XML 60 R40.htm IDEA: XBRL DOCUMENT v2.4.0.8
STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION EXPENSE (Tables)
 12 Months Ended
Dec. 31, 2013
Stockholders Equity And Share Based Compensation Expense [Abstract]  
Share-based compensation expense
The following table sets forth the share-based compensation expense included in the accompanying Consolidated Statements of Operations (in thousands):
 
Year Ended December 31,
 
2013
 
2012
 
2011
Costs of product sales
$
1,002

 
$
1,554

 
$
1,143

Research and development
1,331

 
1,337

 
1,850

Selling, general and administrative (1)
5,394

 
14,316

 
5,778

Total share-based compensation expense
$
7,727

 
$
17,207

 
$
8,771

(1) Includes $8.3 million of share-based compensation expense related to the acceleration of unvested stock options in connection with the Acquisition during the year ended December 31, 2012.
Fair value of options estimated at the date of grant with weighted-average assumptions
The fair value of options was estimated at the respective dates of grant using the BSM option pricing model with the following weighted‑average assumptions:
 
Year Ended December 31,
 
2013
 
2012
 
2011
Risk free interest rate
1.0
%
 
0.6
%
 
1.5
%
Expected dividend yield
—
%
 
—
%
 
—
%
Expected volatility
68
%
 
67
%
 
67
%
Expected option term (in years)
4.6

 
4.6

 
4.5
Stock options plan activity
Activity under the Company's stock plans for the year ended December 31, 2013 is as follows (in thousands, except per share amounts):
 
Shares
 
Weighted-Average
Exercise Price
Per Share
 
Weighted-Average
Remaining
Contractual Terms
 
Aggregate
Intrinsic
Value
 
 
 
 
 
(in years)
 
(in thousands)
Outstanding at December 31, 2012
6,101

 
$
7.75

 
 
 
 
Grants
988

 
4.43

 
 
 
 
Exercises
(424
)
 
4.03

 
 
 
 
Forfeitures or expirations
(1,523
)
 
10.02

 
 
 
 
Outstanding at December 31, 2013
5,142

 
$
6.75

 
3.87
 
$
15,475

 
 
 
 
 
 
 
 
Exercisable at December 31, 2013
2,979

 
$
8.36

 
2.68
 
$
6,761

 
 
 
 
 
 
 
 
Vested and expected to vest at December 31, 2013
4,808

 
$
6.91

 
3.72
 
$
14,121
Summary of outstanding and exercisable options
The following table summarizes information concerning currently outstanding and exercisable options at December 31, 2013:
Range of Exercise Prices
 
Options Outstanding
 
Options Exercisable
 
 
 
 
 
 
Weighted-Average
 
Weighted-Average
 
 
 
Weighted-Average
 
 
 
 
 
 
Remaining
 
Exercise Price
 
 
 
Exercise Price
Lower
 
Upper
 
Number
 
Contractual Life
 
Per Share
 
Number
 
Per Share
 
 
 
 
(in thousands)
 
(in years)
 
 
 
(in thousands)
 
 
$
2.63

 
$
3.84

 
897

 
5.07
 
$
3.52

 
243

 
$
2.97

$
3.86

 
$
4.16

 
686

 
5.34
 
$
3.93

 
200

 
$
3.93

$
4.21

 
$
4.44

 
629

 
3.75
 
$
4.24

 
387

 
$
4.22

$
4.46

 
$
5.29

 
672

 
4.42
 
$
4.84

 
390

 
$
4.94

$
5.31

 
$
6.51

 
634

 
4.38
 
$
5.73

 
345

 
$
5.77

$
6.57

 
$
8.29

 
709

 
3.66
 
$
7.54

 
500

 
$
7.75

$
8.71

 
$
19.92

 
734

 
1.07
 
$
12.66

 
733

 
$
12.66

$
21.36

 
$
37.22

 
181

 
1.05
 
$
25.82

 
181

 
$
25.81

Total
 
 

 
5,142

 
3.87
 
$
6.75

 
2,979

 
$
8.36
Reserved shares
At December 31, 2013, the Company has shares reserved for future issuance as follows (in thousands):
Options outstanding
5,142

Options available for future grants
4,684

Convertible notes
17,857

Total at December 31, 2013
27,683
Summary of RSAs activity
The following tables summarize the Company's restricted stock activity for the year ended December 31, 2013 (in thousands, except per share amounts):
 
Number
of Shares
 
Weighted-Average
Grant Date Fair Value per Share
Restricted stock awards
 
 
 
Outstanding at December 31, 2012
167

 
$
5.89

Granted
—

 
—

Vested
(130
)
 
5.68

Forfeited
(28
)
 
6.77

Outstanding at December 31, 2013
9

 
$
6.11

 
 
 
 
Restricted stock units
 

 
 

Outstanding at December 31, 2012
2,511

 
$
4.51

Granted
1,972

 
6.30

Vested
(692
)
 
4.62

Forfeited
(588
)
 
4.49

Outstanding at December 31, 2013
3,203

 
$
5.59
Performance shares award outstanding activity
The following table summarizes the Company's PRSU activity for the year ended December 31, 2013 (in thousands, except per share amounts):
 
Number
of Shares
 
Weighted-Average
Grant Date Fair Value per PRSU
Performance based restricted stock awards
 
 
 
Outstanding at December 31, 2012
1,056

 
$
3.98

Granted
487

 
4.34

Vested
(189
)
 
4.22

Forfeited
(405
)
 
4.24

Outstanding at December 31, 2013
949

 
$
4.01
Assumptions Used to Value Employees Stock Purchase Rights
During the years ended December 31, 2013 and 2012, the fair value of shares under the ESPP was estimated using the following assumptions:
 
2013
 
2012
Risk free interest rate
0.16
%
 
0.1
%
Expected dividend yield
—
%
 
—
%
Expected volatility
60
%
 
64
%
Expected term (in years)
0.75

 
0.7