Stock-Based Compensation

9 Months Ended

Sep. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

NOTE 5 – Stock-Based Compensation

During the three month period ended September 30, 2015, the Compensation Committee of the Company’s Board of Directors approved grants of options to purchase 43,333 shares of our common stock to employees and a consultant under the 2011 Equity Incentive Plan. Included in these options grants is an option to a consultant for 33,333 shares of our common stock. All options granted during the three month period ended September 30, 2015, vest over a three year period. During the nine month period ended September 30, 2015, the Compensation Committee of the Company’s Board of Directors approved grants of options to purchase 442,333 shares of our common stock to employees, directors and a consultant under the 2011 Equity Incentive Plan. Included in these options grants is an option to a consultant for 33,333 shares of our common stock. Of the options granted, 417,333 options vest over a three year period and 25,000 vest over a one year period. Additionally, during the nine month period ended September 30, 2015, 101,250 options either expired or were forfeited.