HeartBeam, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

STOCK-BASED COMPENSATION (Tables)

STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

The following is a summary of stock option activity during the three months ended March 31, 2026:


	Number of options outstanding		Weighted average exercise price		Average remaining contractual life (in years)		Aggregate intrinsic value (in thousands)
Outstanding – December 31, 2025		9,119,589	$	2.15		7.85	$	4,305
Options granted		859,863		1.45
Options exercised		—		—
Options cancelled		—		—
Outstanding – March 31, 2026		9,979,452	$	2.09		7.79	$	351
Exercisable – March 31, 2026		5,882,959		2.21		7.14		324

Schedule of Assumptions Used to Estimate Grant Date Fair Value Per Option

For the three months ended March 31, 2026 and 2025, the assumptions used in the Black-Scholes option pricing model, which was used to estimate the grant date fair value per option, were as follows:


	Three months ended March 31,
	2026		2025
Weighted-average Black-Scholes option pricing model assumptions:
Volatility	111.82% - 111.87%		111.06% - 116.28%
Expected term (in years)	5.25 - 6.08		5.00 - 6.08
Risk-free rate	3.76% - 3.96%		4.34% - 4.41%
Expected dividend yield		—		—
Weighted average grant date fair value per share	$1.17 - $1.23		$1.85- $1.99

Schedule of Nonvested Restricted Stock Units Activity

The following is a summary of RSU’s awards activity during the three months ended March 31, 2026:


	Three months ended March 31, 2026
	Numbers of Shares			Weighted Average Grant Date Fair value
Non-Vested at beginning of period		457,522		$	1.30
Shares granted		87,930		$	1.43
Shares vested		(43,964	)	$	1.43
Non-vested at the end of period		501,488		$	1.31

Schedule of Stock-Based Compensation

The following is a summary of stock-based compensation expense (rounded):


	Three months ended March 31,
	2026		2025
Selling, general and administrative
Stock option expense	$	569,000	$	207,000
RSU expense		209,000		146,000
Total Selling, general and administrative expense		778,000		353,000
Research and development
Stock option expense		439,000		747,000
RSU expense		—		9,000
Total research and development expense		439,000		756,000
Total Stock Based Compensation Expense	$	1,217,000	$	1,109,000