XML 56 R18.htm IDEA: XBRL DOCUMENT
v3.20.1

STOCK-BASED COMPENSATION | 12 Months Ended
--- | ---
Dec. 31, 2019
Share-based Payment Arrangement [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION Stock Incentive Plans Options We have one long-term equity incentive plan which we refer to as the 2006 Equity Incentive Plan, which we first amended and restated as of April 20, 2015 and again on March 9, 2017 (“the Restated Plan”). The Restated Plan was approved by our stockholders at our annual stockholders meeting on June 8, 2017. We have reserved for issuance under the 2017 Restated Plan 14,000,000 shares of common stock. We can issue options, stock awards, stock appreciation rights, stock units and cash awards under the 2017 Restated Plan. Certain options granted under the Restated Plan to employees are intended to qualify as incentive stock options under existing tax regulations. Stock options generally vest over three to five years and expire five to ten years from the date of grant. As of December 31, 2019, we had outstanding options to acquire 478,951 shares of our common stock, of which options to acquire 148,456 shares were exercisable. The following summarizes all of our option transactions for the twelve months ended December 31, 2019:
Outstanding Options Under the 2006 Plan |  | Shares |  | Weighted Average Exercise price Per Common Share |  | Weighted Average Remaining Contractual Life(in years) |  | Aggregate Intrinsic Value
Balance, December 31, 2018 |  | 513,282 |  |  | $ | 7.44 |  |  |  |  |
Granted |  | 89,200 |  |  | 10.93 |  |  |  |  |
Exercised |  | (12,500 | ) |  | 6.00 |  |  |  |  |
Canceled, forfeited or expired |  | (111,031 | ) |  | 0.79 |  |  |  |  |
Balance, December 31, 2019 |  | 478,951 |  |  | 8.21 |  |  | 7.33 |  | $ | 5,790,763 |
Exercisable at December 31, 2019 |  | 148,456 |  |  | 7.29 |  |  | 6.42 |  | 1,931,633 |
Aggregate intrinsic value in the table above represents the total pretax intrinsic value (the difference between our closing stock price on December 31, 2019 and the exercise price, multiplied by the number of in-the-money options as applicable) that would have been received by the holder had all holders exercised their options on December 31, 2019. As of December 31, 2019, total unrecognized stock-based compensation expense related to non-vested employee awards was $710,861 which is expected to be recognized over a weighted average period of approximately 1.8 years. Restricted Stock Awards (“RSA’s”) The Restated Plan permits the award of restricted stock awards (“RSA’s”). As of December 31, 2019, we have issued a total of 6,118,276 RSA’s of which 387,934 were unvested at December 31, 2019 . The following summarizes all unvested RSA’s activities during the twelve months ended December 31, 2019:
| RSA's |  | Weighted-Average Remaining Contractual Term (Years) |  | Weighted-Average Fair Value
RSA's unvested at December 31, 2018 | 277,504 |  |  |  |  | $ | 9.77 |
Changes during the period |  |  |  |  |
Granted | 636,656 |  |  |  |  | $ | 11.78 |
Vested | (524,726 | ) |  |  |  | $ | 11.03 |
Forfeited | (1,500 | ) |  |  |  | $ | 12.76 |
RSA's unvested at December 31, 2019 | 387,934 |  |  | 1.13 |  | $ | 11.61 |
We determine the fair value of all RSA’s based of the closing price of our common stock on award date. Other stock bonus awards The Restated Plan also permits the award of stock bonuses not subject to any future service period. These awards are valued and expensed based on the closing price of our common stock on the date of award. During the twelve months ended December 31, 2019 we issued 66,600 shares relating to these awards, amounting to $1.0 million of compensation expense. Plan summary In summary, of the 14,000,000 shares of common stock reserved for issuance under the Restated Plan, at December 31, 2019, we had issued 14,875,694 total shares between options, RSA’s and other stock awards. With options cancelled and RSA’s forfeited amounting to 3,281,040 and 61,703 shares, respectively, there remain 2,467,049 shares available under the Restated Plan for future issuance.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration