| Warrants and Share-based Payment | Note 6—Warrants and Share-based Payment
Share-based payment
Ascendis Pharma A/S has established warrant programs,
equity-settled share-based payment transactions, as an incentive
for all of our employees, members of our Board of Directors and
select external consultants.
Warrants are granted by our Board of Directors in accordance with
authorizations given to it by the shareholders of Ascendis Pharma
A/S. As of March 31, 2018, 6,487,812 warrants had been
granted, of which 19,580 warrants have been cancelled, 1,600,845
warrants have been exercised, 2,168 warrants have expired without
being exercised, and 207,328 warrants have been forfeited. As of
March 31, 2018, our Board of Directors was authorized to grant
up to 1,531,592 additional warrants to our employees, board members
and select consultants without pre-emptive
Warrant Activity
The following table specifies the warrant activity during the three
months ended March 31, 2018:
Total Weighted
Outstanding at December 31, 2017 4,621,154 17.62
Granted during the period 47,000 42.85
Exercised during the period
—
—
Forfeited during the period (10,263 ) 24.25
Expired during the period
—
—
Outstanding at March 31, 2018 4,657,891 17.86
Vested at the balance sheet date 2,298,231 12.38
Warrant Compensation Costs
Warrant compensation costs are determined with basis in the grant
date fair value of the warrants granted and recognized over the
vesting period.
Consolidated
Three months Ended
2018 2017
(EUR’000)
Research and development costs 2,386 1,289
General and administrative expenses 2,293 1,416
Total warrant compensation costs 4,679 2,705 |
