Quarterly report pursuant to Section 13 or 15(d)

Note 6 - Stock-based Compensation

Note 6 - Stock-based Compensation

3 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

6 .	Stock-Based Compensation

For the

three

-month periods ended

March

31,

2018

and

2017,

our total stock-based compensation expense, which includes reversals of expense for certain forfeited or cancelled awards, was approximately

$138,000

and

$147,000,

respectively. We have

not

recorded any income tax benefit related to stock-based compensation in either of the

three

-month periods ended

March

31,

2018

and

2017.

In connection with Dr. Goldberg’s appointment as Chief Executive Officer of the Company in

September 2016,

the Board of Directors awarded options to purchase

5,000,000

shares of our common stock to Dr. Goldberg. These stock options will vest

100%

when the average closing price of the Company’s common stock over a period of

five

consecutive trading days equals or exceeds

$2.50

per share, and expire on the

tenth

anniversary of the date of grant. These options have

not

yet been issued as there are insufficient awards available under the

2014

Amended and Restated Stock Incentive Plan (the

“2014

Plan”). In

March 2018,

the Board of Directors authorized an amendment to add

million shares to the

2014

Plan, for a total

million shares available under the

2014

Plan, which remains subject to approval by Navidea’s stockholders.

A summary of the status of our stock options as of

March

31,

2018,

and changes during the

three

-month period then ended, is presented below:

	T hree Months Ended March 31, 2018
	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
Outstanding at beginning of period		3,687,679		$	1.50
Granted		470,000			0.53
Exercised		—			—
Canceled and Forfeited		(5,000	)		0.51
Expired		—			—
Outstanding at end of period		4,152,679		$	1.39	6.8	$	—
Exercisable at end of period		2,159,746		$	2.06	4.5	$	—

A summary of the status of our unvested restricted stock as of

March

31,

2018,

and changes during the

three

-month period then ended, is presented below:

	Three Months Ended March 31, 2018
	Number of Shares			Weighted Average Grant-Date Fair Value
Unvested at beginning of period		150,000		$	0.51
Granted		200,000			0.37
Vested		(100,000	)		0.43
Forfeited		—			—
Unvested at end of period		250,000		$	0.42

As of

March

31,

2018,

there was approximately

$195,000

of total unrecognized compensation expense related to unvested stock-based awards, which we expect to recognize over the remaining weighted average vesting term of

1.3

years.