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STOCK-BASED COMPENSATION
 6 Months Ended
Jun. 30, 2023
STOCK-BASED COMPENSATION  
STOCK-BASED COMPENSATION

7.    STOCK-BASED COMPENSATION

The Company may issue stock-based compensation awards under the Helius Medical Technologies, Inc. 2022 Equity Incentive Plan (“2022 Plan”) or the Helius Medical Technologies, Inc. 2021 Inducement Plan (as amended, the “Inducement Plan”), as described more fully in the 2022 10-K. On January 1, 2023, pursuant to the automatic increase provision of the 2022 Plan, the number of shares authorized for issuance increased from the initial 1,121,272 to 13,215,973. As of June 30, 2023, the remaining shares available for grant were 734,223 under the 2022 Plan and 455,000 under the Inducement Plan.

During the six months ended June 30, 2023, the Company granted 11,088,460 stock options out of the 2022 Plan and 25,000 stock options out of the Inducement Plan at a weighted average exercise price of $0.29 per share. The options vest over one to four years and expire ten years after the grant date.

The following table includes the weighted-average assumptions used in the Black-Scholes option pricing model and the related weighted-average grant-date fair values of stock options granted during the periods indicated:

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​

​

​

​

​

​

​

​

​

​

​

​

​

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Three Months Ended June 30, 

​

    

Six Months Ended June 30, 

 

​

    

2023

    

2022

    

​

2023

    

2022

​

Risk-free interest rate

​

 

3.75

%

 

2.89

%

​

 

3.93

%  

​

2.63

%

Expected volatility

​

 

79.29

%

 

75.09

%

​

 

79.45

%

 

74.66

%

Expected term (years)

​

 

5.26

​

 

5.57

​

​

 

5.70

​

 

5.62

​

Expected dividend yield

​

​

0.00

%

​

0.00

%

​

​

0.00

%

 

0.00

%

Fair value, per share

​

$

0.11

​

$

0.70

​

​

$

0.20

​

$

1.34

​

​

During the six months ended June 30, 2023, the Company's non-employee directors received a grant of 332,216 restricted stock units at weighted average grant date fair value of $0.16 per share.

As of June 30, 2023, there were an aggregate of 12,270,338 stock options outstanding with a weighted average exercise price of $1.56 per share and 276,848 unvested restricted stock units outstanding with a weighted average grant date fair value of $0.16 per share.

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Total stock-based compensation expense was as follows (in thousands):

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​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

June 30, 

​

June 30, 

​

​

2023

​

2022

​

2023

​

2022

Cost of sales

​

$

5

​

$

4

​

$

9

​

$

7

Selling, general and administrative

​

 

339

​

 

224

​

​

659

​

​

470

Research and development

​

​

76

​

​

(49)

​

​

157

​

​

104

Total stock-based compensation expense

​

$

420

​

$

179

​

$

825

​

$

581

​

As of June 30, 2023, the total remaining unrecognized compensation expense related to nonvested stock options and restricted stock units was $3.4 million which will be amortized over the weighted-average remaining requisite service period of 1.2 years.