Tonix Pharmaceuticals Holding Corp. Quarterly report pursuant to Section 13 or 15(d)

STOCK BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2016

The following table summarizes the RSU activity for the nine months ended September 30, 2016:

Unvested restricted stock units as of January 1, 2016	42,000
Granted	112,500
Forfeited	-
Vested	(42,000	)
Unvested restricted stock units as of September 30, 2016	112,500

A summary of the stock option activity and related information for the Plans for the nine months ended September 30, 2016 is as follows:

	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at January 1, 2016		1,656,643		$	10.64			$	1,125,299
Grants		698,000		$	4.67			$	-
Exercised		-		$	-			$	-
Forfeitures or expirations		(65,022	)	$	5.52			$	-
Outstanding at September 30, 2016		2,289,621		$	8.97		8.11	$	-

Vested and expected to vest at September 30, 2016		2,289,621		$	8.97		8.11	$	-
Exercisable at September 30, 2016		1,185,602		$	11.95		7.34	$	-

The assumptions used in the valuation of stock options granted during the nine months ended September 30, 2016 and 2015 were as follows:

	Nine Months Ended September 30, 2016			Nine Months Ended September 30, 2015
Risk-free interest rate		0.85% to 1.86	%		1.47% to 2.35	%
Expected term of option		6.0 to 9.06 years			6.0 to 9.91 years
Expected stock price volatility		73.46% to 81.59	%		80.91% to 92.13	%
Expected dividend yield	$	0.0		$	0.0