Quarterly report [Sections 13 or 15(d)]

Stock-Based Compensation

v3.26.1
Stock-Based Compensation
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Stock Option Awards
All of the outstanding stock option awards are fully vested. To date, there have been no stock option awards granted under the Strata Critical Medical, Inc. 2021 Omnibus Incentive Plan (f/k/a the Blade Air Mobility, Inc. 2021 Omnibus Incentive Plan) (the “Plan”).

Following is a summary of stock option activities for the six months ended June 30, 2026:
Options Weighted
Average
Exercise Price
Weighted
Average
Grant Date
Fair Value
Weighted
Average
Remaining
Life
(years)
Intrinsic
Value
Outstanding – January 1, 2026 2,896,208  $ 0.19  $ 0.32  3.0
Exercised (311,960) 0.18  0.12  $ 1,500 
Outstanding – June 30, 2026
 2,584,248  $ 0.19  $ 0.35  2.4 $ 13,135 
Exercisable as of June 30, 2026
 2,584,248  $ 0.19  $ 0.35  2.4 $ 13,135 
Restricted Stock Units

During the six months ended June 30, 2026, the Company granted 1,371,962 restricted stock units (“RSUs”) to various employees, officers, directors, consultants, and vendors and 3,679,343 performance-based (tied to multi-year financial targets) restricted stock units (“PSUs”) granted to named executive officers, key employees and vendors under the Plan for
an aggregate of 5,051,305 (based on the target number of shares that may be issued assuming all performance targets are met).
The RSUs have various vesting dates, ranging from vesting on the grant date to as late as four years from the date of grant.
Of the 3,679,343 PSUs: (i) 3,259,545 PSUs were granted in February and April 2026 with a three-year service period ending December 31, 2028 and a weighted-average grant-date fair value of $4.20 per share; these awards vest based on achievement of a cumulative Adjusted EBITDA target over the service period, subject to continued service through December 31, 2028 (ii) 419,798 PSUs represent additional shares that vested on previously granted PSUs upon achievement of their performance targets. Each RSU and PSU represents the right to receive one share of the Company’s common stock.

Compensation expense associated with PSUs is recognized over the service period of the awards that are ultimately expected to vest when the related performance objective is met. The estimate of the number of awards expected to vest is reassessed each reporting period.

Following is a summary of restricted stock unit activities for the six months ended June 30, 2026:

 Restricted Stock Units
Weighted Average Grant Date
Fair Value
Non-vested – January 1, 2026 9,745,980  $ 3.84 
Granted - RSUs
 1,371,962  4.36 
Granted - PSUs 3,679,343  4.06 
Vested
 (2,340,464) 3.38 
Forfeited
 (198,710) 3.69 
Non-vested – June 30, 2026 (1)
 12,258,111  $ 4.05 
(1) Includes 6,392,105 of PSUs that will vest subject to the achievement of Adjusted EBITDA and Free Cash Flow goals by the Company and 2,950,219 awards (RSUs and PSUs) held by the Company’s former Chief Executive Officer that were modified in connection with the sale of the Passenger business. The modification changed the vesting conditions but did not affect the number of awards outstanding. See Note 4 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 for further information.
As of June 30, 2026, unamortized stock-based compensation costs related to restricted share arrangements (RSUs and PSUs) were $20,954 and will be recognized over a weighted average period of 2.0 years (assuming the full service period for PSUs).
Stock-Based Compensation Expense
Stock-based compensation expense for stock options and restricted stock units in the unaudited interim condensed consolidated statements of operations is summarized as follows:
Three Months Ended June 30, Six Months Ended
June 30,
2026 2025 2026 2025
Selling, general and administrative expense $ 3,706  $ 4,917  $ 8,741  $ 8,726