5. Equity

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Equity

For the six months ended June 30, 2014, equity related transactions were as follows:

● Opexa recognized stock based compensation expense of $77,814 during the six months ended June 30, 2014 related to shares of restricted common stock issued to certain members of Opexa’s management on November 8, 2013.  The shares vested in full on February 28, 2014.

● On February 28, 2014, 109,617 shares of restricted common stock with an aggregate fair value of $199,503 were issued to certain members of Opexa’s management and certain non-employee directors for service on Opexa’s Board. Opexa recognized stock based compensation expense of $71,656 related to these shares during the six months ended June 30, 2014. The restricted shares issued to management vest in full on the earlier of the first anniversary of the grant date or termination of employment without cause following a change of control. The restricted shares issued to non-employee directors vest in four quarterly increments beginning on March 31, 2014.

● On March 19, 2014, 6,000 shares of restricted common stock with an aggregate fair value of $12,000 were issued to a non-employee director for service on Opexa’s Board. Opexa recognized stock based compensation of $4,000 related to these shares during the six months ended June 30, 2014. The shares vest in three quarterly increments beginning on June 30, 2014.

● In late June 2014, Opexa sold an aggregate of 30,700 shares of common stock under the ATM Agreement for gross and net proceeds of $51,390 and $49,847, respectively.  These sales settled and the shares were issued in early July 2014.