Tonix Pharmaceuticals Holding Corp. Annual report pursuant to Section 13 and 15(d)

STOCK BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2017

A summary of the stock option activity and related information for the Plans for the years ended December 31, 2017, and 2016 is as follows:

	Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at January 1, 2016		165,664		$	106.38		8.35	$	1,125,299
Grants		69,800		$	46.58				—
Exercised		-
Forfeitures or expirations		(18,038	)		57.00
Outstanding at January 1, 2017		217,426		$	91.33		7.82	$	—
Grants		260,000		$	4.63			$	—
Exercised		-
Forfeitures or expirations		(75,702	)		67.04

Outstanding at December 31, 2017		401,724		$	39.81		8.35	$	—
Vested and expected to vest at December 31, 2017		401,724		$	39.81		8.35	$	—
Exercisable at December 31, 2017		134,207		$	98.25		6.60	$	—

The assumptions used in the valuation of stock options granted during the years ended December 31, 2017 and 2016 were as follows:

	2017	2016
Risk-free interest rate	1.75% to 2.33%	0.85% to 2.25%
Expected term of option	5.0 to 7.91 years	6.0 to 9.06 years
Expected stock price volatility	76.28% to 77.59%	73.46% to 81.59%

The following table summarizes the RSU activity for the years ended December 31, 2017 and 2016:

Unvested restricted stock units as of January 1, 2016		4,200
	Granted	11,250
	Forfeited	—
	Vested	(4,200	)
Unvested restricted stock units as of January 1, 2017		11,250
	Granted	—
	Forfeited	—
	Vested	(11,250	)
Unvested restricted stock units as of December 31, 2017		—