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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 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 June 30,								Six Months Ended June 30,
		2013				2012				2013				2012
Cost of revenue		$	5			$	19			$	11			$	37
Selling, general and administrative			291				238				575				476
Research and development			42				35				84				60
Total stock-based compensation			338				292				670				573
Tax effect on stock-based compensation			—				—				—				—
Net effect on net income (loss)		$	338			$	292			$	670			$	573

Stock-based compensation reduced the net income and increased the net loss by the following amounts:

Effect on net income (loss) attributable to AXT, Inc. per common share:
Basic		$	(0.01	)		$	(0.01	)		$	(0.02	)		$	(0.02	)
Diluted		$	(0.01	)		$	(0.01	)		$	(0.02	)		$	(0.02	)

Weighted-average assumptions

We estimate the fair value of stock options using the Black-Scholes valuation model. There were zero and 24,000 stock options granted with weighted average grant date fair values of $0 and $2.15 in the three months ended June 30, 2013 and 2012, respectively. There were zero and 104,000 stock options granted with weighted average grant date fair values of $0 and $2.84 in the six months ended June 30, 2013 and 2012, respectively. The fair value of our stock options granted to employees for the three and six months ended June 30, 2012 was estimated using the following weighted-average assumptions:

		Three Months Ended June 30, 2012				Six Months Ended June 30, 2012
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	%

Summary of stock option activity

The following table summarizes the stock option transactions during the six months ended June 30, 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			(195	)			1.40
Canceled and expired			(38	)			4.30
Balance as of June 30, 2013			2,494			$	3.41				6.64			$	969
Options vested and expected to vest as of June 30, 2013			2,481			$	3.41				6.63			$	969
Options exercisable as of June 30, 2013			1,600			$	3.18				5.51			$	938

Restricted stock awards

A summary of activity related to restricted stock awards for the six months ended June 30, 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			43,636			$	2.75
Vested			(24,781	)		$	4.44
Non-vested as of June 30, 2013			257,578			$	4.00

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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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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)

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ 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 (f)(2)

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