Company: VERA
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029969
Chunk: 158

Company: Vera Therapeutics, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 158
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        Year Ended December 31,

        2024

        2023

        Employees
         
        $
        18,356

        $
        10,494

        Nonemployees

        2,446

        999

        Total stock-based compensation expense
         
        $
        20,802

        $
        11,493

       As of December 31, 2024, the Company had $49.3 million of unrecognized stock-based compensation expense related to unvested stock options, which is expected to be recognized over a weighted-average period of approximately 2.7 years. For the year ended December 31, 2024, the Company recognized $17.1 million of stock-based compensation expense for stock options.As of December 31, 2024, the Company had $18.6 million of unrecognized stock-based compensation expense related to unvested RSUs, which is expected to be recognized over a weighted-average period of approximately 3.5 years. For the year ended December 31, 2024, the Company recognized $3.4 million of stock-based compensation expense for restricted stock units. Stock-based compensation expense related to the ESPP for the years ended December 31, 2024 and 2023 was $0.3 million and $0.2 million, respectively.No tax benefit was recognized related to stock-based compensation expense since the Company has never reported taxable income and has established a full valuation allowance to offset all of the potential tax benefits associated with its deferred tax assets.The fair value of stock options granted during the years ended December 31, 2024 and 2023, was estimated using the Black-Scholes option pricing model based on the following assumptions: 

        Year Ended December 31,

        2024
         
        2023

        Expected term (in years)
         
        5.4 – 6.1
         
        5.5 – 6.1

        Expected volatility
         
        69.7% – 73.2%
         
        79.5% – 80.5%

        Risk-free rate
         
        3.6% – 4.6%
         
        3.4% – 4.7%

        Dividend yield
         
        —
         
        —

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