XML 53 R37.htm IDEA: XBRL DOCUMENT v3.6.0.2
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2016
Summary of Stock Options Activity under Plans and Related Information
A summary of our stock option activity under the Plans and related information is as follows:
 
Number of
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
(in years)
 
Aggregate
Intrinsic
Value(1)
 
 
 
 
 
 
 
(in thousands)
Balance at December 31, 2015
11,900,671

 
$
4.20

 
7.7
 
$
999

Granted
4,286,008

 
$
2.15

 
 
 
 
Exercised
(380,145
)
 
$
1.83

 
 
 
 
Forfeited, canceled or expired
(3,099,497
)
 
$
4.26

 
 
 
 
Balance at December 31, 2016
12,707,037

 
$
3.56

 
7.4
 
$
137

Options vested and exercisable at December 31, 2016
7,553,273

 
$
4.34

 
6.3
 
$
137

Options vested and expected to vest as of December 31, 2016
11,543,799

 
$
3.68

 
7.2
 
$
137

(1) 
The aggregate intrinsic value represents the value by which our closing stock price on the last trading day of the year ended December 31, 2016 exceeds the exercise price of the stock multiplied by the number of options outstanding or exercisable, excluding any that have a negative intrinsic value.
Summary of Stock Options Outstanding by Exercise Price Range
The following table presents the composition of options outstanding and vested and exercisable as of December 31, 2016:
 
Options Outstanding
 
Options Vested and Exercisable
Range of
Exercise Prices
Number of
Options
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual
Term
(in years)
 
Number of
Vested and
Exercisable
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
(in years)
$0.12-2.39
3,107,393

 
$
1.72

 
7.4
 
1,536,600

 
$
1.71

 
5.5
$2.46-2.60
4,087,859

 
$
2.52

 
6.8
 
2,823,284

 
$
2.54

 
6.2
$2.62-2.72
3,215,695

 
$
2.66

 
9.1
 
1,115,374

 
$
2.68

 
8.6
$2.76-8.77
1,008,356

 
$
5.50

 
6.4
 
823,328

 
$
5.94

 
6.0
$8.92-27.03
1,287,734

 
$
12.07

 
5.6
 
1,254,687

 
$
12.06

 
5.6
Totals
12,707,037

 
$
3.56

 
7.4
 
7,553,273

 
$
4.34

 
6.3
Stock-Based Compensation Expense Allocation
Stock-based compensation expense (including amounts related to restricted stock units, modifications and exchanges discussed below) was as follows (in thousands):
 
2016
 
2015
 
2014
Employees
$
10,862

 
$
14,652

 
$
23,881

Nonemployees
1,050

 
1,032

 
1,668

Total stock based compensation expense
$
11,912

 
$
15,684

 
$
25,549

Comprised as follows:
 
 
 
 
 
Continuing operations: Research and development
$
2,623

 
$
4,562

 
$
7,407

Continuing operations: Sales, general and administrative
8,827

 
10,052

 
16,938

Total continuing operations
11,450

 
14,614

 
24,345

Discontinued operations
462

 
1,070

 
1,204

Total stock based compensation expense
$
11,912

 
$
15,684

 
$
25,549
Stock-based Compensation Expense
Restricted Stock Units—A summary of our restricted stock unit activity was as follows:
 
Number of
Shares
 
Weighted
Average
Grant Date
Fair Value
Unvested at December 31, 2015
1,883,552

 
$
9.85

Granted
681,325

 
$
2.16

Vested
(682,064
)
 
$
6.87

Canceled
(608,854
)
 
$
6.13

Unvested at December 31, 2016
1,273,959

 
$
4.22
Options to purchase common stock  
Weighted-Average Assumptions Used to Estimate Grant Date Fair Value of Stock-Based Awards
The grant date fair value of employee stock-based awards was estimated using the following weighted-average assumptions:  
 
2016
 
2015
 
2014
Expected term (in years)
5.1-6.1
 
5.3-6.0
 
5.3-6.0
Volatility
75%-80%
 
67%-73%
 
51%-68%
Risk-free interest rate
1.05%-2.02%
 
0.86%-1.85%
 
1.58%-2.0%
Dividend yield
—%
 
—%
 
—%
Non Employee Stock Awards  
Weighted-Average Assumptions Used to Estimate Grant Date Fair Value of Stock-Based Awards
The fair value of non-employee stock-based awards was estimated using the following weighted-average assumptions:  
 
2016
 
2015
 
2014
Expected term (in years)
8.9-9.2
 
8.2-8.6
 
8.3-8.6
Volatility
69%-70%
 
65%-67%
 
53%-64%
Risk-free interest rate
1.42%-2.32%
 
1.83%-2.21%
 
2.0%-2.5%
Dividend yield
—%
 
—%
 
—%
Restricted stock units  
Stock-Based Compensation Expense Allocation
Stock-based compensation expense related to RSUs was as follows (in thousands):
 
Year ended December 31,
 
2016
 
2015
 
2014
Continuing operations
$
3,796

 
$
5,076

 
$
8,077

Discontinued operations
70

 
556

 
509

Total stock based compensation expense
$
3,866

 
$
5,632

 
$
8,586