v3.25.4
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Share-based Payment Arrangement, Option, Activity

The following is a summary of stock option activity from December 31, 2024 to December 31, 2025:

 

 

 

Number of
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term (Years)

 

 

Aggregate
Intrinsic
Value (thousands)

 

Outstanding as of December 31, 2024

 

 

40,042,922

 

 

$

3.81

 

 

7.29

 

 

$

5,119

 

Granted

 

 

18,471,241

 

(i)

 

1.82

 

 

 

-

 

 

 

-

 

Exercised

 

 

(7,923,098

)

 

 

1.32

 

 

 

-

 

 

 

-

 

Cancelled or forfeited

 

 

(7,057,939

)

 

 

5.38

 

 

 

-

 

 

 

-

 

Outstanding as of December 31, 2025

 

 

43,533,126

 

(ii)

$

3.11

 

 

 

7.40

 

 

$

75,466

 

Options exercisable as of December 31, 2025

 

 

19,002,507

 

 

$

4.77

 

 

 

6.13

 

 

$

23,654

 

 

(i)
Includes (a) 13,356,500 stock options that will vest according to certain time-based vesting conditions, (b) 3,568,488 stock options that will vest upon the satisfaction of certain performance obligations, and (c) 1,546,258 stock options issued pursuant to the Beckley Psytech Transaction, all of which are fully vested upon issuance.
(ii)
Includes 22,984,366 outstanding unvested stock options includes (a) 18,299,784 stock options that will continue to vest over various service periods, (b) 3,568,488 stock options that will vest upon the satisfaction of certain performance obligations, (c) 1,116,094 stock options that will vest upon the satisfaction of specified market-based conditions tied to the price of the Company's publicly traded stock.
Summary of Employee Stock Ownership Plan (ESOP) Disclosures

The following is a summary of stock option activity under the HSOP Plan from December 31, 2024 to December 31, 2025:

 

 

 

Number of
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term (Years)

 

 

Aggregate
Intrinsic
Value (thousands)

 

Outstanding as of December 31, 2024

 

 

6,921,829

 

 

$

6.64

 

 

 

11.01

 

 

$

—

 

Granted

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Cancelled or forfeited

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Outstanding as of December 31, 2025

 

 

6,921,829

 

 

$

6.64

 

 

 

10.01

 

 

$

—

 

Options exercisable as of December 31, 2025

 

 

6,921,829

 

 

$

6.64

 

 

 

10.01

 

 

$

—

 

 
Summary of restricted stock unit activity

The following is a summary of restricted stock unit activity from December 31, 2024 to December 31, 2025:

 

 

 

Number of Restricted Stock Units

 

 

Weighted-Average Grant Date Fair Value

 

Unvested at December 31, 2024

 

 

719,557

 

 

$

1.18

 

Granted

 

 

6,971,912

 

 

 

4.48

 

Vested

 

 

(7,691,469

)

 

 

4.17

 

Forfeited

 

 

—

 

 

 

—

 

Unvested at December 31, 2025

 

 

—

 

 

$

—

 
Share-based Payment Arrangement, Expensed and Capitalized, Amount

The following table summarizes the total stock-based compensation expense by function for the year ended December 31, 2025 (in thousands):

 

 

 

Year ended December 31, 2025

 

 

 

atai 2020 and 2021 Incentive Plans

 

 

Other Subsidiary Equity Plans

 

 

Total

 

Research and development

 

$

3,971

 

 

$

33

 

 

$

4,004

 

General and administrative

 

 

10,187

 

 

 

22

 

 

 

10,209

 

Total stock-based compensation expense

 

$

14,158

 

 

$

55

 

 

$

14,213

 

 

The following table summarizes the total stock-based compensation expense by function for the year ended December 31, 2024 (in thousands):

 

 

 

Year ended December 31, 2024

 

 

 

atai 2020 and 2021 Incentive Plans

 

 

atai
HSOP

 

 

Other Subsidiaries Equity Plan

 

 

Total

 

Research and development

 

$

10,247

 

 

$

—

 

 

$

150

 

 

$

10,397

 

General and administrative

 

 

14,963

 

 

 

117

 

 

 

13

 

 

 

15,093

 

Total stock-based compensation expense

 

$

25,210

 

 

$

117

 

 

$

163

 

 

$

25,490

 
Two Thousand And Twenty Incentive Plan [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The Company estimates the fair values of stock options using the Black-Scholes option-pricing model on the date of grant. For the years ended December 31, 2025 and 2024, the assumptions used in the Black-Scholes option pricing model were as follows:

 

 

 

December 31,

 

 

2025

 

2024

Weighted average expected term in years

 

5.44

 

5.95

Weighted average expected stock price volatility

 

91.0%

 

95.7%

Risk-free interest rate

 

3.70% - 4.47%

 

3.53% - 4.40%

Expected dividend yield

 

0%

 

0%