Company: ADPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030913
Chunk: 193

Company: Adaptive Biotechnologies Corp
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 193
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 of time consistent with our estimate of expected term.Expected dividend yield—We do not anticipate paying any cash dividends in the foreseeable future and, therefore, use an expected dividend yield of zero in the option valuation model. The weighted-average grant date fair value per share of stock options granted during the year ended December 31, 2024, 2023 and 2022 was $2.70, $5.61 and $7.36, respectively. The grant date fair value of restricted stock units granted is based on the closing price of our common stock on the date of grant, or other relevant determination date, as reported on The Nasdaq Global Select Market. The weighted-average grant date fair value per share of restricted stock units granted during the year ended December 31, 2024, 2023 and 2022 was $4.03, $8.29 and $11.43, respectively.The weighted-average grant date fair value per share of the market-based restricted stock units granted during the year ended December 31, 2024, 2023 and 2022 was $6.49, $13.82 and $18.89, respectively, and was determined using a Monte Carlo valuation model, which uses assumptions such as volatility, risk-free interest rate and dividend estimated for the respective performance periods. The aggregate share-based compensation expense of the market-based restricted stock units granted during the year ended December 31, 2024, 2023 and 2022 was $7.2 million, $9.8 million and $4.7 million respectively. Aggregate share-based compensation expense is calculated based on the target payout level of shares granted and is recognized on a straight-line basis over the respective grants' performance periods, which are also the requisite service periods. Attainment of each grant's respective market condition and the number of shares earned and vested does not impact the related share-based compensation expense recognized. Share-based compensation expense is reversed only if the respective grantee does not provide continuous service through the respective performance period for reasons other than those expressly provided in the terms of the respective award.The compensation cost related to stock options, restricted stock units and market-based restricted stock units for the years ended December 31, 2024, 2023 and 2022 are included on the consolidated statements of operations as follows (in thousands):  

        Year Ended December 31,

        2024

        2023

        2022

        Cost of revenue
         
        $
        3