Company: INKT
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0000950170-25-041379
Chunk: 152

Company: MiNK Therapeutics, Inc.
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1B
Chunk 152
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        NonvestedShares

        WeightedAverageGrant DateFair Value

        Outstanding at December 31, 2023

        78,950

        $
        11.81

        Granted

        31,869

        8.57

        Vested

        (30,173
        )

        9.83

        Forfeited

        —

        —

        Outstanding at December 31, 2024

        80,646

        $
        11.25

      As of December 31, 2024, there was $0.7 million of unrecognized share-based compensation expense related to these non-vested shares which will be recognized over a weighted average period of 3.7 years. The total intrinsic value of shares vested during the year ended December 31, 2024 was $275,000.The Company issues new shares upon option exercises the vesting of non-vested stock and purchases under the ESPP. During the years ended December 31, 2024 and 2023, 7,423 shares and 10,518 shares, respectively, were issued as a result of stock option exercises. During the years ended December 31, 2024 and 2023, 30,173 shares and 17,519 shares, respectively, were issued as a result of the vesting of non-vested stock. During the years ended December 31, 2024 and 2023, 1,539 shares and 3,934 shares, respectively, were issued under the ESPP. Additionally, during the year ended December 31, 2023, 60,383 shares were issued as payment for certain employee bonuses, with 20,587 of those shares being withheld to cover taxes, resulting in a net share issuance of 39,796 shares.

 80

Stock based compensation expense also includes expense related to awards granted to employees of the Company from the Agenus 2019 Equity Incentive Plan. The impact on the Company’s results of operations from share-based compensation for the year ended December 31, 2024 and 2023, was as follows (in thousands):  

        2024

        2023

        Research and development
         
        $
        904

        $
        541

        General and administrative

        1,938

        3,289

        Total share-based compensation expense
         
        $
        2,