Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

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 and Lucid Diagnostics for both the PAVmed 2014 Equity Plan and the Lucid Diagnostics 2018 Equity Plan, with respect to stock options and restricted stock awards as discussed above, for the periods indicated, was as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Cost of revenue	$	31	$	—	$	54	$	—
Sales and marketing expenses		455		591		899		1,216
General and administrative expenses		1,674		4,162		5,262		8,164
Research and development expenses		347		254		711		440
Total stock-based compensation expense	$	2,507	$	5,007	$	6,926	$	9,820

Schedule of Stock-Based Compensation Expense Recognized by Lucid Diagnostics

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Lucid Diagnostics 2018 Equity Plan – cost of revenue	$	16	$	—	$	28	$	—
Lucid Diagnostics 2018 Equity Plan – sales and marketing		247		215		470		480
Lucid Diagnostics 2018 Equity Plan – general and administrative		836		3,313		3,348		6,514
Lucid Diagnostics 2018 Equity Plan – research and development		66		26		136		97
PAVmed 2014 Equity Plan - cost of revenue		9		—		16		—
PAVmed 2014 Equity Plan - sales and marketing		120		161		253		336
PAVmed 2014 Equity Plan - general and administrative		8		77		164		145
PAVmed 2014 Equity Plan - research and development		97		52		192		107
Total stock-based compensation expense – recognized by Lucid Diagnostics	$	1,399	$	3,844	$	4,607	$	7,679

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 2014 Equity Plan and the Lucid Diagnostics 2018 Equity Plan, as discussed above, is as follows:

	Unrecognized Expense		Weighted Average Remaining Service Period (Years)
PAVmed 2014 Equity Plan
Stock Options	$	6,192		2.2
Restricted Stock Awards	$	375		0.8
Lucid Diagnostics 2018 Equity Plan
Stock Options	$	4,129		2.3
Restricted Stock Awards	$	1,141		1.1

2014 Equity Plan [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Summarizes Information About Stock Options

PAVmed stock options granted under the PAVmed 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, 2022		11,568,655		$	2.71		7.4	$	—
Granted(1)		7,280,000		$	0.48
Exercised		—		$	—
Forfeited		(1,326,249	)	$	1.87
Outstanding stock options at June 30, 2023(3)		17,522,406		$	1.85		7.9	$	7
Vested and exercisable stock options at June 30, 2023		7,998,032		$	2.92		6.2	$	—

(1)	Stock options granted under the PAVmed 2014 Equity Plan and those granted outside such plan generally vest one-third in one year then ratably over the next eight quarters, 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 common stock on each of June 30, 2023 and December 31, 2022 and the exercise price of the underlying PAVmed 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 2014 Equity Plan, as of June 30, 2023 and December 31, 2022.

Schedule of Restricted Stock Award Activity

PAVmed restricted stock awards granted under the PAVmed 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
Unvested restricted stock awards as of December 31, 2022(1)		975,000		$	3.05
Granted		—			—
Vested		(100,000	)		3.10
Forfeited		—			—
Unvested restricted stock awards as of June 30, 2023		875,000		$	3.04

⁽¹⁾ The unvested restricted stock awards presented in the table above, are inclusive of 100,000 restricted stock awards granted outside the PAVmed 2014 Equity Plan as of December 31, 2022. These 100,000 restricted stock awards were fully vested during the period ended June 30, 2023.

Schedule of Fair Values of Stock Options Granted Using Black-scholes Valuation Model Assumptions

	Six Months Ended June 30,
	2023			2022
Expected term of stock options (in years)		5.7			5.8
Expected stock price volatility		88	%		84	%
Risk free interest rate		3.7	%		3.0	%
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 stock options granted under the Lucid Diagnostics 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, 2022		2,565,377		$	3.14		8.3	$	428
Granted(1)		2,732,500		$	1.31
Exercised		—		$	—
Forfeited		(347,915	)	$	2.57
Outstanding stock options at June 30, 2023(3)		4,949,962		$	2.17		8.7	$	641
Vested and exercisable stock options at June 30, 2023		1,374,179		$	2.76		6.9	$	440

(1)	Stock options granted under the Lucid Diagnostics 2018 Equity Plan and those granted outside such plan generally vest one-third in one year then ratably over the next eight quarters, 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 common stock on each of June 30, 2023 and December 31, 2022 and the exercise price of the underlying Lucid Diagnostics 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 2018 Equity Plan, as of June 30, 2023 and December 31, 2022.

Schedule of Restricted Stock Award Activity

Lucid Diagnostics restricted stock awards granted under the Lucid Diagnostics 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, 2022(1)		2,091,420		$	11.44
Granted		—			—
Vested		(219,320	)		11.27
Forfeited		—			—
Unvested restricted stock awards as of June 30, 2023		1,872,100		$	11.46

⁽¹⁾ The unvested restricted stock awards presented in the table above, are inclusive of 50,000 restricted stock awards granted outside the Lucid Diagnostics 2018 Equity Plan as of December 31, 2022. These 50,000 restricted stock awards were fully vested during the period ended June 30, 2023.

Schedule of Fair Values of Stock Options Granted Using Black-scholes Valuation Model Assumptions

	Six Months Ended June 30,
	2023			2022
Expected term of stock options (in years)		5.6			5.7
Expected stock price volatility		75	%		71	%
Risk free interest rate		3.7	%		3.0	%
Expected dividend yield		—	%		—	%