Company: ADPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030913
Chunk: 191

Company: Adaptive Biotechnologies Corp
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1B
Chunk 191
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03

        Restricted stock units forfeited

        (2,525,936
        )

        7.91

        Restricted stock units vested

        (2,587,680
        )

        11.28

        Nonvested restricted stock units outstanding at December 31, 2024

        10,174,852

        $
        7.20

      The total fair value of restricted stock units vested during the year ended December 31, 2024, 2023 and 2022 was $10.6 million, $12.0 million and $3.5 million, respectively.Market-Based Restricted Stock UnitsCertain of our executive officers have been granted awards of market-based restricted stock units. The number of shares of common stock that may be earned under the respective awards range from zero shares to a defined maximum number of shares and are calculated based on our total shareholder return during a three-year performance period as measured against that of the group of companies comprising the S&P Biotechnology Select Industry Index as of the grant date or other applicable date, subject to certain adjustments to such index group. Except as expressly provided in the terms of each award's agreement, vesting is subject to the respective grantee's continuous service through the end of the three-year performance period.Market-based restricted stock unit activity under the 2019 Plan during the year ended December 31, 2024 was as follows: 

        Maximum Market-Based Restricted Stock Units Outstanding

        Weighted-Average Grant DateFair Value per Share

        Nonvested maximum market-based restricted stock units outstanding at December 31, 2023

        1,912,674

        $
        15.13

        Maximum market-based restricted stock units granted

        2,214,020

        6.49

        Maximum market-based restricted stock units forfeited

        (295,580
        )

        6.49

        Nonvested maximum market-based restricted stock units outstanding at December 31, 2024

        3,831,114

        $
        10.80

      Grant Date Fair Value of Stock Options, Restricted Stock Units and Market-Based Restricted Stock Units GrantedThe estimated grant date fair values of stock options granted during the years ended December 31, 2024, 2023 and 2022 were estimated using the Black-Scholes option-pricing model with the following assumptions:  

        Year Ended December 31,

        2024