Company: MBIO
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001104659-25-009408
Chunk: 260

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 260
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31 |
| Outstanding at December 31, 2022                    |   |         1,521 | ​ | $                | 4,297.50 |   |                 4.31 |
| Outstanding at December 31, 2023                    |   |         1,521 | ​ | $                | 4,297.50 |   |                 3.31 |
| Options vested and exercisable at December 31, 2023 |   |           951 | ​ | $                | 4,297.50 |   |                 3.31 |

As of December 31, 2023, the Company had unrecognized stock-based compensation expense related to options. The Company accounts for forfeited awards as they occur as permitted.

Restricted Stock Awards

Certain employees and directors have been awarded restricted stock. The restricted stock vesting consists of milestone and time-based vesting. The following table summarizes restricted stock award activities for the years ended December 31, 2023 and 2022:

| ​                              
 ​                              
 ​                              
 ​                              | ​ 
 ​ 
 ​ |                ​ 
                ​ 
                ​ 
 Number of Shares | ​ 
 ​ 
 ​ | ​                
 Weighted Average 
 Grant Date Fair  
 Value            |        ​ |
|:-------------------------------|:--|-----------------:|:--|:-----------------|---------:|
| Nonvested at December 31, 2021 |   |              369 | ​ | $                | 3,034.04 |
| Granted                        | ​ |              475 | ​ | ​                |   523.50 |
| Vested                         | ​ |             -169 | ​ | ​                | 3,671.23 |
| Nonvested at December 31, 2022 |   |              675 | ​ | $                | 1,107.83 |
| Granted                        |   |              720 | ​ |                  |   345.00 |
| Vested                         | ​ |             -110 | ​ | ​                | 2,310.00 |
| Nonvested at December 31, 2023 |   |            1,285 | ​ | $                |   577.50 |

As of December 31, 2023, the Company had unrecognized stock-based compensation expense related to restricted stock of $ million, which is expected to be recognized over a weighted average period of approximately years.

F-26

Restricted Stock Units