v3.19.1
COMPENSATION PLANS (Tables)
12 Months Ended
Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of non-vested restricted shares of common stock
A summary of all activity relating to our restricted shares for the year ended December 31, 2018, is presented below:
 
 
 
 
Weighted Average
Grant-Date
Fair Value
 
 
Shares
 
Restricted shares of common stock, beginning of period
 
3,163,903

 
$
1.73

Granted with service only condition
 
277,911

 
$
4.16

Granted with service and performance conditions
 
187,296

 
$
3.91

Vested, service only condition
 
(1,112,256
)
 
$
2.14

Vested, service and market conditions
 
(71,251
)
 
$
2.10

Forfeited, service only condition
 
(305,002
)
 
$
1.67

Forfeited, service and market conditions
 

 
$

Forfeited, service and performance conditions
 
(187,296
)
 
$
3.91

Restricted shares of common stock, end of period
 
1,953,305

 
$
1.87

Summary of stock option activity
A summary of all stock option activity for the year ended December 31, 2018, is as follows:
 
 
Shares
 
Weighted Average Exercise Price
 
Aggregate Intrinsic Value1
 
Weighted Average Remaining Contractual Life
Outstanding non-qualified stock
options, beginning of period
 
2,075,821

 
$3.74
 
 
 
 
Granted
 
1,558,185

 
$3.90
 
 
 
 
Exercised
 
(95,004
)
 
$1.20
 
 
 
 
Forfeited
 
(174,025
)
 
$1.21
 
 
 
 
Expired
 
(13,293
)
 
$30.49
 
 
 
 
Outstanding non-qualified stock
options, end of period
 
3,351,684

 
$3.91
 
$1,810,165
 
8.2
 
 
 
 
 
 
 
 
 
Vested or expected to vest,
end of period
 
3,351,684

 
$3.91
 
$1,810,165
 
8.2
 
 
 
 
 
 
 
 
 
Exercisable non-qualified
stock options, end of period
 
876,084

 
$6.44
 
$845,691
 
6.4
Service And Market Condition Based Vesting [Member] | Stock Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of stock options, valuation assumptions
Valuation models require the input of highly subjective assumptions, including the expected volatility of the price of the underlying stock. We used the following assumptions to compute the weighted average fair market value of options with service and market conditions granted in 2018 and 2017:
 
 
2018
 
2017
 
2016
Closing stock price on grant date
 
$
3.90

 
$
2.29

 
$
1.03

Risk free interest rate
 
2.9
%
 
2.2
%
 
1.9
%
Dividend yield
 
%
 
%
 
%
Estimated volatility
 
75.0
%
 
81.7
%
 
86.2
%
Expected life
 
10.00 years

 
10.00 years

 
10.00 years

Service And Market Condition Based Vesting [Member] | Restricted Shares [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of stock options, valuation assumptions
Valuation models require the input of highly subjective assumptions, including the expected volatility of the price of the underlying stock. We used the following assumptions to compute the weighted-average grant date fair market value of restricted stock with service and market conditions granted in 2017 and 2016:


 
 
2017
 
2016
Closing stock price on grant date
 
$
2.29

 
$
1.03

Risk free interest rate
 
1.7
%
 
1.3
%
Dividend yield
 
%
 
%
Estimated volatility
 
81.7
%
 
86.2
%
Expected life
 
5.00 years

 
5.00 years

Service Based Vesting [Member] | Stock Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of stock options, valuation assumptions
Option valuation models require the input of highly subjective assumptions, including the expected volatility of the price of the underlying stock. We used the following assumptions to compute the weighted average fair market value of options with service-based vesting granted in 2018, 2017 and 2016:
 
 
2018
 
2017
 
2016
Closing stock price on grant date
 
$
3.90

 
$
2.29

 
$
1.03

Risk free interest rate
 
1.1
%
 
1.6
%
 
1.8
%
Dividend yield
 
%
 
%
 
%
Estimated volatility
 
72.8
%
 
71.5
%
 
63.8
%
Expected option life
 
6.00 years

 
6.00 years

 
6.25 years