Company: PGEN
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001356090-25-000007
Chunk: 201

Company: PRECIGEN, INC.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 12
Chunk 201
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)(4.29)Forfeited(32,712)(7.26)Balances at December 31, 2022697,815 2.66 0.13Granted4,083,777 1.01 Vested(3,820,058)(1.27)Forfeited— — Balances at December 31, 2023961,534 1.17 0.19Granted7,769,484 1.29 Vested(4,726,961)(1.37)Forfeited— — Balances at December 31, 20244,004,057 1.16 0.55Total unrecognized compensation costs related to unvested RSU awards as of December 31, 2024 were $292 and are expected to be recognized over a weighted-average period of approximately 0.3 years. As of December 31, 2024, the underlying performance milestone relating to the Company's submission of a BLA to the FDA was considered probable of achievement and stock-based compensation expense was recognized during the year ended December 31, 2024 related to this milestone. The underlying performance milestone related to the approval of the BLA by the FDA was determined to be not probable of achievement, as such approval is outside of the Company's control. Therefore, no stock-based compensation expense was recognized for this performance milestone during the year ended December 31, 2024.Precigen uses treasury shares (to the extent available) and authorized and unissued shares to satisfy share award vesting.

F-40

14. Operating Leases

The Company leases certain facilities and equipment under operating leases. Leases with a lease term of twelve months or less are considered short-term leases and are not recorded on the balance sheet, and expense for these leases is recognized over the term of the lease. All other leases have remaining terms of less than one year to six years, some of which may include options to extend the lease and some of which may include options to terminate the lease within one year. The Company uses judgment to determine whether it is reasonably possible to extend the lease beyond the initial term or terminate before the initial term ends and the length of the possible extension or early termination. The leases are renewable at the option of the Company and do not contain residual value guarantees, covenants, or other restrictions.The components of lease costs were as follows:Year Ended December 31,202420232022Operating lease costs$2,