Kiora Pharmaceuticals, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)

3 Months Ended

Mar. 31, 2020

The following is a summary of stock option activity for the three months ended March 31, 2020 and 2019:


				Weighted-Average
	Number of	Weighted- Average		Contractual Life
	Options	Exercise Price		(In Years)
Outstanding at December 31, 2019	174,175	$	27.42	6.22
Granted	75,665		6.55
Expired	(8,812)		11.06
Forfeited	(3,333)		7.20
Outstanding at March 31, 2020	237,695	$	21.67	7.53
Exercisable at March 31, 2020	137,846	$	32.33	6.05
Vested and Expected to Vest at March 31, 2020	237,695	$	21.67	7.53

Outstanding at December 31, 2018	138,324	$	34.17	5.95
Granted	49,994		7.20
Expired	(3,237)		16.25
Outstanding at March 31, 2019	185,081	$	27.20	6.60
Exercisable at March 31, 2019	106,138	$	40.53	5.46
Vested and Expected to Vest at March 31, 2019	185,081	$	27.20	6.60

Schedule of weighted average assumptions

For the three months ended March 31, 2020 and 2019, the fair value of each option grant has been estimated on the date of grant using the Black-Scholes Option Pricing Model with the following weighted-average assumptions:


	2020		2019
Risk-Free Interest Rate	1.82	%	1.82	%
Expected Life	5.00	years	5.00	years
Expected Volatility	155	%	152	%
Expected Dividend Yield	0	%	0	%

Schedule of restricted stock activity

The following is a summary of restricted stock activity for the three months ended March 31, 2020 and 2019:


				Weighted- Average
	Number of	Weighted- Average		Remaining
	Shares	Grant Date Fair Value		Recognition Period
Non-vested Outstanding at December 31, 2019	50,187	$	8.64	1.49
Awarded	49,000		6.55
Vested	(8,159)		9.07
Non-vested Outstanding at March 31, 2020	91,028	$	7.47	2.11
Non-vested Outstanding at December 31, 2018	121,478	$	8.84	2.25
Vested	(534)		22.81
Non-vested Outstanding at March 31, 2019	120,944	$	8.78	2.01

Schedule of stock-based compensation expense

restricted shares of Common Stock, respectively. All grants of restricted shares were pursuant to the 2014 Plan. These vest with respect to one-third of the underlying shares on the one-year anniversary of the grant date and the remainder ratably over a 24-month period.

The total stock-based compensation expense for employees and non-employees is included in the accompanying Condensed Consolidated Statements of Operations and as follows:


	Three Months Ended March 31,
	2020		2019
Research and Development	$	45,653	$	64,539
General and Administrative		100,267		168,367
Total Stock-Based Compensation Expense	$	145,920	$	232,906