Quarterly report pursuant to Section 13 or 15(d)

Share-based compensation

v3.10.0.1
Share-based compensation
9 Months Ended
Sep. 30, 2018
Share-based compensation  
Share-based compensation

 

Note 10 — Share-based compensation

 

The following table shows the total share-based compensation expense included in the unaudited consolidated statements of operations (thousands):

 

 

 

Three months ended

 

Nine months ended

 

 

 

September 30,

 

September 30,

 

 

 

2018

 

2017

 

2018

 

2017

 

Research and development

 

$

2,053

 

$

871

 

$

6,338

 

$

2,229

 

General and administrative

 

1,989

 

1,201

 

6,115

 

2,528

 

 

 

 

 

 

 

 

 

 

 

 

 

$

4,042

 

$

2,072

 

$

12,453

 

$

4,757

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

There were 757,273 and 8,756,211 options over ordinary shares granted in the three months ended September 30, 2018 and 12,187,614 and 28,959,363 options over ordinary shares granted in the nine months ended September 30, 2018 and 2017, respectively, with a weighted average fair value of $1.09, $0.34, $0.82 and $0.34, respectively. Additionally, in the three and nine months ended September 30, 2018, 1,259,760 and 7,966,716 options were granted, which have a nominal exercise price (similar to a restricted stock unit (RSU)), with a weighted average fair value of $1.67 and $1.40, respectively.

 

The RSU-style options over ordinary shares in Adaptimmune Therapeutics plc were granted under the Adaptimmune Therapeutics plc Employee Share Option Scheme (adopted on January 14, 2016).  These options have an exercise price equal to the nominal value of an ordinary share, of £0.001, and generally vest over four years, with 25% on the first, and each subsequent, anniversary of the grant date.  The RSU-style options are not subject to performance conditions and the contractual term is ten years.