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Stock-Based Compensation | 3 Months Ended
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Mar. 31, 2020
Stock-Based Compensation |
Stock-Based Compensation | Note 9. Stock-Based Compensation We account for stock-based compensation in accordance with the provisions of ASC Topic 718, Compensation-Stock Compensation (“ASC 718”), which established accounting for stock-based awards exchanged for employee services. Stock-based compensation cost is measured at each grant date, based on the fair value of the award, and is recognized as expense over the employee’s requisite service period of the award. All of our stock compensation is accounted for as an equity instrument. The following table summarizes compensation costs related to our stock-based awards (in thousands, except per share data):
|  | Three Months Ended |
|  | March 31, |
|  | 2020 |  | 2019 |
Cost of revenue |  | $ | 28 |  | $ | 31 |
Selling, general and administrative |  |  | 492 |  |  | 437 |
Research and development |  |  | 123 |  |  | 90 |
Total stock-based compensation |  |  | 643 |  |  | 558 |
Tax effect on stock-based compensation |  |  | — |  |  | — |
Net effect on net income (loss) |  | $ | 643 |  | $ | 558 |
As of March 31, 2020, the unamortized compensation costs related to unvested stock options granted to employees under our stock option plan was approximately $1.3 million, net of estimated forfeitures of $106,000. These costs will be amortized on a straight-line basis over a weighted-average period of approximately 2.8 years and will be adjusted for subsequent changes in estimated forfeitures. We did not capitalize any stock-based compensation to inventory as of March 31, 2020 and December 31, 2019 due to the immateriality of the amount. We estimate the fair value of stock options using the Black-Scholes valuation model, consistent with the provisions of ASC 718. There were no options granted in the three months ended March 31, 2020 and 2019. The following table summarizes the stock option transactions during the three months ended March 31, 2020 (in thousands, except per share data):
|  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  |  |  | average |  |  |  |
|  |  |  | Weighted- |  | Remaining |  |  |  |
|  | Number of |  | average |  | Contractual |  | Aggregate |
|  | Options |  | Exercise |  | Life |  | Intrinsic |
Stock Options |  | Outstanding |  | Price |  | (in years) |  | Value |
Balance as of January 1, 2020 |  | 2,953 |  | $ | 4.00 |  | 5.95 |  | $ | 3,040 |
Granted |  | — |  |  | — |  | 0 |  |  | 0 |
Exercised |  | (190) |  |  | 2.32 |  | 0 |  |  | 0 |
Canceled and expired |  | — |  |  | — |  | 0 |  |  | 0 |
Balance as of March 31, 2020 |  | 2,763 |  | $ | 4.12 |  | 5.82 |  | $ | 954 |
Options vested as of March 31, 2020 and unvested options expected to vest, net of forfeitures |  | 2,728 |  | $ | 4.12 |  | 5.78 |  | $ | 950 |
Options exercisable as of March 31, 2020 |  | 2,031 |  | $ | 4.01 |  | 4.72 |  | $ | 890 |
The aggregate intrinsic value in the table above represents the total pretax intrinsic value, based on our closing price of $3.21 on March 31, 2020, which would have been received by the option holder had all option holders exercised their options on that date. Restricted stock awards A summary of activity related to restricted stock awards for the three months ended March 31, 2020 is presented below (in thousands, except per share data):
|  |  |  | Weighted-Average |
|  |  |  | Grant Date |
Stock Awards |  | Shares |  | Share Value |
Non-vested as of January 1, 2020 |  | 939 |  | $ | 5.02 |
Granted |  | 10 |  | $ | 4.00 |
Vested |  | (3) |  | $ | 4.32 |
Forfeited |  | (5) |  | $ | 5.98 |
Non-vested as of March 31, 2020 |  | 941 |  | $ | 5.01 |
As of March 31, 2020, the unamortized compensation costs related to unvested restricted stock awards was approximately $3.8 million, which is to be amortized on a straight-line basis over a weighted-average period of approximately 1.4 years.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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