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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2013
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 March 31, |
|  | 2013 |  |  | 2012 |
Cost of revenue |  | $ | 6 |  |  | $ | 18 |
Selling, general and administrative |  |  | 284 |  |  |  | 238 |
Research and development |  |  | 42 |  |  |  | 25 |
Total stock-based compensation |  |  | 332 |  |  |  | 281 |
Tax effect on stock-based compensation |  |  | — |  |  |  | — |
Net effect on net income (loss) |  | $ | 332 |  |  | $ | 281 |
Effect on net income (loss) attributable to AXT, Inc. per common share: |  |  |  |  |  |  |  |
Basic |  | $ | (0.01 | ) |  | $ | (0.01 | )
Diluted |  | $ | (0.01 | ) |  | $ | (0.01 | )
Weighted-average assumptions | We estimate the fair value of stock options using a Black-Scholes valuation model, consistent with the provisions of ASC 718. There were zero and 80,000 stock options granted with weighted-average grant date fair value of $0 and $3.05 in the three months ended March 31, 2013 and 2012, respectively. The fair value of our stock options granted to employees for the three months ended March 31, 2012 was estimated using the following weighted-average assumptions:
|  | Three months ended March 31, 2012 |
Expected term (in years) |  |  | 4.0 |
Volatility |  |  | 73.41 | %
Expected dividend |  |  | 0 | %
Risk-free interest rate |  |  | 0.76 | %
Summary of stock option activity | The following table summarizes our stock option activities during the three months ended March 31, 2013 (in thousands, except per share data):
Stock Options |  | Shares |  |  | Weighted- average Exercise Price |  |  | Weighted- average Remaining Contractual Life (in years) |  |  | Aggregate Intrinsic Value |
Balance as of January 1, 2013 |  |  | 2,727 |  |  | $ | 3.28 |  |  |  | 6.71 |  |  | $ | 1,353 |
Granted |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Exercised |  |  | (183 | ) |  |  | 1.40 |  |  |  |  |  |  |  |  |
Canceled and expired |  |  | (26 | ) |  |  | 3.80 |  |  |  |  |  |  |  |  |
Balance as of March 31, 2013 |  |  | 2,518 |  |  | $ | 3.41 |  |  |  | 6.84 |  |  | $ | 1,239 |
Options vested and expected to vest as of March 31, 2013 |  |  | 2,502 |  |  | $ | 3.41 |  |  |  | 6.83 |  |  | $ | 1,238 |
Options exercisable as of March 31, 2013 |  |  | 1,523 |  |  | $ | 3.14 |  |  |  | 5.58 |  |  | $ | 1,137 |
Restricted stock awards | A summary of activity related to restricted stock awards for the three months ended March 31, 2013 is presented below:
Stock Awards | Shares |  | Weighted-Average Grant Date Fair Value |
Non-vested as of January 1, 2013 | 238,723 |  | $ | 4.27 |
Granted | — |  | $ | — |
Vested | — |  | $ | — |
Non-vested as of March 31, 2013 | 238,723 |  | $ | 4.27 |

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