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

STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2016

The following table summarizes the restricted stock activity for the three months ended March 31, 2016:

Restricted stock units as of January 1, 2016		42,000
Granted		56,250
Forfeited		-
Vested		(42,000)
Unvested restricted stock units as of March 31, 2016		56,250

A summary of the stock option activity and related information for the Plans for the three months ended March 31, 2016 is as follows:

					Weighted-
			Weighted-		Average		Aggregate
			Average		Remaining		Intrinsic
	Shares		Exercise Price		Contractual Term		Value
Outstanding at January 1, 2016		1,656,643	$	10.64			$	1,125,299
Grants		603,000	$	5.03			$	-
Exercised		-
Forfeitures or expirations		(19,684)	$	6.37			$	-
Outstanding at March 31, 2016		2,239,959	$	9.17		8.44	$	-

Vested and expected to vest at March 31, 2016		2,239,959	$	9.17		8.44	$	-
Exercisable at March 31, 2016		980,714	$	12.66		7.70	$	-

The assumptions used in the valuation of stock options granted during the three months ended March 31, 2016 and 2015 were as follows:

	Three Months Ended		Three Months Ended
	March 31, 2016		March 31, 2015
Risk-free interest rate		0.85% to 1.86%		1.47% to 1.94%
Expected term of option		6.0 to 9.06 years		6.0 to 9.91 years
Expected stock price volatility		76.41% to 81.59%		90.35% to 92.13%
Expected dividend yield	$	0.0	$	0.0