Marpai, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

The following table summarizes the stock option activity:


						Weighted Average		Aggregate
	Number of			Weighted Average		Remaining		Intrinsic
	Options			Exercise Price		Contractual Term		Value
Balance at January 1, 2023		931,934		$	5.88		8.91	$	203,295
Granted		717,250			2.56
Forfeited/Cancelled		(385,394	)		4.99
Exercised		(49,833	)		0.01
Balance at December 31, 2023		1,213,957			4.43		8.70	$	—
Exercisable at December 31, 2023		707,435		$	5.32		8.43	$	—

Summary of Non-vested Stock Options Activity

The following table summarizes the Company’s non-vested stock options activity:


				Weighted-Average
	Non-vested Options			Grant Date Fair
	Outstanding			Value
At January 1, 2023		507,664		$	2.64
Options granted		717,250			1.50
Options forfeited/cancelled		(331,200	)		2.12
Options exercised		(9,870	)		5.42
Options vested		(377,322	)		1.80
At December 31, 2023		506,522		$	1.67

Summary of Restricted Stock Awards Activity

The following table summarizes the restricted stock awards activity:


				Weighted-Average
	Restricted Stock			Grant Date Fair Value
	Awards			Per Share
Outstanding at January 1, 2023		55,735		$	5.92
Granted		—			—
Forfeited/cancelled		—			—
Vested		(55,735	)		5.92
Outstanding at December 31, 2023		—		$	—

Schedule of Fair Value of Options and Share Awards Granted under the Stock Option Plan

The fair value of stock options and share awards granted under the stock option plan during the year ended December 31, 2023, and 2022 was estimated at the date of grant using the Black-Scholes option pricing model and the following assumptions for grants:


	2023			2022
Risk-free interest rates	3.43% to 4.44%				3.61	%
Expected life	5 years			5 years
Expected volatility	41% to 186.14%				41.00	%
Expected dividend yield		0.00	%		0.00	%

Summary of Restricted Stock Units Activity

The following table summarizes the restricted stock units activity:



	Restricted Stock
	Units			Value
Outstanding at January 1, 2023		72,957		$	4.44
Granted		580,227			1.58
Forfeited/cancelled		(127,605	)		3.25
Vested		(525,579	)		1.57
Outstanding at December 31, 2023		—		$	—