Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.19.1
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share Based Compensation Stock Options, and Other Types of Grants of Stock Option The table below provides a summary of those plans as of December 31, 2018:
 
Partner

Company
 
Stock Plan
 
Shares

Authorized
 
 
Shares available at

December 31, 2018
 
Aevitas
 
Aevitas Therapeutics, Inc. 2018 Long Term Incentive Plan
 
 
2,000,000
 
 
 
1,802,000
 
Avenue
 
 Avenue Therapeutics, Inc. 2015 Stock Plan
 
 
2,000,000
 
 
 
647,022
 
Caelum
 
 Caelum Biosciences Inc. 2017 Incentive Plan
 
 
3,000,000
 
 
 
371,336
 
Cellvation
 
 Cellvation Inc. 2016 Incentive Plan
 
 
2,000,000
 
 
 
300,000
 
Checkpoint
 
 Checkpoint Therapeutics, Inc. Amended and Restated 2015 Stock Plan
 
 
5,000,000
 
 
 
2,345,457
 
Cyprium
 
 Cyprium Therapeutics, Inc. 2017 Stock Plan
 
 
2,000,000
 
 
 
2,000,000
 
Helocyte
 
 DiaVax Biosciences, Inc. 2015 Incentive Plan
 
 
2,000,000
 
 
 
341,667
 
Journey
 
 Journey Medical Corporation 2015 Stock Plan
 
 
3,000,000
 
 
 
434,792
 
Mustang
 
 Mustang Bio, Inc. 2016 Incentive Plan
 
 
5,000,000
 
 
 
2,049,689
 
Tamid
 
 FBIO Acquisition Corp. V 2017 Incentive Plan
 
 
2,000,000
 
 
 
1,600,000
 
Schedule of Share-based Compensation, Activity
The following table summarizes the stock-based compensation expense from stock option, employee stock purchase programs and restricted Common Stock awards and warrants for the years ended December 31, 2018 and 2017:
 
 
 
For the Years Ended December 31,
 
($ in thousands)
 
2018
 
 
2017
 
Employee awards
 
$
4,062
 
 
$
6,606
 
Executive awards Fortress Companies' stock
 
 
1,878
 
 
 
-
 
Non-employee awards
 
 
93
 
 
 
83
 
Partner companies:
 
 
 
 
 
 
 
 
Avenue
 
 
1,537
 
 
 
604
 
Checkpoint
 
 
1,995
 
 
 
3,118
 
Mustang
 
 
4,960
 
 
 
2,013
 
Caelum
 
 
282
 
 
 
595
 
Journey
 
 
146
 
 
 
224
 
Other
 
 
59
 
 
 
160
 
Total stock-based compensation expense
 
$
15,012
 
 
$
13,403
  
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding And Exercisable
The following table summarizes Fortress stock option activities excluding activities related to 
partner companies:
 
 
 
Number of shares
 
 
Weighted average

exercise price
 
 
Total weighted

average

intrinsic value
 
 
Weighted

average

remaining

contractual life

(years)
 
Options vested and expected to vest at December 31, 2017
 
 
1,110,501
 
 
$
3.78
 
 
$
1,351,080
 
 
 
3.95
 
Forfeited
 
 
(25,000
)
 
 
4.75
 
 
 
–
 
 
 
-
 
Options vested and expected to vest at December 31, 2018
 
 
1,085,501
 
 
$
3.75
 
 
$
–
 
 
 
2.93
 
Options vested and exercisable
 
 
1,085,501
 
 
$
3.75
 
 
$
–
 
 
 
2.93
 
Options outstanding
 
 
1,085,501
 
 
$
3.75
 
 
$
–
 
 
 
2.93
 
Nonvested Restricted Stock Shares Activity
The following table summarizes Fortress restricted stock awards and restricted stock units activities, excluding activities related to Fortress 
subsidiaries:
 
 
 
Number of shares
 
 
Weighted average

grant price
 
Unvested balance at December 31, 2016
 
 
10,094,095
 
 
$
2.49
 
Restricted stock granted
 
 
1,325,396
 
 
 
2.70
 
Restricted stock vested
 
 
(213,333
)
 
 
2.75
 
Restricted stock units granted
 
 
1,128,750
 
 
 
4.17
 
Restricted stock units forfeited
 
 
(15,000
)
 
 
2.98
 
Restricted stock units vested
 
 
(445,874
)
 
 
3.50
 
Unvested balance at December 31, 2017
 
 
11,874,034
 
 
$
2.63
 
Restricted stock granted
 
 
1,721,802
 
 
 
3.81
 
Restricted stock vested
 
 
(213,334
)
 
 
2.76
 
Restricted stock units granted
 
 
490,000
  
 
 
3.64
  
Restricted stock units forfeited
 
 
(474,478
)
 
 
3.94
 
Restricted stock units vested
 
 
(752,042
)
 
 
3.56
 
Unvested balance at December 31, 2018
 
 
12,645,982
  
 
$
2.72
  
Schedule of Warrant Activities
The following table summarizes Fortress warrant activities, excluding activities related to 
partner companies
: 
 
 
 
Number of shares
 
 
Weighted average

exercise price
 
 
Total weighted

average intrinsic

value
 
 
Weighted average

remaining

contractual life

(years)
 
Outstanding as of December 31, 2016
 
 
2,263,453
 
 
$
3.62
 
 
$
79,800
 
 
 
4.74
 
Granted
 
 
816,180
 
 
 
3.84
 
 
 
260,380
 
 
 
4.87
 
Forfeited
 
 
(305,444
)
 
 
7.07
 
 
 
–
 
 
 
–
 
Outstanding as of December 31, 2017
 
 
2,774,189
 
 
$
3.30
 
 
$
2,204,530
 
 
 
4.47
 
Forfeited
 
 
(20,000
)
 
 
5.72
 
 
 
–
 
 
 
–
 
Outstanding as of December 31, 2018
 
 
2,754,189
 
 
$
3.28
 
 
$
–
 
 
 
3.49
 
Exercisable as of December 31, 2018
 
 
849,189
 
 
$
3.92
 
 
$
–
 
 
 
3.13
 
Schedule of Fair Value of Separate Accounts by Major Category of Investment
Beginning in 2017, LTIP equity interest grants were made in the form of stock. During the year ended December 31, 2017, Mr. Weiss and Dr. Rosenwald received, for their services to the Company, stock awards of 500,000 shares representing 5% of the ownership in the following entities:
 
 
 
 
 
 
Risk Free
 
 
 
 
 
Discount for

Lack of
 
 
Exercise
 
 
 
 
2017
 
Stock Shares
 
 
Rate
 
 
Volatility
 
 
Marketability
 
 
price
 
 
Fair Value
 
Aevitas
 
 
1,000,000
 
 
 
1.92
 
 
 
79.8
%
 
 
42.6
%
 
$
0.020
 
 
$
20,000
 
Caelum
 
 
1,000,000
 
 
 
1.93
 
 
 
70.0
%
 
 
49.5
%
 
$
0.028
 
 
$
28,000
 
Cyprium
 
 
1,000,000
 
 
 
1.92
 
 
 
84.3
%
 
 
44.2
%
 
$
0.004
 
 
$
4,000
 
Acquisition Corp. III
 
 
1,000,000
 
 
 
1.92
 
 
 
83.9
%
 
 
44.0
%
 
$
0.007
 
 
$
7,000
 
Acquisition Corp. IV
 
 
1,000,000
 
 
 
1.92
 
 
 
83.9
%
 
 
44.0
%
 
$
0.007
 
 
$
7,000
 
Tamid
 
 
1,000,000
 
 
 
1.92
 
 
 
83.9
%
 
 
44.0
%
 
$
0.007
 
 
$
7,000
 
Acquisition Corp. VI
 
 
1,000,000
 
 
 
1.92
 
 
 
83.9
%
 
 
44.0
%
 
$
0.007
 
 
$
7,000
 
Acquisition Corp. VII
 
 
1,000,000
 
 
 
1.92
 
 
 
83.9
%
 
 
44.0
%
 
$
0.007
 
 
$
7,000
 
Acquisition Corp. VIII
 
 
1,000,000
 
 
 
1.92
 
 
 
83.9
%
 
 
44.0
%
 
$
0.007
 
 
$
7,000