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Share-Based Payments
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Share-Based Payments Share-Based Payments
The Company measures the fair value of stock options and RSUs issued to employees and nonemployees as of the grant date for recognition of stock-based compensation expense. Stock-based compensation expense for employees and nonemployees is recognized over the requisite service period, which is typically the vesting period. Stock-based compensation costs included in the condensed consolidated statements of operations are presented below:
Three Months Ended 
 June 30,		Six Months Ended 
 June 30,
2024202320242023
Cost of products and services$(5)$17 $12 $35 
Research and development920 582 1,454 1,087 
Selling, general and administrative1,049 1,589 3,079 4,198 
Total$1,964 $2,188 $4,545 $5,320 
Precigen Equity Incentive Plans
In August 2013, Precigen adopted the 2013 Omnibus Incentive Plan ("the 2013 Plan"), for employees and nonemployees which provided for grants of share-based awards, including stock options, RSUs, shares of common stock and other awards, to employees, officers, consultants, advisors, and nonemployee directors. Upon the effectiveness of the 2023 Omnibus Incentive Plan in June 2023, as discussed in the next paragraph, (the "2023 Plan"), no new awards may be granted under the 2013 Plan and any awards granted under the 2013 Plan prior to the effectiveness of the 2023 Plan will remain outstanding under such plan and will continue to vest and/or become exercisable in accordance with their original terms and conditions. As of June 30, 2024, there were 17,633,646 stock options and no RSUs outstanding under the 2013 Plan.
In April 2023, Precigen adopted the 2023 Plan, which became effective upon shareholder approval in June 2023. The 2023 Plan permits the grant of share-based awards, including stock options, restricted stock awards, and RSUs and other awards, to officers, employees and nonemployees. The 2023 Plan authorizes for issuance pursuant to awards under the 2023 Plan an aggregate of 16,418,137 shares, which included shares remaining available for issuance under the 2013 Plan as of the adoption of the 2023 Plan. As of June 30, 2024, there were 6,004,500 stock options and no RSUs outstanding under the 2023 Plan and 8,042,752 shares were available for future grants. On May 28, 2024, Precigen's board of directors approved an increase of 2,000,000 shares of common stock to be reserved for issuance under the 2023 Plan, which was subsequently approved by its shareholders at Precigen's annual meeting on July 5, 2024.
In April 2019, Precigen adopted the 2019 Incentive Plan for Non-Employee Service Providers (the "2019 Plan"), which became effective upon shareholder approval in June 2019. The 2019 Plan permits the grant of share-based awards, including stock options, restricted stock awards, and RSUs, to nonemployee service providers, including board members. As of June 30, 2024, there were 12,000,000 shares authorized for issuance under the 2019 Plan, of which 3,765,623 stock options and 786,709 RSUs were outstanding and 2,739,963 shares were available for future grants.
Stock option activity was as follows:
Number of SharesWeighted Average Exercise PriceWeighted Average Remaining Contractual Term (Years)
Balances at December 31, 202322,057,340 $6.90 7.47
Granted6,852,634 1.41 
Exercised(36,458)1.42 
Forfeited(611,750)1.51 
Expired(857,997)16.23 
Balances at June 30, 202427,403,769 5.36 7.47
Exercisable at June 30, 202415,595,522 8.17 6.20

RSU activity was as follows:
Number of Restricted Stock UnitsWeighted Average Grant Date Fair ValueWeighted Average Remaining Contractual Term (Years)
Balances at December 31, 2023961,534 $1.17 0.19
Granted4,464,724 1.42 
Vested(4,639,549)1.37 
Forfeited— — 
Balances at June 30, 2024786,709 1.43 0.62
Precigen currently uses treasury shares and authorized and unissued shares to satisfy share award exercises.