| Additional Paid-In Capital [Text Block] | 11.
Additional Paid-In Capital
Stock options
On January 16, 2018,
100,000
options to purchase common stock were granted to an employee under the 2016 Stock Option Plan. The options have an exercise price of $0.79. The options granted vest over a period of
2
years at a rate of
25% every six months and expire
10
years after the grant date. The stock options were accounted for at their fair value, as determined by the Black-Scholes valuation model, of approximately $44
thousand.
On April 10, 2018,
275,000
options to purchase common stock were granted to employees under the 2016 Stock Option Plan. The options have an exercise price of $0.66. The options granted vest over a period of
2
years at a rate of
25% every six months and expire
10
years after the grant date. The stock options were accounted for at their fair value, as determined by the Black-Scholes valuation model, of approximately $99
thousand.
On June 11, 2018,
800,000
options to purchase common stock were granted to officers and employees under the 2016 Stock Option Plan. The options have an exercise price of $0.76. The options granted vest over a period of
2
years at a rate of
25% every six months and expire
10
years after the grant date. The stock options were accounted for at their fair value, as determined by the Black-Scholes valuation model, of approximately $334
thousand.
On July 3, 2018, the Company granted
100,000
options to purchase common stock to a consultant. The stock options are exercisable at $0.78
per share and vest over a period of
2
years at a rate of
25% every six months and expire
3
years after the grant date. The stock options were accounted for at their fair value of approximately $27
thousand.
During the nine-month period ended September 30, 2018 a total of
60,000
stock options were exercised for
60,000
common shares having a par value of $0
thousand in aggregate, for cash consideration of $33
thousand, resulting in an increase in additional paid-in capital of $33
thousand.
During the nine-month period ended September 30, 2017, on January 18, 2017,
300,000
options to purchase common stock were granted to non-employee directors under the 2016 Stock Option Plan. The options have an exercise price of $0.89. The options vest immediately and expire
10
years after the grant date. The stock options were accounted for at their fair value, as determined by the Black-Scholes valuation model, of approximately $143
thousand.
On August 28, 2017,
359,818
options to purchase common stock were granted to employees under the 2016 Stock Option Plan. The options have an exercise price of $0.77. The options granted vest over a period of
2
years at the rate of
25% every six months and expire
10
years after the grant date. The stock options were accounted for at their fair value, as determined by the Black-Scholes valuation model, of approximately $150
thousand.
During the nine-month period ended September 30, 2017 a total of
135,000
stock options were exercised for
135,000
common shares having a par value of $0
thousand in aggregate, for cash consideration of $62
thousand, resulting in an increase in additional paid-in capital of $62
thousand.
Compensation expenses for stock-based compensation of $311
thousand and $267
thousand were recorded during the nine-month periods ended September 30, 2018 and 2017, respectively. An amount of $302
thousand expensed in the nine-month period ended September 30, 2018 relates to stock options granted to employees and directors and an amount of $9
thousand relates to stock options granted to consultants. An amount of $262
thousand expensed in the nine-month period ended September 30, 2017 relates to stock options granted to employees and directors and an amount of $5
thousand relates to stock options granted to a consultant. As at September 30, 2018, the Company has $555
thousand (2017 - $243
thousand) of unrecognized stock-based compensation.
Warrants
During the nine-month period ended September 30, 2018 a total of
3,160,739
warrants were exercised for
3,160,739
common shares having a par value of $Nil
in aggregate, for cash consideration of approximately $1,796
thousand, resulting in an increase in additional paid-in capital of approximately $1,796
thousand. During the nine-month period ended September 30, 2017 a total of
1,984,447
warrants were exercised for
1,984,447
common shares having a par value of $Nil
in aggregate, for cash consideration of approximately $1,120
thousand, resulting in an increase in additional paid-in capital of approximately $1,120
thousand.
Deferred Share Units (“DSUs”)
Effective February 7, 2018, the Board approved a Deferred Share Unit Plan (DSU Plan) to compensate non-employee directors as part of their annual remuneration. Under the DSU Plan, the Board may grant Deferred Share Units (“DSUs”) to the participating directors at its discretion and, in addition, each participating director may elect to receive all or a portion of his or her annual cash stipend in the form of DSUs. To the extent DSUs are granted, the amount of compensation that is deferred is converted into a number of DSUs, as determined by the market price of our Common Stock on the effective date of the election. These DSUs are converted back into a cash amount at the expiration of the deferral period based on the market price of our Common Stock on the expiration date and paid to the director in cash in accordance with the payout terms of the DSU Plan. As the DSUs are on a cash-only basis, no shares of Common Stock will be reserved or issued in connection with the DSUs. On May 16, 2018,
287,355
DSUs have been granted under the DSU Plan as of the date of this filing, accordingly, an amount of $379
thousand has been recognized in management salaries.
Performance and Restricted Share Units (“PRSUs”) At the Annual Meeting on May 8, 2018, the shareholders approved the IntelGenx Technologies Corp. Performance and Restricted Share Unit Plan (PRSU Plan) which the Board of Directors had approved on March 19, 2018. The primary purpose of this PRSU Plan is to provide the Company with a share-related mechanism to attract, retain and motivate qualified executive officers of the Company and its Subsidiaries and to reward such executive officers for their contributions toward the long-term goals and success of the Company and to enable and encourage such executive officers to acquire shares of Common Stock as long-term investments and proprietary interests in the Company. No rewards have been issued under the PRSU Plan as of September 30, 2018. |
