XOMA Royalty Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation (Tables)

Three Months Ended March 31,

Total stock-based compensation expense included in G&A

Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023


			Weighted		Weighted
			Average		Average		Aggregate
			Exercise		Contractual		Intrinsic
	Number of		Price		Remaining Term		Value
	shares		Per Share		(in years)		(in thousands)
Outstanding at January 1, 2023		2,025,542	$	20.24		6.10	$	10,804
Granted		725,000		23.74
Exercised		—		—
Forfeited, expired or cancelled		(43,998)		38.68
Outstanding at March 31, 2023		2,706,544	$	20.88		6.84	$	15,134
Exercisable at March 31, 2023		1,773,379	$	19.37		5.42	$	13,914

Summary of stock-based compensation expense

All stock-based compensation expense is recorded in G&A expense. The following table shows total stock-based compensation expense for stock options issued under the 2010 Plan, the Stock Option Inducement Awards and ESPP in the condensed consolidated statements of operations and comprehensive loss (in thousands):

2010 Plan

Share-based compensation

Schedule of valuation assumptions


	Three Months Ended March 31,
	2023	2022
Dividend yield	n/a	0	%
Expected volatility	n/a	70	%
Risk-free interest rate	n/a	1.89	%
Expected term	n/a	5.66 years

Stock Option Inducement Award, Exercise price of $18.66 per share

Share-based compensation

Schedule of valuation assumptions


	Three Months Ended March 31,
	2023		2022⁽¹⁾
Dividend yield	0	%	n/a
Expected volatility	69	%	n/a
Risk-free interest rate	3.92	%	n/a
Expected term	5.79 years		n/a

(1)

No Stock Option Inducement Awards were granted during the three months ended March 31, 2022.

Stock Option Inducement Award, Exercise price of $30.00 per share

Share-based compensation

Schedule of valuation assumptions


	Three Months Ended March 31,
	2023		2022⁽¹⁾
Dividend yield	0	%	n/a
Expected volatility	91	%	n/a
Risk-free interest rate	3.86	%	n/a
Expected term	8.01 years		n/a

(1) No Stock Option Inducement Awards were granted during the three months ended March 31, 2022.