STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of Nonvested Share Activity [Table Text Block]

The following table summarizes the activities for our Long-Term Incentive Share grants for the nine months ended September 30, 2016:

	Unvested Long-Term Incentive Shares
Outstanding January 1, 2016	400,000
Granted	1,040,000
Outstanding September 30, 2016	1,440,000

Stock Option Activity

A summary of stock option activity for the period ended September 30, 2016 is as follows:

	Number of Shares		Option Exercise Price	Weighted Average Exercise Price
Options Outstanding January 1, 2016	2,332,889
Granted	—		—	—
Exercised	(60,050	)	$5.00 - $9.25	$	6.41
Cancelled	(1,000,167	)	$5.00 - $17.71	$	13.59
Options Outstanding September 30, 2016	1,272,672

Outstanding Stock Options

As of September 30, 2016, outstanding stock options were as follows: 

Exercise Price	Options Outstanding	Intrinsic Value		Options Vested	Intrinsic Value		Weighted Average Remaining Life (Years)
$5.00 – $5.50	272,450	$	1,539,448	272,450	$	1,539,448	2.85
$6.90 – $7.66	204,261	736,580		204,261	736,580		5.32
$7.96 – $8.14	67,700	207,580		67,700	207,580		5.12
$9.17 – $10.98	142,263	197,275		142,263	197,275		4.30
$11.18 - $11.99	154,025	—		153,900	—		5.86
$12.28 - $12.97	111,849	—		111,849	—		6.04
$13.00 - $13.48	58,500	—		57,876	—		6.36
$14.03 - $14.88	82,124	—		82,124	—		4.57
$16.08 - $17.11	179,500	—		134,939	—		7.35
	1,272,672	$	2,680,883	1,227,362	$	2,680,883

Stock Incentive Plan

2013 Stock Incentive Plan
Total equity available to issue	2,700,000
Total equity outstanding or exercised	1,998,998
Total equity remaining for future grants	701,002

Outstanding Unvested Restricted Stock Awards

The following table summarizes the activities for our unvested restricted stock awards for the nine months ended September 30, 2016: 

	Unvested Shares
Outstanding January 1, 2016	959,733
Granted	183,791
Vested	(258,582	)
Cancelled	(159,193	)
Outstanding September 30, 2016	725,749

As discussed above, the Company issued 130,265 restricted stock units as part of the July 2016 option exchange. The following table summarizes the activities for our unvested restricted stock units for the nine months ended September 30, 2016:

	Unvested Units
Outstanding January 1, 2016	—
Granted	130,265
Vested	(334	)
Cancelled	(5,168	)
Outstanding September 30, 2016	124,763

Outstanding Long-Term Incentive Shares

The following table summarizes the activities for our unvested restricted stock units for the nine months ended September 30, 2016:

	Unvested Units
Outstanding January 1, 2016	—
Granted	130,265
Vested	(334	)
Cancelled	(5,168	)
Outstanding September 30, 2016	124,763

Long-Term Incentive Share grants consist of five vesting tranches, which will vest at any time prior to the fifth anniversary of their grant date that the closing market price of the Company’s common stock over any 30 consecutive trading days is at or greater than the target price, set forth in the table below.

Target Price Per Share	Long-Term Incentive Shares
$13.00	180,000
$16.00	180,000
$20.00	360,000
$25.00	360,000
$30.00	360,000