v3.26.1
Stock-based Compensation
 6 Months Ended
Jun. 30, 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 six months ended June 30, 2026. The following table summarizes stock option activity for the six months ended June 30, 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 — June 30, 2026   32,289   $16.17    5.29   $- 
Exercisable — June 30, 2026   30,858   $16.73    5.23   $- 

 

The Company records stock-based compensation expense related to stock options based on their grant-date fair value. As of June 30, 2026, there was an immaterial amount of unrecognized stock-based compensation expense related to unvested stock options granted under the Incentive Plan. The Company recognized stock-based compensation expense, all classified within general and administrative expense, of $2 thousand and $6 thousand during the three months ended June 30, 2026 and 2025, respectively, and $5 thousand and $14 thousand during the six months ended June 30, 2026 and 2025, respectively.