v3.26.1
Stock-based Compensation
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation

8. Stock-based Compensation

 

The Company sponsored the Pulmatrix, Inc. Amended and Restated 2013 Employee, Director and Consultant Equity Incentive Plan (the “Incentive Plan”), which expired on June 10, 2025. No new awards may be made under the Incentive Plan after its expiration date. Awards issued under the Incentive Plan prior to its expiration remain outstanding in accordance with their terms.

 

No stock options were granted or exercised during the three months ended March 31, 2026. The following table summarizes stock option activity for the three months ended March 31, 2026:

 

  

Number of

Options

  

Weighted-

Average

Exercise

Price

  

Weighted-

Average

Remaining

Contractual Term

(Years)

  

Aggregate

Intrinsic

Value

 
Outstanding — January 1, 2026   33,858   $17.67              -    
Forfeited, cancelled and expired   (1,569)  $48.53           
Outstanding — March 31, 2026   32,289   $16.17    5.54   $- 
Exercisable — March 31, 2026   30,136   $17.04    5.45   $- 

 

The Company records stock-based compensation expense related to stock options based on their grant-date fair value. As of March 31, 2026, there was an immaterial amount of unrecognized stock-based compensation expense related to unvested stock options granted under the Incentive Plan. During the three months ended March 31, 2026, and 2025, the Company recognized $3 thousand and $8 thousand of stock-based compensation expense, all of which was classified within general and administrative expense.