purchase ordinary shares subject to adjustments set in the 2015 Plan. As of September 30, 2022, there were 2,338,838 ordinary shares available for future issuance under the 2015 Plan.

 

The following table presents the Company’s stock option activity for employees and directors of the Company during the periods of nine months ended September 30, 2022 and 2021:

 

   

Number of

Options

   

Weighted Average

Exercise Price

 
    Unaudited     Unaudited  
Outstanding as of January 1, 2022     16,295,083       0.040  
Granted     -       -  
Forfeited or expired     -       -  
Outstanding as of March 31, 2022     16,295,083       0.040  
Granted     -       -   
Forfeited or expired     -       -   
Outstanding as of June 30, 2022     16,295,083       0.040  
Granted     -       -
Forfeited or expired     -       -  
Outstanding as of September 30, 2022     16,295,083       0.040  
Exercisable as of September 30, 2022     3,768,033       0.050  
                 
Outstanding as of January 1, 2021     3,682,818       0.663  
Granted     -       -  
Forfeited or expired     (1,137,735 )     0.003  
Outstanding as of March 31, 2021     2,545,083       0.095  
Granted     -       -   
Forfeited or expired     -       -   
Outstanding as of June 30, 2021     2,545,083       0.095  
Granted     13,750,000       0.030
Forfeited or expired     -       -   
Outstanding as of September 30, 2021     16,295,083       0.040  

 

As of September 30, 2022, the aggregate intrinsic value for the stock options outstanding and exercisable according to $0.018 price per share is $0, with a weighted average remaining contractual life of 4.3 years.

 

 

 

TODOS MEDICAL LTD.

 

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Cont.)

(U.S. dollars in thousands)

 

B. RESTRICTED STOCK UNITS

 

The Company issues restricted stock units (“RSU”) under the 2015 Plan to employees and non-employees. The following table outlines the restricted stock awards activity for the Company’s during the periods of nine months ended September 30, 2022 and 2021:

 

    Number of RSU’s  
    Unaudited  
Outstanding as of January 1, 2022     41,967,152  
Granted     10,000,000  
Vested     (3,782,699 )
Forfeited or expired     -  
Outstanding as of March 31, 2022     48,184,453  
Granted     -  
Vested     (7,220,199 )
Outstanding as of June 30, 2022     40,964,254  
Granted     14,000,000  
Vested     (8,845,199 )
Outstanding as of September 30, 2022     46,119,055  
Weighted average grant date fair value of restricted stock awards granted during the period     0.022  
         
Outstanding as of January 1, 2021     9,687,500  
Granted     -  
Vested     (1,562,500 )
Forfeited or expired     -  
Outstanding as of March 31, 2021     8,125,000  
Granted     -  
Vested     (1,562,500 )
Forfeited or expired     -  
Outstanding as of June 30, 2021     6,562,500  
Granted     31,034,483  
Vested     (1,562,500 )
Forfeited or expired     -  
Outstanding as of June 30, 2021     36,034,483  

 

Weighted average grant date fair value of restricted stock awards granted during the nine months period ended September 30, 2022 was $0.022.

 

 

TODOS MEDICAL LTD.

 

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Cont.)

(U.S. dollars in thousands)