Company: MBIO
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001410578-25-000028
Chunk: 286

Company: MUSTANG BIO, INC.
Filing Date: 2025-01-15
Form: S-1
Chunk 286
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 to restricted stock of $ million, which is expected to be recognized over the remaining weighted average vesting period of approximately years.

F-44

Restricted Stock Units

Certain employees and consultants have been awarded restricted stock units with time-based vesting. The following table summarizes restricted stock units’ activities for the nine months ended September 30, 2024:

| ​                               
 ​                               
 ​                               
 ​                               | ​ 
 ​ 
 ​ |               ​ 
               ​ 
               ​ 
 Number of Units | ​ 
 ​ 
 ​ | ​                
 Weighted Average 
 Grant Date Fair  
 Value            |     ​ |
|:--------------------------------|:--|----------------:|:--|:-----------------|------:|
| Nonvested at December 31, 2023  |   |          95,197 | ​ | $                | 18.78 |
| Forfeited                       | ​ |         -64,892 | ​ | ​                | 18.19 |
| Vested                          |   |         -18,926 | ​ |                  | 23.26 |
| Nonvested at September 30, 2024 |   |          11,379 | ​ | $                | 14.69 |

As of September 30, 2024, the Company had unrecognized stock-based compensation expense related to restricted stock units of approximately $, which is expected to be recognized over the remaining weighted average vesting period of approximately years.

The following table summarizes stock-based compensation expense for the three and nine months ended September 30, 2024 and 2023 (in thousands):

| ​                                      
 ​                                      | ​ 
 ​ | ​    
 ​    
 2024 |                                        ​ 
 For the three months ended September 30, | ​ | ​    
 2023 |   ​ | ​ | ​    
 ​    
 2024 |                                       ​ 
 For the nine months ended September 30, | ​ | ​    
 2023 |   ​ |
|:---------------------------------------|:--|:-----|-----------------------------------------:|:--|:-----|----:|:--|:-----|----------------------------------------:|:--|:-----|----:|
| General and administrative             | ​ | $    |                                       52 | ​ | $    | 119 | ​ | $    |                                     150 | ​ | $    | 381 |
| Research and development               | ​ |      |                                      -10 | ​ |      | -19 | ​ |      |