XML 41 R29.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation Expense (Tables)

6 Months Ended

Jun. 30, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Based Compensation Expense Recognized in Accompanying Condensed Consolidated Statements of Operations

Total stock-based compensation expense recognized in the accompanying condensed consolidated statements of operations for the three and six months ended June 30, 2020 and 2019 was as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
RSUs and options	$	2,122	$	2,527	$	3,188	$	3,397
Employee stock purchase plan		63		41		125		275
Total stock compensation expense	$	2,185	$	2,568	$	3,313	$	3,672

Schedule of Employee Awards and Non-employee Director Award Plan Activity

During 2020, the Company granted the following awards:

	Three Months Ended			Three Months Ended			Six Months Ended
	March 31, 2020			June 30, 2020			June 30, 2020
Employee awards:
RSUs		230,000	⁽¹⁾		2,109,228	⁽²⁾		2,339,228
Options		78,500	⁽³⁾		117,900	⁽⁴⁾		196,400
Non-employee director awards:
RSUs		42,067	⁽⁵⁾		772,685	⁽⁶⁾		814,752
Total awards:
RSUs		272,067			2,881,913			3,153,980
Options		78,500			117,900			196,400

(1)	RSUs had a weighted average grant date fair value of $1.25 per share and a primary vesting period of four years.

(2)	RSUs had a weighted average grant date fair value of $1.34 per share and a primary vesting period of four years.

(3)

Options had a weighted average exercise price of $1.25 per share and vest over a four year period. The weighted average grant date fair value was $0.93 per share, as determined using a Black-Scholes option pricing model, with the following key assumptions: risk-free interest rate of 0.79%; expected life of approximately 5.67 years; volatility of 93.83%, and dividend yield of zero.

(4)

Options had a weighted average exercise price of $1.34 per share and vest over a four year period. The weighted average grant date fair value was $0.99 per share, as determined using a Black-Scholes option pricing model, with the following key assumptions: risk-free interest rate of 0.39%; expected life of approximately 5.67 years; volatility of 93.83%, and dividend yield of zero.

(5)	RSUs had a weighted average grant date fair value of $1.17 per share and vested immediately upon grant, but the underlying shares of common stock will not be delivered until there is a separation of service, such as resignation, retirement or death.

(6)	RSUs had a weighted average grant date fair value of $1.34 per share and vested immediately upon grant, but the underlying shares of common stock will not be delivered until there is a separation of service, such as resignation, retirement or death.