v3.26.1
Stock-based Compensation
12 Months Ended
Dec. 31, 2025
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 during the years ended December 31, 2025, and 2024. The following table summarizes stock option activity for the year ended December 31, 2025:

 

  

Number of

Options

  

Weighted-

Average

Exercise

Price

  

Weighted-

Average

Remaining

Contractual Term

(Years)

  

Aggregate

Intrinsic

Value

 
Outstanding - January 1, 2025   34,046   $30.55         - 
Forfeited or expired   (188)   2,350.64           
Outstanding - December 31, 2025   33,858    17.67    5.72   $- 
Exercisable - December 31, 2025   30,961    18.95    5.60   $- 

 

The Company records stock-based compensation expense related to stock options based on their grant-date fair value. As of December 31, 2025, there was an immaterial amount of unrecognized stock-based compensation expense related to unvested stock options granted under the Company’s Incentive Plan.

 

The following table presents total stock-based compensation expense for the years ended December 31, 2025, and 2024:

 

   2025   2024 
   Year Ended December 31, 
   2025   2024 
Research and development  $-   $149 
General and administrative   25    362 
Total stock-based compensation expense  $25   $511