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

STOCK BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2017

A summary of the stock option activity and related information for the Plans for the nine months ended September 30, 2017 is as follows:

	Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at January 1, 2017		217,426		$	91.33			$	—
Grants		260,000		$	4.63			$	—
Exercised		—
Forfeitures or expirations		(25,518	)		104.55
Outstanding at September 30, 2017		451,908		$	40.71		8.56	$	63,200

Vested and expected to vest at September 30, 2017		451,908		$	40.71		8.56	$	—
Exercisable at September 30, 2017		146,873		$	101.70		6.78	$	—

The assumptions used in the valuation of stock options granted during the nine months ended September 30, 2017 and 2016 were as follows:

	Nine Months Ended September 30, 2017		Nine Months Ended September 30, 2016
Risk-free interest rate		1.75% to 2.29%		0.85% to 1.86%
Expected term of option		5.00 to 7.91 years		6.00 to 9.06 years
Expected stock price volatility		76.61% to 77.59%		73.46% to 81.59%
Expected dividend yield	$	0.0	$	0.0

The following table summarizes the restricted stock activity for the nine months ended September 30, 2017:

Restricted stock units as of January 1, 2017	11,250
Granted	—
Forfeited	—
Vested	(11,250	)
Unvested restricted stock units as of September 30, 2017	—