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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Stock-Based Compensation Expense

The consolidated stock-based compensation expense recognized by each of PAVmed Inc. and Lucid Diagnostics Inc. for both the PAVmed Inc. 2014 Equity Plan and the Lucid Diagnostics Inc. 2018 Equity Plan, with respect to stock options and restricted stock awards as discussed above, for the periods indicated, was as follows:

 

   2022   2021 
   Years Ended December 31, 
   2022   2021 
Cost of revenue  $16   $— 
Sales and marketing expenses   2,464    1,177 
General and administrative expenses   16,001    12,799 
Research and development expenses   1,051    1,033 
Total stock-based compensation expense  $19,532   $15,009 
Schedule of Stock-Based Compensation Expense Recognized by Lucid Diagnostics

   2022   2021 
   Years Ended December 31, 
   2022   2021 
Lucid Diagnostics Inc 2018 Equity Plan – cost of revenue  $13   $— 
Lucid Diagnostics Inc 2018 Equity Plan – sales and marketing expenses   968    8 
Lucid Diagnostics Inc 2018 Equity Plan – general and administrative expenses   12,691    9,073 
Lucid Diagnostics Inc 2018 Equity Plan – research and development expenses   187    66 
PAVmed Inc 2014 Equity Plan - cost of revenue   3    — 
PAVmed Inc 2014 Equity Plan - sales and marketing expenses   654    202 
PAVmed Inc 2014 Equity Plan - general and administrative expenses   262    38 
PAVmed Inc 2014 Equity Plan - research and development expenses   213    212 
Total stock-based compensation expense – recognized by Lucid Diagnostics Inc  $14,991   $9,599 
Schedule of Unrecognized Compensation Expense

The consolidated unrecognized stock-based compensation expense and weighted average remaining requisite service period with respect to stock options and restricted stock awards issued under each of the PAVmed Inc. 2014 Equity Plan and the Lucid Diagnostics Inc. 2018 Equity Plan, as discussed above, is as follows:

 

   Unrecognized Expense   Weighted Average Remaining Service Period (Years) 
PAVmed Inc. 2014 Equity Plan          
Stock Options  $       7,136           1.9 
Restricted Stock Awards  $933    0.7 
           
Lucid Diagnostics Inc. 2018 Equity Plan          
Stock Options  $3,248    2.1 
Restricted Stock Awards  $4,064    0.5 
2014 Equity Plan [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Summarizes Information About Stock Options

PAVmed Inc. stock options granted under the PAVmed Inc. 2014 Equity Plan and stock options granted outside such plan are summarized as follows:

  

   Number of Stock Options   Weighted Average Exercise Price   Remaining Contractual Term (Years)   Intrinsic Value(2) 
Outstanding stock options at December 31, 2020   6,798,529   $2.55    7.3   $2,558 
Granted(1)   2,900,000   $4.90           
Exercised   (621,164)  $1.58           
Forfeited   (357,167)  $2.82           
Outstanding stock options at December 31, 2021   8,720,198   $3.39    6.8   $3,516 
Vested and exercisable stock options at December 31, 2021   6,228,106   $2.88    5.7   $3,245 
                     
Outstanding stock options at December 31, 2021   8,720,198   $3.39    6.8   $3,516 
Granted(1)   4,804,350   $1.53           
Exercised   (299,999)  $1.01           
Forfeited   (1,655,894)  $3.14           
Outstanding stock options at December 31, 2022(3)   11,568,655   $2.71    7.4   $— 
Vested and exercisable stock options at December 31, 2022   7,233,965   $2.97    6.5   $— 

 

(1)Stock options granted under the PAVmed Inc. 2014 Equity Plan and those granted outside such plan generally vest ratably over twelve quarters, with the vesting commencing with the grant date quarter-end, and have a ten-year contractual term from date-of-grant.
(2)The intrinsic value is computed as the difference between the quoted price of the PAVmed Inc. common stock on each of December 31, 2022 and December 31, 2021 and the exercise price of the underlying PAVmed Inc. stock options, to the extent such quoted price is greater than the exercise price.
(3)The outstanding stock options presented in the table above, are inclusive of 500,854 stock options granted outside the PAVmed Inc. 2014 Equity Plan, as of December 31, 2022 and December 31, 2021.
Schedule of Restricted Stock Award Activity

PAVmed Inc. restricted stock awards granted under the PAVmed Inc. 2014 Equity Plan and restricted stock awards granted outside such plan are summarized as follows:

  

   Number of Restricted Stock Awards   Weighted Average Grant Date Fair Value 
Outstanding restricted stock awards as of December 31, 2020   1,416,666   $1.72 
Granted   400,000   $4.50 
Vested   (150,000)  $2.04 
Forfeited   —   $— 
Unvested restricted stock awards as of December 31, 2021(1)   1,666,666   $2.36 
           
Unvested restricted stock awards as of December 31, 2021   1,666,666   $2.36 
Granted   —    — 
Vested   (541,666)   1.20 
Forfeited   (150,000)   2.04 
Unvested restricted stock awards as of December 31, 2022(1)   975,000   $3.05 

 

(1)The unvested restricted stock awards presented in the table above, are inclusive of 100,000 restricted stock awards granted outside the PAVmed Inc. 2014 Equity Plan as of December 31, 2022 and December 31, 2021.
Schedule of Fair Values of Stock Options Granted Using Black-scholes Valuation Model Assumptions

 

   Years Ended December 31, 
   2022   2021 
Expected term of stock options (in years)   5.8    5.6 
Expected stock price volatility   88.0%   76.0%
Risk free interest rate   2.2%   1.0%
Expected dividend yield   —%   —%
2018 Equity Plan [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Summarizes Information About Stock Options

Lucid Diagnostics Inc. stock options granted under the Lucid Diagnostics Inc. 2018 Equity Plan and stock options granted outside such plan are summarized as follows:

 

   Number of Stock Options   Weighted Average Exercise Price   Remaining Contractual Term (Years)   Intrinsic Value(2) 
Outstanding stock options at December 31, 2020   1,399,242   $0.61    8.0    - 
Granted(1)   20,000   $9.08           
Exercised   —   $—           
Forfeited   —   $—           
Outstanding stock options at December 31, 2021   1,419,242   $0.73    7.0   $6,665 
Vested and exercisable stock options at December 31, 2021   1,337,417   $0.61    7.0   $6,370 
                     
Outstanding stock options at December 31, 2021   1,419,242   $0.73    7.0   $6,665 
Granted(1)   2,365,000   $3.68           
Exercised   (965,341)  $0.72           
Forfeited   (253,524)  $3.83           
Outstanding stock options at December 31, 2022(3)   2,565,377   $3.14    8.3   $428 
Vested and exercisable stock options at December 31, 2022   1,119,006   $2.53    7.1   $428 

 

(1)Stock options granted under the Lucid Diagnostics Inc. 2018 Equity Plan and those granted outside such plan generally vest ratably over twelve quarters, with the vesting commencing with the grant date quarter-end, and have a ten-year contractual term from date-of-grant.
(2)The intrinsic value is computed as the difference between the quoted price of the Lucid Diagnostics Inc. common stock on each of December 31, 2022 and December 31, 2021 and the exercise price of the underlying Lucid Diagnostics Inc. stock options, to the extent such quoted price is greater than the exercise price.
(3)The outstanding stock options presented in the table above, are inclusive of 423,300 stock options granted outside the Lucid Diagnostics Inc. 2018 Equity Plan, as of December 31, 2022 and December 31, 2021.
Schedule of Restricted Stock Award Activity

Lucid Diagnostics Inc. restricted stock awards granted under the Lucid Diagnostics Inc. 2018 Equity Plan and restricted stock awards granted outside such plan are summarized as follows:

  

   Number of Restricted Stock Awards   Weighted Average Grant Date Fair Value 
Unvested restricted stock awards as of December 31, 2020   —   $— 
Granted   1,947,795    12.76 
Vested   —    — 
Forfeited   (7,055)   13.11 
Unvested restricted stock awards as of December 31, 2021(1)   1,940,740   $12.76 
           
Unvested restricted stock awards as of December 31, 2021   1,940,740   $12.76 
Granted   320,000    4.53 
Vested   (169,320)   13.48 
Forfeited   —    — 
Unvested restricted stock awards as of December 31, 2022(1)   2,091,420   $11.44 

 

(1)The unvested restricted stock awards presented in the table above, are inclusive of 50,000 restricted stock awards granted outside the Lucid Diagnostics Inc. 2018 Equity Plan as of December 31, 2022 and December 31, 2021.
Schedule of Fair Values of Stock Options Granted Using Black-scholes Valuation Model Assumptions

   Years Ended December 31, 
   2022   2021 
Expected term of stock options (in years)   5.6    5.7 
Expected stock price volatility   71.0%   70.0%
Risk free interest rate   2.1%   1.3%
Expected dividend yield   —%   —%