v3.25.2
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Options Issued and Outstanding Activities

Lucid Diagnostics stock options granted under the Lucid Diagnostics 2018 Equity Plan and stock options granted outside such plan are summarized as follows:

 

   Number of Stock Options   Weighted Average Exercise Price   Remaining Contractual Term (Years)   Intrinsic Value(2) 
Outstanding stock options at December 31, 2024   8,646,758   $1.68    8.1   $199 
Granted(1)   1,471,000   $1.46           
Exercised   (10,891)  $1.23           
Forfeited   (274,837)  $1.48           
Outstanding stock options at June 30, 2025(3)   9,832,030   $1.66    7.8   $446 
Vested and exercisable stock options at June 30, 2025   6,019,811   $1.87    7.2   $373 

 

(1)Stock options granted under the Lucid Diagnostics 2018 Equity Plan and those granted outside such plan generally vest one-third in one year then ratably over the next eight quarters, and have a ten-year contractual term from date-of-grant.
  
(2)The intrinsic value is computed as the difference between the quoted price of the Lucid Diagnostics common stock on each of June 30, 2025 and December 31, 2024 and the exercise price of the underlying Lucid Diagnostics stock options, to the extent such quoted price is greater than the exercise price.
  
(3)The outstanding stock options presented in the table above are inclusive of 523,300 stock options granted outside the Lucid Diagnostics 2018 Equity Plan, as of June 30, 2025 and December 31, 2024.
Schedule of Restricted Stock Award Activity

Lucid Diagnostics restricted stock awards granted under the Lucid Diagnostics 2018 Equity Plan and restricted stock awards granted outside such plan are summarized as follows:

 

   Number of Restricted Stock Awards   Weighted Average Grant Date Fair Value 
Unvested restricted stock awards as of December 31, 2024   3,897,440   $5.77 
Granted   2,686,800    1.49 
Vested   —    — 
Forfeited   —    — 
Unvested restricted stock awards as of June 30, 2025   6,584,240   $4.02 
Schedule of Stock-Based Compensation Expense

The stock-based compensation expense recognized by the Company for both the Lucid Diagnostics 2018 Equity Plan and the PAVmed 2014 Equity Plan, for the periods indicated, was as follows:

 

   2025   2024   2025   2024 
  

Three Months Ended

June 30,

  

Six Months Ended

June 30,

 
   2025   2024   2025   2024 
Lucid Diagnostics 2018 Equity Plan – cost of revenue  $38   $33   $71   $58 
Lucid Diagnostics 2018 Equity Plan – sales and marketing   245    326    466    597 
Lucid Diagnostics 2018 Equity Plan - general and administrative   740    609    1,341    937 
Lucid Diagnostics 2018 Equity Plan - research and development   119    138    214    258 
PAVmed 2014 Equity Plan - cost of revenue   —    11    38    22 
PAVmed 2014 Equity Plan - sales and marketing   —    39    19    118 
PAVmed 2014 Equity Plan - general and administrative   1    1    1    4 
PAVmed 2014 Equity Plan - research and development   —    44    24    141 
Total stock-based compensation expense  $1,143   $1,201   $2,174   $2,135 
Schedule of Unrecognized Compensation Expense and Weighted Average Remaining Service Period

As of June 30, 2025, unrecognized stock-based compensation expense and weighted average remaining requisite service period with respect to stock options and restricted stock awards issued under each of the Lucid Diagnostics 2018 Equity Plan and the PAVmed 2014 Equity Plan, as discussed above, is as follows:

 

   Unrecognized Expense   Weighted Average Remaining Service Period (Years) 
Lucid Diagnostics 2018 Equity Plan          
Stock Options  $3,089    1.8 
Restricted Stock Awards  $4,603    2.1 
PAVmed 2014 Equity Plan          
Stock Options  $4    1.5 
Schedule of Stock-based Compensation Valuation Assumptions

 

   2025   2024 
   Six Months Ended June 30, 
   2025   2024 
Expected term of stock options (in years)   5.8    5.7 
Expected stock price volatility   68%   74%
Risk free interest rate   4.4%   4.4%
Expected dividend yield   —%   —%