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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 Share-Based Compensation Expense The Company recorded stock-based compensation expense in the following categories of its audited Consolidated Statements of Operations and Balance Sheets (in thousands):

 

 

 

Year ended December 31,

 

 

 

2022

 

 

2021

 

Engineering services

 

$

5,026

 

 

$

2,036

 

General and administrative costs

 

 

4,365

 

 

 

1,700

 

BlueWalker 3 satellite - construction in progress (1)

 

 

(45

)

 

 

38

 

Total

 

$

9,346

 

 

$

3,774

 

 

(1)
For the year ended December 31, 2022 stock-based compensation was reversed as a result of forfeiture of options previously provided to a
supplier.
Schedule of Stock Options Act

The following table summarizes the Company’s option activity for the year ended December 31, 2022:

 

 

 

Options

 

 

Weighted-Average Exercise Price

 

 

Weighted-Average Remaining Contractual Term (years)

 

 

Aggregate Intrinsic Value

 

Outstanding at December 31, 2021

 

 

12,359,322

 

 

$

0.83

 

 

 

7.67

 

 

$

87,882,197

 

Granted

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Exercised

 

 

(667,553

)

 

 

0.10

 

 

 

 

 

 

 

Cancelled or forfeited

 

 

(923,970

)

 

 

1.37

 

 

 

 

 

 

 

Outstanding at December 31, 2022

 

 

10,767,799

 

 

$

0.83

 

 

 

5.87

 

 

$

42,994,264

 

Options exercisable as of December 31, 2022

 

 

8,122,559

 

 

$

0.51

 

 

 

5.44

 

 

$

35,027,302

 

Vested and expected to vest at December 31, 2022

 

 

9,388,382

 

 

$

0.87

 

 

 

5.67

 

 

$

37,040,735

 

 
Schedule of Unvested Option Activity

The following table summarizes the Company’s unvested option activity for the year ended December 31, 2022:

 

 

 

Number of Shares

 

 

Weighted-Average Grant Date Fair Value

 

Unvested at December 31, 2021

 

 

5,188,990

 

 

$

0.64

 

Granted

 

 

-

 

 

 

-

 

Vested

 

 

(1,798,816

)

 

 

0.46

 

Forfeited

 

 

(744,934

)

 

 

0.51

 

Unvested at December 31, 2022

 

 

2,645,240

 

 

$

0.80

 

 
Schedule of Option Award Estimated Using a Black-Scholes Option-pricing Model Assumptions

The fair value of each stock option is estimated on the date of grant using a Black-Scholes option-pricing model, with the assumptions used for the year ended December 31, 2021, presented on a weighted average basis. There were no stock options granted during the year ended December 31, 2022 under the AST LLC Incentive Plan.

 

 

 

Year ended December 31, 2021

 

Exercise price

 

$

10.00

 

Fair market value

 

$

4.15

 

Expected dividend yield

 

 

0.0

%

Expected term (in years)

 

 

6.3

 

Expected volatility

 

 

42.24

%

Weighted-average risk-free rate

 

 

0.55

%

 
Schedule of Unvested Restricted Stock Units Activity

The following table summarizes the Company’s unvested restricted stock unit activity for the year ended December 31, 2022:

 

 

 

 

 

Number of Shares

 

 

Weighted-Average Grant Date Fair Value

 

Unvested at December 31, 2021

 

 

 

 

1,686,031

 

 

$

10.14

 

Granted

 

 

 

 

2,047,139

 

 

 

9.25

 

Vested

 

 

 

 

(411,450

)

 

 

9.77

 

Forfeited

 

 

 

 

(75,500

)

 

 

9.27

 

Unvested at December 31, 2022

 

 

 

 

3,246,220

 

 

$

9.65

 
Employee Stock Option [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Unvested Option Activity

The following table summarizes the Company’s unvested option activity for the year ended December 31, 2022:

 

 

 

Number of Shares

 

 

Weighted-Average Grant Date Fair Value

 

Unvested at December 31, 2021

 

 

1,803,344

 

 

$

4.41

 

Granted

 

 

2,073,150

 

 

 

4.16

 

Vested

 

 

(666,424

)

 

 

4.28

 

Forfeited

 

 

(250,474

)

 

 

4.42

 

Unvested at December 31, 2022

 

 

2,959,596

 

 

$

4.26

 
Schedule of Option Award Estimated Using a Black-Scholes Option-pricing Model Assumptions

The fair value of each stock option is estimated on the date of grant using a Black-Scholes option-pricing model, with the assumptions used for the years ended December 31, 2022 and 2021, presented on a weighted average basis:

 

 

 

Year ended December 31, 2022

 

 

Year ended December 31, 2021

 

Exercise price

 

$

9.20

 

 

$

10.35

 

Fair market value

 

$

4.16

 

 

$

4.40

 

Expected dividend yield

 

 

0.0

%

 

 

0.0

%

Expected term (in years)

 

 

6.1

 

 

 

6.1

 

Expected volatility

 

 

42.13

%

 

 

42.38

%

Weighted-average risk-free rate

 

 

3.24

%

 

 

1.11

%

 
Schedule of Stock Options Activities

The following table summarizes the Company’s option activity under the 2020 Plan for the year ended December 31, 2022:

 

 

 

Options

 

 

Weighted-Average Exercise Price

 

 

Weighted-Average Remaining Contractual Term (years)

 

 

Aggregate Intrinsic Value

 

Outstanding at December 31, 2021

 

 

1,889,115

 

 

$

10.35

 

 

 

9.70

 

 

$

(4,549,597

)

Granted

 

 

2,073,150

 

 

 

9.20

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Cancelled or forfeited

 

 

(264,616

)

 

 

10.27

 

 

 

 

 

 

 

Outstanding at December 31, 2022

 

 

3,697,649

 

 

$

9.71

 

 

 

9.07

 

 

 

(18,077,872

)

Options exercisable as of December 31, 2022

 

 

738,053

 

 

$

10.23

 

 

 

8.15

 

 

 

(3,993,150

)

Vested and expected to vest at December 31, 2022

 

 

3,614,449

 

 

$

9.66

 

 

 

9.06

 

 

 

(17,478,832

)