Company: RNAC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001453687-25-000099
Chunk: 124

Company: Cartesian Therapeutics, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 124
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 options was $15.6 million, which is expected to be recognized over a weighted average period of 3.0 years.The following table summarizes the stock option activity under the 2016 Plan, the 2018 Inducement Incentive Award Plan, and the Old Cartesian Plan for options for common stock:   Weighted-average  Number ofremainingAggregate common stockWeighted-averagecontractual termintrinsic value optionsexercise price ($)(in years)(in thousands)Outstanding at December 31, 20241,706,035 $11.99 7.59$12,025 Granted1,049,959 $16.89   Exercised(81,380)$3.29   Forfeited(177,892)$18.41   Outstanding at June 30, 20252,496,722 $13.88 7.59$5,219 Vested at June 30, 2025837,630 $7.47 5.03$4,638 Vested and expected to vest at June 30, 20252,208,574 $13.39 7.50$5,216 Restricted Stock UnitsDuring the six months ended June 30, 2025, the Company granted 256,790 restricted stock unit awards with a weighted-average fair value of $16.93 per share based on the closing price of the Company’s common stock on the date of grant under the 2016 Plan, which generally vest over a four-year term. Forfeitures are estimated at the time of grant and are adjusted, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company has estimated a forfeiture rate of 10% for restricted stock unit awards based on historical experience.Unrecognized compensation expense related to the restricted stock units was $6.6 million as of June 30, 2025, which is expected to be recognized over a weighted-average period of 2.8 years.

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The following table summarizes the Company’s restricted stock units under the 2016 Plan and the Old Cartesian Plan: Number of sharesWeighted-averagegrant datefair value ($)Unvested at December 31, 2024444,238 $19.86 Granted256,790 16.93 Vested(151,316)19.66 Forfeited(16,381)17.14