Annual report pursuant to Section 13 and 15(d)

Share-based compensation (Tables)

v3.19.3.a.u2
Share-based compensation (Tables)
12 Months Ended
Dec. 31, 2019
Share-based compensation  
Schedule of options granted to non-executive directors under the Adaptimmune Therapeutics plc 2015 Share Option Scheme

Options granted to non-executive directors on May 11, 2015:

    

Immediately on grant date

Options granted to a non-executive director on June 23, 2016:

25% on the first anniversary of the grant date and 75% in monthly installments over the following two years

Options granted to non-executive directors on August 11, 2016:

100% on the first anniversary of the grant date

Options granted to non-executive directors on November 28, 2016:

25% on the first anniversary of the grant date and 75% in monthly installments over the following two years

Options granted to non-executive directors on July 3, 2017

100% on the first anniversary of the grant date

Options granted to non-executive directors on June 22, 2018:

100% on the first anniversary of the grant date

Options granted to a non-executive director on July 5, 2018:

25% on the first anniversary of the grant date and 75% in monthly instalments over the following two years

Options granted to non-executive directors on July 2, 2019:

100% on the first anniversary of the grant date

Summary of vesting information

Options granted in 2009:

    

100% on the third anniversary of the grant date

Options granted in 2011, 2012, 2013 and April 2014:

 

25% on the first anniversary of the grant date and 75% in annual installments over the following three years

Options granted in December 2014:

 

25% on the first anniversary of the grant date and 75% in monthly installments over the following three years

Summary of share-based compensation expense included in the unaudited consolidated statements of operations

The following table shows the total share-based compensation expense included in the Consolidated Statement of Operations (thousands):

Year ended

December 31, 

    

2019

    

2018

Research and development

$

3,812

$

8,340

General and administrative

 

7,241

7,862

$

11,053

$

16,202

Summary of all stock option activity

Year ended

December 31, 

    

2019

    

2018

Number of options over ordinary shares granted

15,679,383

20,771,970

Weighted average fair value of ordinary shares options

$

0.48

$

0.87

Number of RSU-style options granted

8,020,410

8,603,676

Weighted average fair value of RSU-style options granted

$

0.86

$

1.37

The following table summarizes all stock option activity for the year ended December 31, 2019:

Weighted

Average

average

remaining

Aggregate

exercise price

contractual

intrinsic value

    

Options

    

per option

    

term (years)

    

(thousands)

Outstanding at January 1, 2019

 

87,564,719

£

0.60

Changes during the period:

Granted

 

23,699,793

£

0.41

Exercised

(3,549,298)

£

0.08

Forfeited

 

(18,837,142)

£

0.60

Outstanding at December 31, 2019

 

88,878,072

£

0.57

 

6.8

£

1,991

Exercisable at December 31, 2019

 

51,953,196

£

0.63

 

5.6

£

263

The following table summarizes information about stock options granted based on the market value at grant date which were outstanding as of December 31, 2019:

Weighted

Average

average

remaining

Aggregate

exercise price

contractual

intrinsic value

    

Options

    

per option

    

term (years)

    

(thousands)

Outstanding at January 1, 2019

 

79,465,357

£

0.66

Changes during the period:

Granted

 

15,679,383

£

0.62

Exercised

(2,406,298)

£

0.12

Forfeited

 

(16,092,106)

£

0.70

Outstanding at December 31, 2019

 

76,646,336

£

0.66

 

6.5

£

139

Exercisable at December 31, 2019

 

51,137,121

£

0.64

 

5.6

£

139

The following table summarizes information about options which have a nominal exercise price (similar to restricted stock units (RSUs)) which were outstanding as of December 31, 2019:

Average

remaining

Aggregate

contractual

intrinsic value

    

Options

    

    

term (years)

    

(thousands)

Outstanding at January 1, 2019

 

8,099,362

Changes during the period:

Granted

 

8,020,410

Exercised

(1,143,000)

Forfeited

 

(2,745,036)

Outstanding at December 31, 2019

 

12,231,736

 

8.7

£

1,851

Exercisable at December 31, 2019

 

816,075

 

8.0

£

124

Summary of the assumptions used to estimate the fair values of the share options granted using the Black-Scholes option-pricing model

Year ended

December 31, 

    

2019

    

2018

Expected term (years)

 

5 years

 

5 years

Expected volatility

69 - 73%

66 - 69%

Risk free rate

 

0.22 - 0.90%

 

0.90 - 1.15%

Expected dividend yield

0%

0%