XML 52 R43.htm IDEA: XBRL DOCUMENT v3.22.2
Equity Incentive Plan (Details) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 22, 2022
Jun. 03, 2022
Apr. 04, 2022
Mar. 14, 2022
Jan. 06, 2022
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Jul. 20, 2021
Equity Incentive Plan (Details) [Line Items]                      
RSUs grant (in Shares) 27,854 40,000                  
RSU per share (in Dollars per share) $ 6.1 $ 8.73                  
Employment agreements description     the Company appointed K. Chris Min, M.D., Ph.D. as its Chief Medical Officer. Dr. Min’s employment agreement provides annual base salary of $350,000, and he will be eligible to receive a performance bonus equal to 30% of his base salary, prorated for his first year of employment. Dr. Min received a $60,000 signing bonus, with 50% of this amount paid in RSUs and 50% in stock options. Dr. Min also received two equity incentive awards; 150,000 RSUs and a stock option award exercisable for 50,000 shares. Each award will vest 25% upon the first-year anniversary of his first day of employment with Longeveron, with 25% vesting thereafter on the second, third and fourth anniversaries of his employment. In each case, the vesting of the equity awards will be subject to Dr. Min’s continued service through the applicable vesting dates. RSUs shall be expensed on a quarterly basis at the rate of $0.1 million for the quarterly vesting amount of 9,375 RSUs, with a price per share of $12.85 (the closing price of the Company’s stock on April 4, 2022). Stock options shall be expensed based upon a Black-Scholes calculation, the price per share to be expensed was $11.34 and a total cost of $0.6 million would be expensed ratably over 48 months.                
Cash           $ 20,200,000   $ 20,200,000      
Fair market value per share (in Dollars per share)                     $ 6.08
RSUs outstanding (in Shares)               302,046   196,751  
Outstanding common stock shares               5.00%      
Dividend yield               0.00%      
Expected life               10 years      
Volatility               95.00%      
Issued and outstanding options (in Shares)           415,473   415,473      
Weighted average exercise price (in Dollars per share)           $ 9.21   $ 9.21   $ 5.96  
Stock option issued and outstanding (in Shares)               304,449      
Exercise price per share (in Dollars per share)           $ 5.96   $ 5.96      
Granted awards (in Shares)   5,000   22,000 84,825            
Exercise price (in Dollars per share)   $ 8.73   $ 5.94 $ 10            
Calculation price (in Dollars per share)   $ 7.73   $ 5.23 $ 8.78            
Total cost   $ 100,000   $ 100,000 $ 700,000            
Vesting period       25.00% 25.00%            
Expensed ratably over       48 months 48 months            
Equity based compensation expense           $ 900,000 $ 2,200,000 $ 1,400,000 $ 3,500,000    
Unrecognized equity based compensation               $ 3,500,000      
Maturity term               3 years 9 months      
Minimum [Member]                      
Equity Incentive Plan (Details) [Line Items]                      
Risk-free interest rate               1.23%      
Maximum [Member]                      
Equity Incentive Plan (Details) [Line Items]                      
Risk-free interest rate               2.14%      
Series C [Member]                      
Equity Incentive Plan (Details) [Line Items]                      
Granted amount $ 170,000                    
Mr. Green [Member]                      
Equity Incentive Plan (Details) [Line Items]                      
Bonus for the completion                     $ 100,000
Mr. Green [Member] | Restricted Stock Units (RSUs) [Member]                      
Equity Incentive Plan (Details) [Line Items]                      
Cash           8,223   $ 8,223      
Mr. Lehr [Member]                      
Equity Incentive Plan (Details) [Line Items]                      
Bonus for the completion                     75,000
Mr. Lehr [Member] | Restricted Stock Units (RSUs) [Member]                      
Equity Incentive Plan (Details) [Line Items]                      
Cash           6,167   6,167      
Dr. Hare [Member]                      
Equity Incentive Plan (Details) [Line Items]                      
Bonus for the completion                     $ 75,000
Dr. Hare [Member] | Restricted Stock Units (RSUs) [Member]                      
Equity Incentive Plan (Details) [Line Items]                      
Cash           $ 12,335   $ 12,335