| Schedule Share Based Compensation Expenses |
Stock-based compensation expense is principally related to awards issued to employees pursuant to the Legacy Innovid Stock Option Plan (“Legacy Plan”) and 2021 Innovid Corp. Incentive Plan (“2021 Plan”) and is summarized as follows:
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Three months ended September 30, |
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Nine months ended September 30, |
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2022 |
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2021 |
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2022 |
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2021 |
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(Unaudited) |
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(Unaudited) |
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(Unaudited) |
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(Unaudited) |
Cost of goods sold |
$ |
307 |
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$ |
14 |
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$ |
795 |
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$ |
34 |
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Research and development |
1,039 |
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|
90 |
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2,438 |
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|
319 |
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Sales and marketing |
1,391 |
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128 |
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3,500 |
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|
400 |
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General and administrative |
1,546 |
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145 |
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3,095 |
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1,285 |
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Total |
$ |
4,283
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$ |
377
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$ |
9,828
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$ |
2,038
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| Schedule of Share Based Payment Arrangement, Option, Activity |
A summary of the employees’ stock option activity under the Legacy Plan and 2021 Plan for the nine months ended September 30, 2022 (unaudited) is as follows:
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Amount
of
options
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Weighted
average
exercise
price
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Weighted
average
remaining contractual term
(in years)
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Aggregate intrinsic value (in thousands) |
Outstanding at beginning of period
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11,122,648
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$ |
0.82
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|
6.87 |
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$ |
64,818
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| Transfer between employee and consultant |
40,118 |
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|
0.64 |
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| Granted |
2,041,956 |
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|
2.09 |
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| Granted in acquisition |
949,893 |
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0.31 |
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| Forfeited |
(118,837) |
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1.10 |
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| Expired |
(18,653) |
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0.90 |
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| Exercised |
(2,845,702) |
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0.28 |
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Outstanding at end of period
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11,171,423
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$ |
1.14
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7.62 |
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$ |
17,515
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Exercisable options at end of period
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6,587,903
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$ |
0.71
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6.76 |
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$ |
13,202
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A summary of the consultants’ stock option activity under the Legacy Plan for the nine months ended September 30, 2022 (unaudited) is as follows:
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Amount
of
options
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Weighted
average
exercise
price
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Weighted
average
remaining contractual term
(in years)
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Aggregate intrinsic value (in thousands) |
Outstanding at beginning of period
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179,627
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$ |
0.31
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2.34 |
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$ |
1,139
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| Transfer between employee and consultant |
(40,118) |
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0.64 |
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| Forfeited |
(460) |
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2.81 |
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| Exercised |
(69,298) |
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0.30 |
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Outstanding at end of period
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69,751
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$ |
0.48
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4.45 |
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$ |
156
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Exercisable options at end of period
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62,227
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$ |
0.46
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4.12 |
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$ |
144
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| Schedule of Share Based Payment Arrangement, Restricted Stock Unit, Activity |
A summary of the employees’ RSU activity under the 2021 Plan for the nine months ended September 30, 2022 (unaudited) is as follows:
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Number of share units |
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Weighted
average
grant date
fair value
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Outstanding at beginning of period
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—
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—
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| Granted |
8,446,838 |
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|
5.98 |
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| Released |
(10,669) |
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6.60 |
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| Forfeited |
(778,388) |
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6.46 |
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Outstanding at end of period
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7,657,781
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$ |
5.93
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A summary of the consultants’ RSU activity under the 2021 Plan for the nine months ended September 30, 2022 (unaudited) is as follows:
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Number of share units |
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Weighted
average
grant date
fair value
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Outstanding at beginning of period
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—
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—
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| Granted |
176,151 |
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|
6.52 |
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| Forfeited |
(5,387) |
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6.60 |
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Outstanding at end of period
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170,764
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$ |
6.51
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