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Accounting for Stock-Based Compensation (Tables)

6 Months Ended

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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Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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