General form of registration statement for all companies including face-amount certificate companies

Stock Option Plan (Tables)

v3.19.3
Stock Option Plan (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2019
Dec. 31, 2018
Share-based Payment Arrangement [Abstract]    
Stock option activity
            Options Outstanding  
    Options Available       Number of Options       Weighted-Average Exercise Price        
Balances at January 1, 2018     941,408         658,592       $ 0.94        
Granted(1)     (487,304 )       487,304         6.00        
Forfeited(2)     40,000         (40,000 )       6.00        
Exercised                            
Balances at December 31, 2018     494,104         1,105,896         2.99        
Granted                             
Forfeited                             
Exercised                            
Balances at June 30, 2019     494,104         1,105,896         2.99        

 

(1) 32,004 options vest as follows: options to purchase up to 12,000 shares of common stock vest on the grant date, options to purchase up to 1,667 shares of common stock vest on the 1st of each month thereafter. 5,000 options vest 6/48ths on the grant date and 1/48th per month thereafter. 5,000 options vest 6/48ths on the six-month anniversary of grant date and 1/48th per month thereafter. 320,900 options vest 6/51 at the six-month anniversary of vesting commencement date and 1/51 per month thereafter, with vesting commencing on October 1, 2018. 104,400 options vest quarterly over 5 quarters, with the first quarter commenced on October 1, 2018. 20,000 options vest as follows: options to purchase up to 1,667 shares of common stock vest on January 31, 2019 and the last day of each month thereafter.

 

(2) Forfeited options resulted from an employee termination.

 

 

              Options Outstanding          
      Options Available       Number of Options       Weighted-Average Exercise Price  
Balances at January 1, 2017     420,000       280,000     $ 0.001  
Board-approved increase in option pool(1)     900,000       —         —    
Granted (2)     (378,592 )     378,592       1.63  
Forfeited     —         —         —    
Exercised     —         —         —    
Balances at December 31, 2017     941,408       658,592       0.94  
Granted(3)     (487,304 )     487,304       6.00  
Forfeited(4)     40,000       (40,000 )     6.00  
Exercised     —         —         —    
Balances at December 31, 2018     494,104       1,105,896       2.99  

 

 

  

 

Summary of options outstanding
  Exercise Prices       Number of Shares subject to Options Outstanding     Weighted Average Remaining Contractual Term     Number of Shares Subject to Options Fully Vested and Exercisable     Weighted Average Remaining Contractual Term
  $ 0.001         555,520      7.2 years       440,720      7.1 years
    6.00         550,376      9.0 years       175,212     8.9 years
            1,105,896            615,932       

 

Exercise Prices       Numberof Shares Outstanding   Weighted Average Remaining Contractual Term   Number of Shares Fully Vested and Exercisable   Weighted Average Remaining Contractual Term
$ 0.001               555,520        7.7 years       406,280      7.6 years
$ 6.00               550,376        9.5 years       58,910      8.9 years
                1,105,896             465,190