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Share-Based Payments

3 Months Ended

Mar. 31, 2024

Share-based Payment Arrangement [Abstract]

Note 8: Share-Based Payments

The Board of Directors has been authorized by the Shareholders General Meeting to grant restricted stock units (“RSU”), stock options (“SO”) and

non-employee

warrants (

Bons de Souscription d’Actions

or “BSA”).

During the three months ended March 31, 2024, the Company granted 262,000 stock options and 59,000 restricted stock units to employees.

There have been no changes in the vesting conditions and method of valuation of the SO and RSUs from that disclosed in Note 12 to the consolidated financial statements included in the Annual Report.

Change in Number of BSA/SO/RSU:


	Number of outstanding
	BSA		SO		RSUs
Balance as of December 31, 2023		244,693		7,129,541		2,021,370
Granted during the period		—		262,000		59,000
Forfeited during the period		—		3,525		13,738
Exercised/released duri n g the period		—		—		2,598
Expired during the period		—		—		—

Balance as of March 31, 2024		244,693		7,388,016		2,064,035

Share-based payments expenses reflected in the condensed consolidated statements of operations is as follows:


	Three Months Ended March 31,
	2024				2023
Research & development		SO	(513	)		(429	)
		RSU	(256	)		(258	)
Sales & marketing		SO	(23	)		(27	)
		RSU	(9	)		(8	)
General & administrative		SO	(1,030	)		(797	)
		RSU	(126	)		(113	)

Total share-based compensation (expense)			(1,958	)		(1,632	)

The $0.3 million increase in share-based compensation expenses is notably due to the increase of number of ordinary share equivalents granted in 2023 impacting the three months ended March 31, 2024, in comparison to the number granted in 2022 impacting the three months ended March 31, 2023.