Company: IMRX
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001790340-25-000104
Chunk: 375

Company: Immuneering Corp
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 375
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the "Inducement Award Plan"), without stockholder approval pursuant to Rule 5635(c)(4) of the Nasdaq Stock Market LLC listing rules. The Inducement Award Plan provides for the grant of non-qualified stock options, stock appreciation rights, restricted stock awards, restricted stock units, and other stock-based awards. The number of shares reserved for issuance under the Inducement Award Plan was initially equal to 500,000 shares. Shares issued under the Inducement Award Plan may be authorized but unissued shares, shares purchased on the open market or treasury shares. If an award under the Inducement Award Plan expires, lapses or is terminated, exchanged for or settled in cash, surrendered, repurchased, cancelled without having been fully exercised/settled or forfeited, any unused shares subject to the award will, as applicable, become or again be available for new grants under the Inducement Award Plan. As of June 30, 2025, there were 382,000 shares available for future issuance under the Inducement Award Plan.The Company recognized stock-based compensation expense of $1,524,943 and $3,217,210 during the three and six months ended June 30, 2025, respectively. During the three and six months ended June 30, 2024, the Company recognized stock-based compensation expense of $1,661,749 and $3,136,507, respectively. As of June 30, 2025, compensation expense remaining to be recognized for outstanding stock options was $8,932,366 and to be recognized over a weighted-average period of 2.55 years.The fair value of options granted is calculated on the grant date using the Black-Scholes option valuation model. Prior to the Company’s IPO on August 3, 2021, the Company was a private company and thus lacks company-specific historical and implied volatility information. Therefore, it estimates its expected stock volatility based on the historical volatility of a publicly traded set of peer companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own publicly traded stock price. For the six months ended June 30, 2025, the Company granted 2,317,294 shares of stock options at a weighted-average grant date fair value of $1.89.

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The Company used the following assumptions in its application of the Black-Scholes option pricing model for grants during the six months ended June 30, 2025