Shapeways Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2021

The assumptions used to estimate the fair value of stock options granted during the periods presented were as follows:


	Three and Nine Months Ended September 30,
	2021			2020
Strike price	$	0.17		$	0.37
Expected term (in years)		5.55 - 6.05			5.00 - 6.04
Expected volatility		57.09% - 57.81	%		49.15% - 52.41	%
Risk-free interest rate		0.50% - 0.57	%		0.37% - 1.46	%
Dividend yield		—			—

The following table summarizes the Company’s stock option plan and the activity:


	Shares Underlying Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)
Outstanding at January 1, 2021 (as previously reported)		8,247,340		$	0.44		6.72
Retroactive application of reverse recapitalization		(1,967,440	)		—		—

Outstanding as of January 1, 2021, effect of Merger		6,279,900		$	0.58		6.64
Granted		29,420			0.36		9.82
Forfeited		(145,878	)		0.43		—
Exercised		(35,895	)		0.43		—

Outstanding at March 31, 2021		6,127,547		$	0.58		6.53
Granted		—			—		—
Forfeited		(39,309	)		0.44		—
Exercised		(63,506	)		0.45		—

Outstanding at June 30, 2021		6,024,732		$	0.59		6.26
Granted		—			—		—
Forfeited		(10,496	)		0.40		—
Exercised		(1,113,029	)		0.44		—

Outstanding at September 30, 2021		4,901,207		$	0.62		6.80

Exercisable at September 30, 2021		4,833,059		$	0.62		6.79