Company: RPID
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001380106-25-000200
Chunk: 228

Company: RAPID MICRO BIOSYSTEMS, INC.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 228
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 During the nine months ended September 30, 2025, the Company granted restricted stock units with service-based vesting conditions only. The Company expenses the fair value of the restricted stock units over the expected vesting period and accounts for forfeitures prospectively as they occur. The following table summarizes the Company's restricted stock units activity since December 31, 2024:Number of sharesWeighted average fair valueUnvested as of December 31, 20241,941,688$1.46 Granted2,097,1253.13 Vested(827,918)1.95 Forfeited(232,892)2.68 Unvested as of September 30, 20252,978,003$2.41 The weighted average grant-date fair value per share of restricted stock units granted during each of the three months ended September 30, 2025 and 2024 was $2.93 and $0.78, respectively, and during the nine months ended September 30, 2025 and 2024 was $3.13 and $0.93, respectively. The total fair value of shares vested during the years ended September 30, 2025 and 2024 was $2.4 million and $0.4 million, respectively. 2021 Employee Stock Purchase PlanIn July 2021, the board of directors adopted, and the Company’s stockholders approved, the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), which became effective in connection with the IPO of Class A common stock. The aggregate number of shares of Class A common stock available for issuance under the 2021 ESPP is equal to (i) 400,000 shares and (ii) an annual increase for ten years on the first day of each calendar year beginning on January 1, 2022, equal to the lesser of (A) 1% of the aggregate number of shares of Class A common stock outstanding on the last day of the immediately preceding calendar year and (B) such smaller amount of shares as determined by the board of directors. No more than 6,300,000 shares of Class A common stock may be issued under the 2021 ESPP. Under the 2021 ESPP, eligible employees may purchase shares of the Company’s common stock through payroll deductions of up to 15% of eligible compensation during an offering period. Generally, each offering period will be for 6 months as determined by the