Quarterly report pursuant to Section 13 or 15(d)

STOCK BASED COMPENSATION

v3.22.1
STOCK BASED COMPENSATION
3 Months Ended
Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]  
STOCK BASED COMPENSATION

NOTE 4 - STOCK BASED COMPENSATION

 

Stock-based compensation expenses incurred for employees (and directors) and non-employees for the period of three months ended March 31, 2022, amounted to $857.

 

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.

 

 

TODOS MEDICAL LTD.

 

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Cont.)

(U.S. dollars in thousands)

 

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 March 31, 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 three months ended March 31, 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  
Exercisable as of March 31, 2022     2,138,525       0.053  
                 
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  
Exercisable as of March 31, 2021     254,508       0.095  

 

As of March 31, 2022, the aggregate intrinsic value for the stock options outstanding and exercisable according to $0.02 price per share is $0, with a weighted average remaining contractual life of 4.2 years.

 

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 three months ended March 31, 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  
Weighted average grant date fair value of restricted stock awards granted during the period   0.029  
         
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  

 

 

TODOS MEDICAL LTD.

 

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Cont.)

(U.S. dollars in thousands)