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Stock Options and Restricted Stock Units (Tables)

3 Months Ended

Mar. 31, 2025

Stock Options and Restricted Stock Units

Schedule of stock-based compensation expense

The stock-based compensation expense related to the Innodata Inc. 2013 Stock Plan, as amended and restated effective June 7, 2016 (the “2013 Plan”) and the Innodata Inc. 2021 Equity Compensation Plan, as amended and restated effective as of April 11, 2022 (the “2021 Plan”, and together with the 2013 Plan, collectively, the “Equity Plans”) were allocated as follows (in thousands):

​	​	​	​	​	​	​
​	​	For the Three Months Ended
​	​	March 31,
​		2025			2024
Direct operating costs	​	$	427	​	$	84
Selling and administrative expenses	​		2,454	​		950
Total stock-based compensation	​	$	2,881	​	$	1,034

Equity Plans

Stock Options and Restricted Stock Units

Schedule of stock option activity

2013 Plan

A summary of option activity under the 2013 Plan and changes during each of the three-month periods ended March 31, 2025 and 2024 are presented below:

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​			Weighted-Average		​
​	​	Number of		Weighted - Average			Remaining Contractual	​	Aggregate
​		Options		Exercise Price			Term (years)		Intrinsic Value
Outstanding at January 1, 2025		3,165,193	​	$	3.67		6.32		$	113,458,326
Granted		-	​		-		-		​	-
Exercised		(188,150)	​		3.74		-		​	-
Forfeited/Expired		-	​		-		-		​	-
Outstanding at March 31, 2025		2,977,043	​	$	3.67		6.11	​	$	95,948,739
​		​	​		​		​	​		​
Exercisable at March 31, 2025		2,878,708	​	$	3.68	​	6.06	​	$	92,753,835
​		​	​		​		​	​		​
Vested and Expected to vest at March 31, 2025		2,977,043	​	$	3.67		6.11	​	$	95,948,739

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​	​		Weighted-Average		​	​
​	​	Number of	​	Weighted - Average		​	Remaining Contractual	​	Aggregate
​	​	Options	​	Exercise Price		​	Term (years)	​	Intrinsic Value
Outstanding at January 1, 2024	​	5,339,162	​	$	3.22	​	6.38	​	$	28,640,009
Granted		-		​	-		-		​	-
Exercised		-		​	-		-		​	-
Forfeited/Expired		(2,334)		​	6.96		-		​	-
Outstanding at March 31, 2024		5,336,828	​	$	3.21		6.13	​	$	18,364,840
​	​	​	​	​	​	​	​	​	​	​
Exercisable at March 31, 2024		3,552,030	​	$	2.28		5.22	​	$	15,528,015
​	​	​	​	​	​	​	​	​	​	​
Vested and Expected to vest at March 31, 2024		5,336,828	​	$	3.21		6.13	​	$	18,364,840

​

2021 Plan

A summary of option activity under the 2021 Plan and changes during the three-month periods ended March 31, 2025 and 2024 are presented below.

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​		​	Weighted-Average	​	​
​	​	Number of	​	Weighted - Average		​	Remaining Contractual	​	Aggregate
​		Options		Exercise Price			Term (years)		Intrinsic Value
Outstanding at January 1, 2025		842,271	​	$	15.86		8.46		$	20,847,471
Granted		-	​		-		-		​	-
Exercised		(73,232)	​		3.57		-		​	-
Forfeited/Expired		(334)	​		3.41		-		​	-
Outstanding at March 31, 2025		768,705	​	$	17.04		8.28	​	$	16,375,435
​	​	​	​	​	​	​	​	​	​	​
Exercisable at March 31, 2025		242,512	​	$	3.34		7.49	​	$	7,897,315
​	​	​	​	​	​	​	​	​	​	​
Vested and Expected to vest at March 31, 2025		768,705	​	$	17.04		8.28	​	$	16,375,435

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​	​		Weighted-Average		​	​
​	​	Number of	​	Weighted - Average		​	Remaining Contractual	​	Aggregate
​	​	Options	​	Exercise Price		​	Term (years)	​	Intrinsic Value
Outstanding at January 1, 2024		923,571	​	$	3.41	​	8.76		$	4,786,252
Granted		-	​		-	​	-		​	-
Exercised		-	​		-	​	-		​	-
Forfeited/Expired		(5,334)	​		3.41	​	-		​	-
Outstanding at March 31, 2024		918,237	​	$	3.41	​	8.52	​	$	2,946,506
​	​	​	​	​	​	​	​	​	​	​
Exercisable at March 31, 2024		386,209	​	$	3.34	​	8.49	​	$	1,258,907
​	​	​	​	​	​	​	​	​	​	​
Vested and Expected to vest at March 31, 2024		918,237	​	$	3.41	​	8.52	​	$	2,946,506

Restricted Stock Units

Stock Options and Restricted Stock Units

Summary of restricted stock under the company's plan

​

​	​	​	​	​	​
​	​	Number of		Weighted-Average
​	​	Restricted Stock	​	Grant Date
​		Units		Fair Value
Unvested at January 1, 2025	​	1,249,079	​	$	20.98
Granted		2,751		​	41.23
Vested		(184,200)		​	4.99
Forfeited/Expired		(530,950)		​	6.37
Unvested at March 31, 2025		536,680	​	$	41.03

​

​	​	​	​	​	​
​		Number of		Weighted-Average
​	​	Restricted Stock	​	Grant Date
​	​	Units	​	Fair Value
Unvested at January 1, 2024		749,756	​	$	5.77
Granted		-	​		-
Vested		-	​		-
Forfeited/Expired		(995)	​		8.29
Unvested at March 31, 2024		748,761	​	$	5.78

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