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Stock-Based Awards

6 Months Ended

Jun. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Awards

10. Stock-Based Awards

The Company grants equity awards to employees and directors which include restricted stock awards, restricted stock units and stock options. Stock options may be issued for terms of ten years and may vest after at least one year and have an exercise price equal to the Company’s stock price on the grant date. Restricted stock awards and restricted stock units are generally valued based on the Company’s stock price on the grant date. The Company estimates the fair value for stock options using the Black-Scholes option pricing model. All restricted stock awards, restricted stock units and stock option awards require future service as a condition of vesting with certain awards subject to acceleration under certain conditions.

On June 20, 2016, the Company’s stockholders approved a new equity award plan under which the Company can issue up to 10,000,000 shares of common stock (less one share for every share granted under prior plans since March 31, 2016 and inclusive of shares available under the prior plans as of March 31, 2016) in the form of stock options and other stock-based awards. The Company also has issued from time to time stock-based awards outside a plan.

Stock-based compensation expense for the three months ended June 30, 2017 and 2016 was approximately $3,530 and $3,767, respectively, and for the six months ended June 30, 2017 and 2016 was approximately $6,951 and $7,270, respectively.

A summary of unrecognized stock-based compensation expense and average remaining vesting period is as follows:

		June 30, 2017
		Unrecognized Stock- Based Compensation				Average Remaining Vesting Period
Employees and directors		$	20,999				1.80

A summary of stock options, restricted stock and restricted stock unit activity for the three months ended June 30, 2017 is as follows:

		Stock Options				Restricted Stock Awards				Restricted Stock Units
Balance at April 1, 2017			1,363,247				2,105,743				3,759
Granted			—				229,908				—
Exercised/vested			(37,300	)			(87,480	)			—
Forfeitures			—				(6,538	)			(1,483	)
Balance at June 30, 2017			1,325,947				2,241,633				2,276

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- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-URI http://asc.fasb.org/topic&trid=2228938

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-URI http://asc.fasb.org/subtopic&trid=2208855

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- References

No definition available.

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