5. Equity

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Equity

For the nine months ended September 30, 2014, equity related transactions were as follows:

       ● Opexa recognized stock based compensation expense of $77,814 during the nine months ended September 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 $118,307 related to these shares during the nine months ended September 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 $5,877 related to these shares during the nine months ended September 30, 2014. The shares vest in three quarterly increments beginning on June 30, 2014.

       ● During the three months ended September 30, 2014, Opexa settled sales of 518,412 shares of stock generating gross and net proceeds including amortization of deferred financing costs of $674,126 and $648,175 respectively and were issued pursuant to the ATM. Of these shares, 30,700 shares were sold in late June 2014 and settled in early July 2014.