XML 43 R28.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2017
Summary of Company's Stock Option Plans

A following table summarizes stock option activity during the year ended December 31, 2017:

 

 

 

Number of

Options

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual

Life (year)

 

 

Aggregate

Intrinsic

Value

(in thousands)

 

Outstanding, December 31, 2016

 

 

1,516,059

 

 

$

7.25

 

 

 

5.19

 

 

$

48

 

Granted

 

 

680,400

 

 

 

5.17

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(394,409

)

 

 

6.71

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2017

 

 

1,802,050

 

 

$

6.59

 

 

 

4.86

 

 

$

8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested

 

 

822,736

 

 

 

7.19

 

 

 

3.85

 

 

 

 

Unvested

 

 

979,314

 

 

 

6.08

 

 

 

5.71

 

 

 

8

 

Vested or expected to vest, December 31, 2017

 

 

1,802,050

 

 

$

6.59

 

 

4.86

 

 

$

8

 

Exercisable, December 31, 2017

 

 

822,736

 

 

$

7.19

 

 

3.85

 

 

 

 

 

 

Assumptions Used to Value Options Granted

 

 

 

Years Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Risk free interest rate

 

1.45%-1.59%

 

 

0.85%-1.45%

 

 

0.87%-1.20%

 

Expected term

 

4.5-4.75 years

 

 

4.75 years

 

 

4.56-4.75 years

 

Dividend yield

 

 

 

 

 

 

 

 

 

Expected volatility

 

53.15%-55.20%

 

 

55.23%-79.29%

 

 

76.86%-83.09%

 

 

Summary of Company's Restricted Stock Activity and Related Information

A summary of the Company’s restricted stock activity and related information for the year ended December 31, 2017 is as follows:

 

 

 

Shares

 

 

Weighted

Average

Grant Date

Fair Value

 

Unvested, December 31, 2016

 

 

40,933

 

 

$

7.42

 

Granted

 

 

118,934

 

 

$

5.03

 

Vested

 

 

(40,933

)

 

$

7.42

 

Forfeited

 

 

(15,500

)

 

$

5.15

 

Unvested, December 31, 2017

 

 

103,434

 

 

$

5.01

 

 

Performance-Based Restricted Stock Units [Member]  
Summary of Company's Restricted Stock Activity and Related Information

A summary of the Company’s performance-based restricted stock activity for the year ended December 31, 2017 is as follows:

 

 

 

Performance-based Restricted Stock Units

 

Unvested, December 31, 2016

 

 

 

Granted

 

 

186,000

 

Vested

 

 

 

Forfeited

 

 

(109,550

)

Unvested, December 31, 2017

 

 

76,450

 

 

Employees [Member]  
Assumptions Used to Value Options Granted

The weighted-average fair value of the options granted to employees during the years ended December 31, 2017, 2016 and 2015 was $2.43, $4.66 and $4.38, respectively based on the following assumptions:

 

 

 

Years Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Risk free interest rate

 

1.45%-1.59%

 

 

0.85%-1.45%

 

 

0.87%-1.20%

 

Expected term

 

4.5-4.75 years

 

 

4.75 years

 

 

4.56-4.75 years

 

Dividend yield

 

 

 

 

 

 

 

 

 

Expected volatility

 

53.15%-55.20%

 

 

55.23%-79.29%

 

 

76.86%-83.09%

 

 

Non-Employees [Member]  
Assumptions Used to Value Options Granted

The weighted-average fair value of the options granted to non-employees during the year ended December 31, 2015 was $4.52 based on the following assumptions:

 

 

 

2015

 

Risk free interest rate

 

1.47%-1.54%

 

Expected term

 

7 years

 

Dividend yield

 

 

 

Expected volatility

 

82.88%-83.09%