XOMA Royalty Corporation Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Stock-Based Compensation and Other Benefit Plans (Tables)

Stock-Based Compensation and Other Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2026

Stock-Based Compensation and Other Benefit Plans


			Weighted			Weighted
			Average			Average		Aggregate
			Exercise			Contractual		Intrinsic
	Number of		Price			Remaining Term		Value
	Shares		Per Share			(in years)		(in thousands)
Outstanding as of January 1, 2026		2,153,457	$	21.42			5.23	$	14,520
Granted		—		—
Exercised		(33,278)		15.58
Forfeited, expired or cancelled		—		—
Outstanding as of March 31, 2026		2,120,179	$	21.51			5.01	$	22,107
Exercisable as of March 31, 2026		2,000,971	$	21.39			4.90	$	21,188
Vested and expected to vest as of March 31, 2026		2,120,179	$	21.51			5.01	$	22,107

Schedule of grant date fair values of PSUs granted

The grant date fair values of the PSUs granted in the three months ended March 31, 2026 were estimated as follows:


						Derived
Hurdle Price		Number of		Fair Value		Service Period
Per Share		PSUs		Per Share		(in years)
$	30.00		6,000	$	16.53		0.12
$	33.00		113,806	$	22.99-23.51		0.40-0.42
$	35.00		6,000	$	10.36		0.19
$	38.00		113,807	$	21.10-21.61		0.67-0.69
$	40.00		9,000	$	6.22		0.23
$	43.00		113,809	$	19.37-19.83		0.90-0.92
$	45.00		9,000	$	3.63		0.25
$	48.00		113,811	$	17.76-18.20		1.10-1.11
			485,233

Schedule of performance shares, outstanding activity


			Weighted
			Average
			Grant Date
	Number of		Fair Value
	Unvested PSUs		Per Share
Unvested balance as of January 1, 2026		379,907	$	15.69
Granted		485,233		19.89
Vested		(23,698)		17.11
Forfeited		—		—
Unvested balance as of March 31, 2026		841,442	$	18.07
Vested and expected to vest as of March 31, 2026		723,030	$	18.70

Schedule of restricted stock unit awards activity


			Weighted
			Average
			Grant Date
	Number of		Fair Value
	Unvested RSUs		Per Share
Unvested balance as of January 1, 2026		29,855	$	25.12
Granted		326,619		26.87
Vested		—		—
Forfeited		—		—
Unvested balance as of March 31, 2026		356,474	$	26.72
Vested and expected to vest as of March 31, 2026		356,474	$	26.72

Summary of stock-based compensation expense

The following table shows total stock-based compensation expense for stock options, PSUs, RSUs, and ESPP in the condensed consolidated statements of operations (in thousands):


	Three Months Ended March 31,
	2026		2025
Equity-classified awards	$	1,969	$	1,983
Liability-classified awards		312		—
Total stock-based compensation expense	$	2,281	$	1,983