Stock-Based Compensation

3 Months Ended

Mar. 31, 2017

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

7. Stock-Based Compensation

Stock Plans

During the three months ended March 31, 2017, the Company granted 18,750 shares of restricted stock with a grant date fair value of $1.25 per share. These costs will be amortized ratably over a period of 12 months.

As of March 31, 2017, there were 1.7 million shares available for future grants under the 2015 Omnibus Equity Incentive Plan.

Employee Stock Purchase Plan

The Company’s most recent six-month offering period ended March 31, 2017 and resulted in 2,002 shares being purchased/granted at a fair value of $0.79 per share.  The next six-month offering period began on April 1, 2017 and will end on September 30, 2017.  These shares will have a fair value of $0.77 per share.

Stock Compensation

The Company accounts for all stock-based payment awards made to employees and directors based on their fair values which is recognized as compensation expense over the vesting period using the straight-line method over the requisite service period for each award as required by FASB ASC Topic No. 718, Compensation-Stock Compensation. Restricted stock is valued using the closing stock price on the date of the grant.  Options are valued using a Black-Scholes valuation model.

Stock-based non-cash compensation expense related to stock options, restricted stock grants and the employee stock purchase plan were recorded in the financial statements as follows (in thousands):

	Three Months Ended March 31,
	2017		2016
	(unaudited)
Cost of revenues	$	—	$	2
Selling and marketing		3		70
Research and development		79		121
General and administrative		137		168
Restructuring expense		227		—
Total non-cash stock compensation expense	$	446	$	361