Share-Based Payments (Tables)

12 Months Ended

Dec. 31, 2025

Stock-based compensation costs included in the consolidated statements of operations are presented below:


	Year Ended December 31,
	2025		2024		2023
Cost of products and services	$	72	$	41	$	72

Research and development	2,953		2,828		2,237
Selling, general and administrative	7,841		6,602		7,579

Total	$	10,866	$	9,471	$	9,888

Stock option activity was as follows:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)
Balance at December 31, 2022	15,201,276	$	10.41	6.87
Granted	7,847,869	1.19
Exercised	—	—
Forfeited	(275,250)	(2.65)
Expired	(716,555)	(20.41)
Balance at December 31, 2023	22,057,340	6.90		7.12
Granted	7,361,674	1.40
Exercised	(265,448)	(1.30)
Forfeited	(1,586,732)	(1.72)
Expired	(1,642,100)	(17.10)
Balance at December 31, 2024	25,924,734	5.07		7.05
Granted	4,322,403	1.44
Exercised	(786,282)	(1.53)
Forfeited	(334,076)	(1.66)
Expired	(973,587)	(14.62)
Balance at December 31, 2025	28,153,192	4.32		6.74
Exercisable at December 31, 2025	18,804,310	5.76		5.90

The following table summarizes additional information about stock options outstanding as of December 31, 2025


			Options Outstanding						Options Exercisable
Range of Exercise Prices			Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Life (Years)	Aggregate Intrinsic Value		Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Life (Years)	Aggregate Intrinsic Value
$0.67	—	$1.40	14,831,973	$	1.29	8.17	$	42,799	6,533,916	$	1.24	7.61	$	19,225
$1.41	—	$2.50	5,711,476	$	1.97	6.88	12,606		4,684,151	$	1.96	6.83	10,394
$2.51	—	$6.00	2,287,356	$	5.47	4.23	131		2,263,856	$	5.50	4.19	109
$6.01	—	$12.00	2,773,056	$	10.14	4.44	—		2,773,056	$	10.14	4.44	—
$12.01	—	$34.85	2,549,331	$	19.80	2.91	—		2,549,331	$	19.80	2.91	—
			28,153,192	$	4.32	6.74	$	55,536	18,804,310	$	5.76	5.90	$	29,728

RSU and PSU activity was as follows:


	Number of RSUs and PSUs	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (Years)
Balance at December 31, 2022	697,815	$	2.66	0.13
Granted	4,083,777	1.01
Vested	(3,820,058)	(1.27)
Forfeited	—	—
Balance at December 31, 2023	961,534	1.17		0.19
Granted	7,769,484	1.29
Vested	(4,726,961)	(1.37)
Forfeited	—	—
Balance at December 31, 2024	4,004,057	1.16		0.55
Granted	6,872,289	1.42
Vested	(6,290,420)	(1.29)
PSUs settled in cash	(1,154,000)	(1.13)
Forfeited	(64,875)	(1.24)
Balance at December 31, 2025	3,367,051	1.45		0.70

PRECIGEN, INC. 10-K