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STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2013

STOCKHOLDERS' EQUITY

Schedule of warrants outstanding to purchase common stock and classified as equity

As of December 31, 2013, the following warrants to purchase our common stock were outstanding and classified as equity:

Issuance Date		Exercise Price			Number of Shares			Exercisable Date		Expiration Date
November 2011(1)		$	2.32			461,382		November 2011		November 2021
August 2011(1)		$	3.98			537,893		August 2011		August 2021
September 2009		$	9.00			150,000		September 2009		September 2014
April 2005		$	3.75			470,000		April 2005		April 2015
​	​	​	​	​	​	​	​	​	​	​
						1,619,275
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

(1)

In connection with each disbursement under the loan agreement with CIRM, we were obligated to issue to CIRM a warrant to purchase Geron common stock. Each of the warrants and the underlying common stock were unregistered. We have no further obligations to issue any additional warrants to CIRM.

Schedule of aggregate option and award activity

Aggregate option and award activity for the 2002 Plan, 2011 Plan, 1996 Directors Plan and 2006 Directors Plan is as follows:

					Outstanding Options
		Shares Available For Grant			Number of Shares			Weighted Average Exercise Price Per Share			Weighted Average Remaining Contractual Life (In years)			Aggregate Intrinsic Value (In thousands)
Balance at December 31, 2012			13,557,771			17,811,506		$	4.05					$	2
Options granted			(6,366,000	)		6,366,000		$	1.57
Awards granted			(66,853	)		—		$	—
Options exercised			—			(1,960,245	)	$	3.35
Options canceled/forfeited			6,641,045			(6,641,045	)	$	4.25
Awards canceled/forfeited			2,441,287			—		$	—
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Balance at December 31, 2013			16,207,250			15,576,216		$	3.04			6.83		$	33,798
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Options exercisable at December 31, 2013						8,144,040		$	4.26			5.05		$	11,194
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Options fully vested and expected to vest at December 31, 2013						15,122,068		$	3.08			6.77		$	32,402
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​

Schedule of information about stock options outstanding by exercise price range

 Information about stock options outstanding as of December 31, 2013 is as follows:

		Options Outstanding
Exercise Price Range		Number of Shares			Weighted Average Exercise Price Per Share			Weighted Average Remaining Contractual Life (In years)
$1.10 - $1.50			4,627,834		$	1.42			8.57
$1.51 - $1.70			4,217,041		$	1.54			9.04
$1.71 - $6.39			4,067,162		$	3.78			6.16
$6.40 - $9.32			2,664,179		$	7.08			1.35
​	​	​	​	​	​	​	​	​	​	​
$1.10 - $9.32			15,576,216		$	3.04			6.83
​	​	​	​	​	​	​	​	​	​	​

Schedule of aggregate restricted stock activity

Aggregate restricted stock activity for the 2002 Plan, 2011 Plan and 2006 Directors Plan is as follows:

		Number of Shares			Weighted Average Grant Date Fair Value Per Share			Weighted Average Remaining Contractual Term (In years)
Non-vested restricted stock at December 31, 2012			2,917,962		$	4.08			0.90
Granted			66,853		$	2.41
Vested			(134,091	)	$	3.77
Canceled/forfeited			(2,441,287	)	$	3.92
​	​	​	​	​	​	​	​	​	​	​
Non-vested restricted stock at December 31, 2013(1)			409,437		$	4.84			0.82
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

(1)

Includes 139,000 performance-based restricted stock awards that have not achieved certain strategic goals.

Summary of allocation of stock-based compensation expense related to share-based payment awards

The following table summarizes the stock-based compensation expense related to stock options, restricted stock awards and employee stock purchases for the years ended December 31, 2013, 2012 and 2011 which was allocated as follows:

		Year Ended December 31,
		2013			2012			2011
		(In thousands)
Research and development		$	1,741		$	2,336		$	5,799
Restructuring charges			28			107			174
General and administrative			2,666			2,868			9,276
​	​	​	​	​	​	​	​	​	​	​
Stock-based compensation expense included in operating expenses		$	4,435		$	5,311		$	15,249
​	​	​	​	​	​	​	​	​	​	​

Schedule of assumptions used to estimate the fair value of stock options granted

The fair value of stock options granted in 2013, 2012 and 2011 has been estimated at the date of grant using the Black Scholes option-pricing model with the following assumptions:

		2013		2012		2011
Dividend yield		0%		0%		0%
Expected volatility range		0.742 to 0.792		0.631 to 0.740		0.629 to 0.660
Risk-free interest rate range		0.80% to 1.97%		0.81% to 1.25%		0.88% to 2.37%
Expected term		6 yrs		6 yrs		5 yrs

Schedule of assumptions used to estimate the fair value of employee stock purchases under the Purchase Plan

The fair value of employee stock purchases in 2013, 2012 and 2011 under the Purchase Plan has been estimated using the Black Scholes option-pricing model with the following assumptions:

		2013		2012		2011
Dividend yield		0%		0%		0%
Expected volatility range		0.506 to 1.391		0.458 to 0.774		0.278 to 0.584
Risk-free interest rate range		0.09% to 0.21%		0.06% to 0.21%		0.10% to 0.32%
Expected term range		6 mos to 12 mos		6 mos to 12 mos		6 mos to 12 mos

Schedule of common stock reserved for future issuance

Common stock reserved for future issuance as of December 31, 2013 is as follows:

Outstanding stock options			15,576,216
Options and awards available for grant			16,207,250
Employee stock purchase plan			263,404
Warrants outstanding			1,619,275
​	​	​	​	​
Total			33,666,145
​	​	​	​	​
​	​	​	​	​

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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