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Accounting for Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2012
Accounting for Stock-Based Compensation [Abstract] |
Compensation costs related to stock based awards | The following table summarizes compensation costs related to our stock-based awards (in thousands, except per share data):
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
|  | 2012 |  | 2011 |  | 2012 |  | 2011 |
Stock-based compensation in the form of employee stock optionsand restricted stock awards, included in: |  |  |  |  |  |  |  |  |
Cost of revenue |  | $ | 19 |  | $ | 20 |  | $ | 37 |  | $ | 40 |
Selling, general and administrative |  | 238 |  | 183 |  | 476 |  | 359 |
Research and development |  | 35 |  | 12 |  | 60 |  | 23 |
Total stock-based compensation |  | 292 |  | 215 |  | 573 |  | 422 |
Tax effect on stock-based compensation |  | - |  | - |  | - |  | - |
Net effect on net income |  | $ | 292 |  | $ | 215 |  | $ | 573 |  | $ | 422 |
Effect on net income attributable to AXT, Inc. per common share: |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.01 |  | $ | 0.01 |  | $ | 0.02 |  | $ | 0.01 |
Diluted |  | $ | 0.01 |  | $ | 0.01 |  | $ | 0.02 |  | $ | 0.01 |
Weighted-average assumptions | There were 24,000 and zero stock options granted with weighted average grant date fair value of $2.15 and none in the three months ended June 30, 2012 and 2011, respectively. There were 104,000 and zero stock options granted with weighted average grant date fair value of $2.84 and none in the six months ended June 30, 2012 and 2011, respectively. The fair value of our stock options granted to employees for the three months and six months ended June 30, 2012 was estimated using the following weighted-average assumptions:
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
|  | 2012 |  | 2011 |  | 2012 |  | 2011 |
Expected term (in years) |  |  | 4.0 |  |  | - |  |  | 4.0 |  |  | - |
Volatility |  | 74.82 | % | - |  | 73.74 | % | - |
Expected dividend |  | 0 | % | - |  | 0 | % | - |
Risk-free interest rate |  | 0.56 | % | - |  | 0.71 | % | - |
Stock option transactions | The following table summarizes the stock option transactions during the six months ended June 30, 2012 (in thousands, except per share data):
|  | Shares |  | Weighted- average Exercise Price |  | Weighted- average Remaining Contractual Life (in years) |  | Aggregate Intrinsic Value |
Options outstanding as of January 1, 2012 |  | 2,380 |  | $ | 3.25 |  | 6.25 |  | $3,456 |
Granted |  | 104 |  | 5.22 |  |  |  |  |
Exercised |  | (100 | ) | 2.19 |  |  |  |  |
Canceled and expired |  | (30 | ) | 9.69 |  |  |  |  |
Options outstanding as of June 30, 2012 |  | 2,354 |  | $ | 3.30 |  | 6.23 |  | $ | 2,960 |
Options vested and expected to vest as of June 30, 2012 |  | 2,309 |  | $ | 3.27 |  | 6.18 |  | $ | 2,947 |
Options exercisable as of June 30, 2012 |  | 1,446 |  | $ | 2.65 |  | 4.78 |  | $ | 2,465 |
Stock options outstanding and exercisable | The options outstanding and exercisable as of June 30, 2012 were in the following exercise price ranges:
Options Outstanding as of June 30, 2012 |  | Options Exercisable as of June 30, 2012 |
Range of Exercise Price |  | Shares |  | Weighted- average Exercise Price |  | Weighted- average Remaining Contractual Life in years |  | Shares |  | Weighted- Average Exercise Price |
$1.18 - $1.38 |  | 407,001 |  | $ | 1.31 |  | 1.99 |  | 407,001 |  | $ | 1.31 |
$1.40 - $1.40 |  | 1,094 |  | $ | 1.40 |  | 2.70 |  | 1,094 |  | $ | 1.40 |
$1.59 - $1.59 |  | 328,460 |  | $ | 1.59 |  | 6.79 |  | 247,284 |  | $ | 1.59 |
$1.88 - $1.91 |  | 8,000 |  | $ | 1.90 |  | 2.25 |  | 8,000 |  | $ | 1.90 |
$2.04 - $2.04 |  | 441,775 |  | $ | 2.04 |  | 7.32 |  | 283,874 |  | $ | 2.04 |
$2.19 - $4.09 |  | 201,510 |  | $ | 2.72 |  | 2.01 |  | 177,510 |  | $ | 2.56 |
$4.79 - $4.79 |  | 366,500 |  | $ | 4.79 |  | 9.33 |  | 0 |  | $ | 0.00 |
$4.81 - $5.61 |  | 144,610 |  | $ | 5.26 |  | 7.36 |  | 64,610 |  | $ | 4.84 |
$5.83 - $5.83 |  | 362,450 |  | $ | 5.83 |  | 8.09 |  | 176,380 |  | $ | 5.83 |
$6.31 - $7.82 |  | 92,295 |  | $ | 6.65 |  | 5.98 |  | 79,910 |  | $ | 6.46 |
|  | 2,353,695 |  | $ | 3.30 |  | 6.23 |  | 1,445,663 |  | $ | 2.65 |
Restricted stock awards | Restricted stock awards A summary of activity related to restricted stock awards for the six months ended June 30, 2012 is presented below:
Stock Awards |  | Shares |  | Weighted-Average Grant Date Fair Value |
Non-vested as of January 1, 2012 |  | 223,127 |  | $ | 4.47 |
Granted |  | 30,768 |  | $ | 3.90 |
Vested |  | (54,825 | ) | $ | 1.92 |
Non-vested as of June 30, 2012 |  | 199,070 |  | $ | 5.08 |
There were 30,768 and 16,548 restricted stock awards granted with weighted average grant date fair value of $3.90 and $7.25 in the three months ended June 30, 2012 and 2011, respectively. There were 54,825 and 49,313 shares of restricted stock awards vested with weighted average grant date fair value of $1.92 and $1.33 in the three months ended June 30, 2012 and 2011, respectively. As of June 30, 2012, we had $807,000 of unrecognized compensation expense, related to restricted stock awards, which will be recognized over the weighted average period of 2.6 years.

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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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