Company: RNAC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001453687-25-000120
Chunk: 56

Company: Cartesian Therapeutics, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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 be recognized over a weighted average period of 2.8 years.The following table summarizes the stock option activity under the 2016 Plan, the 2018 Inducement Incentive Award Plan, and the Old Cartesian Plan for options for common stock: Number of common stock optionsWeighted-average exercise price ($)Weighted-average remaining contractual term (in years)Aggregate intrinsic value (in thousands)Outstanding at December 31, 20241,706,035 $11.99 7.59$12,025 Granted1,055,709 $16.87   Exercised(82,944)$3.29   Forfeited(245,144)$17.74   Outstanding at September 30, 20252,433,656 $13.83 7.25$5,087 Vested at September 30, 2025895,577 $7.76 4.83$4,698 Vested and expected to vest at September 30, 20252,189,301 $13.40 7.18$5,085 

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Restricted Stock UnitsDuring the nine months ended September 30, 2025, the Company granted 256,790 restricted stock unit awards with a weighted-average fair value of $16.93 per share based on the closing price of the Company’s common stock on the date of grant under the 2016 Plan, which generally vest over a four-year term. Forfeitures are estimated at the time of grant and are adjusted, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company has estimated a forfeiture rate of 10% for restricted stock unit awards based on historical experience.Unrecognized compensation expense related to the restricted stock units was $5.9 million as of September 30, 2025, which is expected to be recognized over a weighted-average period of 2.5 years.The following table summarizes the Company’s restricted stock units under the 2016 Plan and the Old Cartesian Plan: Number of sharesWeighted-averagegrant datefair value ($)Unvested at December 31, 2024444,238 $19.86 Granted256,790 16.93 Vested(153,293)19.86 Forfeited(24,481)17.07 Unvested at September 30, 2025523,254 $18.55