XML 45 R34.htm IDEA: XBRL DOCUMENT v3.5.0.2
Stock Incentive Plans (Tables)
6 Months Ended
Jun. 30, 2016
Summary of Option Activity and Related Information

The following table summarizes option activity and related information:

 

 

 

Shares Underlying Stock Options Outstanding

 

 

Weighted-

average

Exercise

Price

 

Balance—December 31, 2015

 

 

1,577,317

 

 

$

6.87

 

Granted

 

 

474,045

 

 

 

5.01

 

Exercised

 

 

(2,770

)

 

 

3.14

 

Forfeited

 

 

(205,049

)

 

 

6.94

 

Expired

 

 

(1,433

)

 

 

11.59

 

Balance—June 30, 2016

 

 

1,842,110

 

 

 

6.38

 

 

 

 

Summary of Options Outstanding and Exercisable Vested or Expected to Vest

Options outstanding that have vested or are expected to vest as of June 30, 2016 are as follows:

 

 

 

Number of

Shares Issued

 

 

Weighted Average

Exercise Price

 

 

Weighted Average Contractual Life (Years)

 

 

Aggregate

Intrinsic Value

(In Thousands)

 

Vested

 

 

926,702

 

 

$

6.17

 

 

 

6.70

 

 

$

977

 

Expected to vest

 

 

781,850

 

 

 

6.59

 

 

 

8.99

 

 

 

35

 

Total

 

 

1,708,552

 

 

 

6.37

 

 

 

7.75

 

 

$

1,012

 

 

Summary of Unvested RSU Activity

Unvested RSU activity for the six months ended June 30, 2016 is summarized below:

 

 

 

Number

of Shares

 

 

Weighted-

Average

Grant Date

Fair Value

 

Unvested balance—December 31, 2015

 

 

106,200

 

 

$

6.49

 

Granted

 

 

111,900

 

 

 

5.12

 

Vested

 

 

(26,550

)

 

 

6.49

 

Forfeited

 

 

(47,105

)

 

 

5.88

 

Unvested balance—June 30, 2016

 

 

144,445

 

 

 

5.63

 

 

Summary of Shares Available for Grant

The following table summarizes shares available for grant under the 2014 Plan:

 

 

 

Shares

Available

for Grant

 

Balance—December 31, 2015

 

 

404,692

 

Additional shares authorized for options and RSUs

 

 

357,075

 

Options granted

 

 

(474,045

)

Options forfeited

 

 

205,049

 

Options expired

 

 

1,433

 

RSUs granted

 

 

(111,900

)

RSUs forfeited

 

 

47,105

 

Balance—June 30, 2016

 

 

429,409

 

 

 

Weighted-Average Assumptions Used to Estimated Fair Value of Share-Based Awards

The estimated fair values of employee stock options and ESPP shares were estimated using the Black-Scholes option-pricing model based on the following weighted-average assumptions:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Employee stock options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expected term (in years)

 

5.3 ‒ 6.0

 

 

 

5.8

 

 

5.3 ‒ 6.0

 

 

 

6.0

 

Expected volatility

 

45.94 – 46.44%

 

 

 

40.04

%

 

39.60 – 46.44%

 

 

 

40.85

%

Risk-free interest rate

 

1.13 – 1.52%

 

 

 

1.69

%

 

1.13 – 1.65%

 

 

 

1.87

%

Expected dividend yield

 

 

—

%

 

 

—

%

 

 

—

%

 

 

—

%

Employee stock purchase plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expected term (in years)

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

Expected volatility

 

 

64.21

%

 

 

34.08

%

 

 

64.21

%

 

 

34.08

%

Risk-free interest rate

 

 

0.49

%

 

 

0.11

%

 

 

0.49

%

 

 

0.11

%

Expected dividend yield

 

 

—

%

 

 

—

%

 

 

—

%

 

 

—

%

 

Summary of Expense Relating to Employee and Nonemployee Stock-Based Payment Awards from Stock Options and RSUs

Stock-based Compensation Expense

The following table summarizes stock-based compensation expense relating to employee and nonemployee stock options, RSUs, and ESPP shares for the three and six months ended June 30, 2016 and 2015, included in the statements of operations as follows (in thousands): 

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Cost of testing

 

$

38

 

 

$

54

 

 

$

66

 

 

$

69

 

Research and development

 

 

100

 

 

 

89

 

 

 

213

 

 

 

136

 

Sales and marketing

 

 

43

 

 

 

36

 

 

 

71

 

 

 

56

 

General and administrative

 

 

186

 

 

 

232

 

 

 

462

 

 

 

431

 

Total

 

$

367

 

 

$

411

 

 

$

812

 

 

$

692

 

 

2016 Inducement Plan [Member]  
Summary of Unvested RSU Activity

Unvested RSU activity for the six months ended June 30, 2016 is summarized below:

 

 

 

Number

of Shares

 

 

Weighted-

Average

Grant Date

Fair Value

 

Unvested balance—December 31, 2015

 

 

—

 

 

$

—

 

Granted

 

 

141,000

 

 

 

5.93

 

Vested

 

 

—

 

 

 

—

 

Forfeited

 

 

—

 

 

 

—

 

Unvested balance—June 30, 2016

 

 

141,000

 

 

 

5.93

 

 

 

Summary of Shares Available for Grant

The following table summarizes shares available for grant under the Inducement Plan:

 

 

 

Shares Available

for Grant

 

Balance—December 31, 2015

 

 

—

 

Additional shares authorized for options and RSUs

 

 

155,500

 

RSUs granted

 

 

(141,000

)

RSUs forfeited

 

 

—

 

Balance—June 30, 2016

 

 

14,500