Company: WHWK
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023932
Chunk: 268

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 268
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 future awards under the 2021 Plan, respectively. As of March 31, 2025 and December 31, 2024, 110,000 shares were reserved for future awards under the 2023 Inducement Plan.Restricted Stock UnitsRestricted stock consists of restricted stock unit awards (RSUs) which have been granted to employees. The value of an RSU award is based on the Company’s stock price on the date of grant. Employee grants vest over four years. Forfeitures 

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of RSUs are recognized as they occur. The shares underlying the RSU awards are not issued until the RSUs vest. Upon vesting, each RSU converts into one share of the Company’s common stock.Activity with respect to the Company’s restricted stock units during the three months ended March 31, 2025 is as follows:SharesWeighted AverageGrant Date Fair ValueNonvested shares at December 31, 2024256,490 $1.92 Granted— — Vested/Issued(63,250)1.92 Forfeited(31,519)1.92 Nonvested shares at March 31, 2025161,721 $1.92 As of March 31, 2025, there was $0.3 million of unrecognized compensation cost related to restricted stock units, which is expected to be recognized over a weighted average period of 2.92 years. Compensation Expense Summary The Company recognized the following compensation cost related to employee and non-employee share-based compensation activity for the periods presented (in thousands): Three Months Ended March 31,20252024Selling, general and administrative$983 $2,342 Research and development697 1,247 Total$1,680 $3,589 The Company uses the Black-Scholes option pricing model to determine the estimated fair value for share-based option awards. Option pricing and models require the input of various assumptions, including the option’s expected life, expected dividend yield, price volatility and risk-free interest rate of the underlying stock. Forfeitures are recognized and accounted for as they occur.The calculation was based on the following assumptions: Three Months Ended March 31,20252024Weighted average grant date fair value (per share)$1.76$1.43Risk-free interest rate4.02% - 4.02%4.13% - 4.14%Expected volatility89.48% - 89.