Quarterly report pursuant to Section 13 or 15(d)

Share-based compensation

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Share-based compensation
6 Months Ended
Jun. 30, 2018
Share-based compensation  
Share-based compensation

 

Note 10 — Share-based compensation

 

The following table shows the total share-based compensation expense included in the unaudited consolidated statements of operations (thousands):

 

 

 

Three months ended
June 30,

 

Six months ended
June 30,

 

 

 

2018

 

2017

 

2018

 

2017

 

Research and development

 

$

2,071

 

$

871

 

$

4,285

 

$

2,229

 

General and administrative

 

2,008

 

1,201

 

4,126

 

2,528

 

 

 

 

 

 

 

 

 

 

 

 

 

$

4,079

 

$

2,072

 

$

8,411

 

$

4,757

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

There were 1,435,685 and 1,252,176 options over ordinary shares granted in the three months ended June 30, 2018 and 11,430,341 and 20,203,152 options over ordinary shares granted in the six months ended June 30, 2018 and 2017, respectively, with a weighted average fair value of $1.18, $0.42, $0.80 and $0.35, respectively. Additionally, in the three and six months ended June 30, 2018, 151,056 and 6,703,692 options were granted, which have a nominal exercise price (similar to a restricted stock unit (RSU)), with a weighted average fair value of $1.88 and $1.35, respectively.

 

The RSU-style options over ordinary shares in Adaptimmune Therapeutics plc were granted under the Adaptimmune Therapeutics plc Employee Share Option Scheme (adopted on January 14, 2016).  These options have an exercise price equal to the nominal value of an ordinary share, of £0.001, and generally vest over four years, with 25% on the first, and each subsequent, anniversary of the grant date.  The RSU-style options are not subject to performance conditions and the contractual term is ten years.