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

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2020

A summary of the stock option activity and related information for the Plans for the years ended December 31, 2020, and 2019 is as follows:

	Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at December 31, 2018		13,740		$	1,430.90		8.14	$	—
Grants		95,517		$	21.74		—		—
Exercised		—
Forfeitures or expirations		(221	)		359.86
Outstanding at December 31, 2019		109,036		$	199.57		8.60	$	—
Grants		10,100,250		$	0.81		—	$	—
Exercised		—			—
Forfeitures or expirations		—		$	—

Outstanding at December 31, 2020		10,209,286		$	2.93		9.26	$	131,558
Vested and expected to vest at December 31, 2020		10,209,286		$	2.93		9.26	$	131,558
Exercisable at December 31, 2020		156,812		$	127.55		4.85	$	653

The assumptions used in the valuation of stock options granted during the year ended December 31, 2020 and 2019 were as follows:

	2020		2019
Risk-free interest rate		0.36% to 1.25%		2.30% to 2.54%
Expected term of option		5.5 to 6 years		5.10 to 10 years
Expected stock price volatility		120.62% to 129.29%		107.12% to 109.72%
Expected dividend yield		0.0%		0.0%