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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2012
Summary of Option Activity

Information regarding option activity for the nine months ended September 30, 2012 under the Plans is summarized below:

 

     Options
Outstanding
    Weighted-
Average
Exercise
Price Per
Share
     Weighted-
Average
Remaining
Contractual
Term
(in years)
     Aggregate
Intrinsic
Value
 

Options outstanding at January 1, 2012

     2,823,400      $ 4.05         

Granted

     357,190        3.57         

Exercised

     (426,100     3.12         

Forfeited/Cancelled

     (128,800     4.72         
  

 

 

         

Options outstanding at September 30, 2012

     2,625,690      $ 4.11         6.21       $ 4,960,713   
  

 

 

         

Options exercisable at September 30, 2012

     1,549,700      $ 4.32         4.69       $ 2,632,460   
  

 

 

         

Vested and expected to vest at September 30, 2012 (1)

     2,479,847      $ 4.11         6.09       $ 4,678,761   
  

 

 

   

 

 

    

 

 

    

 

 

 

 

(1) This represents the number of vested options as of September 30, 2012 plus the number of unvested options expected to vest as of September 30, 2012 based on the unvested outstanding options at September 30, 2012 adjusted for estimated forfeiture rates of 8% for awards granted to non-executive level employees and 3% for awards granted to executive level employees.