Company: INKT
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0000950170-25-041379
Chunk: 151

Company: MiNK Therapeutics, Inc.
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1B
Chunk 151
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75

        Outstanding at December 31, 2024

        895,002

        17.70

        6.98

        $
        1,398,784

        Vested or expected to vest at December 31, 2024

        895,002

        17.70

        6.98

        $
        1,398,784

        Exercisable at December 31, 2024

        634,757

        $
        14.60

        6.71

        $
        1,398,784

      The weighted average grant-date fair values of options granted during the years ended December 31, 2024 and 2023, was $6.86 and  $17.80, respectively. During both 2024 and 2023, all options were granted with exercise prices equal to the market value of the underlying shares of common stock on the grant date except certain awards dated January 16, 2024. In January 2024, the Company's Board of Directors approved certain awards. However, the awards were not communicated to employees until May 2024. Accordingly, these awards have a grant date of May 2024, with an exercise price as of the date the Board of Directors approved the awards in January 2024. The aggregate intrinsic value in the table above represents the difference between the Company's closing stock price on the last trading day of fiscal 2024 and the exercise price, multiplied by the number of in-the-money options that would have been received by the option holders had all option holders exercised their options on December 31, 2024 (the intrinsic value is considered to be zero if the exercise price is greater than the closing stock price). This amount changes based on the fair market value of the Company's stock. The total intrinsic value of options exercised during the year ended December 31, 2024, determined on the dates of exercise, was approximately $63,000.As of December 31, 2024, there was $2.3 million of unrecognized share-based compensation expense related to stock options granted to employees, consultants and directors which, if all milestones are achieved on outstanding performance based awards, will be recognized over a weighted average period of 1.1 years. For awards with performance conditions, expense is recognized if the achievement of underlying performance conditions is deemed probable.A summary of non-vested stock activity for 2024 is presented below: