Company: BOLT
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0000950170-25-043873
Chunk: 183

Company: Bolt Biotherapeutics, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 1B
Chunk 183
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 history, the expected term of the Company’s employee stock options has been determined utilizing the simplified method for awards that qualify as plain-vanilla options, which use the midpoint between the vesting date and the expiration date of each option. Expected Volatility–The estimated volatility was based on the historical volatility of the common stock of a group of publicly traded companies deemed comparable to the Company. Risk-Free Interest Rate–The risk-free interest rate is the implied yield in effect at the time of the option grant based on 

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U.S. Treasury securities with contract maturities equal to the expected term of the Company’s stock options. Dividend Rate–The Company has not paid any cash dividends on common stock since inception and does not anticipate paying any dividends in the foreseeable future. Consequently, an expected dividend yield of zero was used. Fair Value of Common Stock– The fair value of the Company’s common stock is determined by the closing price, on the date of grant, of its common stock, which is traded on the Nasdaq Capital Market.Stock-Based Compensation Expense The following table summarizes the components of stock-based compensation expense recognized in the Company’s statement of operations and comprehensive loss (in thousands):  

        Years Ended December 31,

        2024

        2023

        Research and development
         
        $
        3,152

        $
        3,702

        General and administrative

        4,255

        5,521

        Total
         
        $
        7,407

        $
        9,223

       Restricted Stock UnitsIn December 2021, the Company issued 336,000 restricted stock units under the 2021 Plan at a grant date fair value of $4.51 per share. These restricted stock units vested in equal quarterly installments over three years, subject to the employee's continued employment with, or services to, the Company on each vesting date. Each restricted stock unit represents the right to receive one share of the Company's common stock when and if the applicable vesting conditions are satisfied. The following table summarizes the activity of the restricted stock units during the year ended December 31, 2024:  

        RSU Outstanding

        Weighted-average Grant Date Fair Value

        Outstanding at December 31, 2023

        52,533

        $
        4.51

        Granted

        —

        Vested

        (41,713
        )
         
        $
        4