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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2018
Summary of Stock Option Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Outstanding

 

 

 

 

 

 

Weighted-

 

Weighted-

 

 

 

 

 

Options and

 

 

 

Average

 

Average

 

 

 

 

 

Awards

 

 

 

Exercise

 

Remaining

 

Aggregate

 

 

Available for

 

Number of

 

Price Per

 

Contractual

 

Intrinsic

 

 

Grant

    

Options

    

Share

    

Life (years)

    

Value

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

Balance—December 31, 2017

 

83,929

 

1,593,195

 

$

8.88

 

6.6

 

$

1,997

Immaterial prior period adjustment

 

(1,026)

 

11,477

 

 

4.84

 

 

 

 

 

Authorized

 

1,084,516

 

 —

 

 

 —

 

 

 

 

 

RSUs granted

 

(80,950)

 

 —

 

 

 —

 

 

 

 

 

RSUs cancelled/forfeited

 

3,000

 

 —

 

 

 —

 

 

 

 

 

Options granted

 

(434,665)

 

434,665

 

 

8.52

 

 

 

 

 

Options exercised

 

 —

 

(448,411)

 

 

4.99

 

 

 

$

1,915

Options cancelled/forfeited

 

109,341

 

(115,627)

 

 

8.68

 

 

 

 

 

Balance—December 31, 2018

 

764,145

 

1,475,299

 

$

7.60

 

7.8

 

$

284

Options exercisable—December 31, 2018

 

 

 

617,718

 

$

6.79

 

6.4

 

$

276

 

Schedule of Restricted Stock Unit Activity

 

 

 

 

 

 

 

 

RSUs Outstanding

 

 

 

    

Weighted-

 

 

 

    

Average

 

 

Number of

    

Grant Date

 

 

Restricted Stock

    

Fair Value Per

 

    

Units

    

Share

Balance—December 31, 2017

 

30,680

    

$

10.55

Granted

 

80,950

    

 

8.48

Vested

 

(15,070)

    

 

13.41

Cancelled/forfeited

 

(3,000)

    

 

8.10

Balance—December 31, 2018

 

93,560

    

$

8.38

 

Summary of Stock-Based Compensation Expense

The Company recognized stock-based compensation expense from awards granted to employees and non-employees under its equity incentive plans and from its ESPP as follows, excluding amounts related to GLOBALFOUNDRIES, Inc. (GF) (in thousands):

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

    

2018

    

2017

Research and development

 

$

492

 

$

488

General and administrative

 

 

1,811

 

 

1,297

Sales and marketing

 

 

365

 

 

263

Total

 

$

2,668

 

$

2,048

 

2016 Employee Stock Purchase Plan [Member]  
Schedule of Fair Value Assumptions

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

 

    

2018

    

2017

    

Expected volatility

 

59.5 – 87.8

%  

49.3 – 72.7

%  

Risk-free interest rate

 

0.94 – 2.11

%  

0.49 – 1.02

%  

Expected term (in years)

 

0.5 – 1.0

 

0.5 – 1.0

 

Dividend yield

 

 —

%  

 —

%  

 

Employees [Member]  
Schedule of Fair Value Assumptions

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

 

    

2018

    

2017

    

Expected volatility

 

51.9 – 56.6

%  

46.7 – 52.0

%  

Risk-free interest rate

 

2.64 - 2.94

%  

1.85 - 2.14

%  

Expected term (in years)

 

5.7 – 6.1

 

5.3 – 6.1

 

Dividend yield

 

 —

%  

 —

%  

 

Non-Employee [Member]  
Schedule of Fair Value Assumptions

 

 

 

 

 

 



 

Year Ended December 31, 

 

 

    

2018

    

2017

    

Expected volatility

 

52.9 – 54.8

%

46.7 – 60.5

%

Risk-free interest rate

 

2.68 - 2.97

%

2.09 – 2.44

%

Expected term (in years)

 

8.0 – 8.8

 

7.2 – 9.6

 

Dividend yield

 

 —

%  

 —

%