Company: ANTX
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000950170-25-044366
Chunk: 184

Company: AN2 Therapeutics, Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1B
Chunk 184
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’s common stock on the grant date.A summary of the RSU activity is as follows: 

        `
         
        Number of Units

        Weighted-AverageGrant Date Fair Value

        Unvested at December 31, 2023

        —

        $
        —

        Issued

        762,346

        2.59

        Vested and released

        (38,556
        )

        2.96

        Forfeited

        (207,279
        )

        2.63

        Unvested at December 31, 2024

        516,511

        $
        2.54

      As of December 31, 2024, there was unrecognized stock-based compensation expense of $0.9 million related to unvested restricted stock units which the Company expects to recognize over a weighted-average period of 2.3 years.RSA ActivityRSAs entitle the holder to receive shares of the Company’s common stock upon vesting. The fair value of RSAs is based upon the closing sales price of the Company’s common stock on the grant date.A summary of the RSA activity is as follows:

        Number of Units

        Weighted-AverageGrant Date Fair Value

        Unvested at December 31, 2023

        —

        $
        —

        Issued

        40,003

        1.27

        Vested and released

        (40,003
        )

        1.27

        Forfeited

        —

        —

        Unvested at December 31, 2024

        —

        $
        —

F-21

AN2 Therapeutics, Inc.Notes to Financial Statements — Continued 

As of December 31, 2024, there was no unrecognized stock-based compensation expense related to unvested restricted stock awards.Liability for Early Exercise of Stock OptionsThe Company’s 2017 Plan permitted early exercise of certain stock options prior to vesting to certain directors, officers, and employees. Any shares issued pursuant to unvested options are restricted and subject to repurchase by the Company until the conditions for vesting are met. The amounts paid for shares purchased under an early exercise of stock options and subject to repurchase by the Company are reported as options subject to repurchase, short and long-term on the balance sheet and is reclassified to common stock and additional paid-in capital as such shares vest. Upon termination of employment of an option-holder