Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2016

Schedule of share-based payment award, stock options, valuation assumptions

The weighted-average assumptions used to value options as of their grant date were as follows:




	Three Months Ended March 31,
	2016		2015
Risk-free interest rate	1.43	%	1.54	%
Expected volatility	38.22	%	44.30	%
Expected life (in years)	4.17		4.18
Dividend yield	0	%	0	%

Subject to stockholder approval at the Company's 2016 Annual Meeting of Stockholders, the Board of Directors has approved a 2016 Equity and Incentive Plan, which would reserve 3,000 shares of common stock for issuance under such plan, plus certain additional shares in respect of outstanding awards that may be forfeited, canceled, reacquired by the Company, or terminated.

(b) Employee Stock Purchase Plan

Under the terms of the Company’s Amended and Restated Employee Stock Purchase Plan (ESPP), eligible employees can elect to have up to six percent of their pre-tax compensation withheld to purchase shares of the Company's common stock through six-month offering periods. The ESPP allows eligible employees to purchase the Company’s common stock at 85% of the market price at the end of each offering period. As of March 31, 2016, the Company is authorized to issue up to 650 shares of common stock under the ESPP and substantially all of those shares had been issued. Subject to stockholder approval at the Company's 2016 Annual Meeting of Stockholders, the Board of Directors has approved an amendment to the ESPP that authorizes the issuance of an additional 1,000 shares under the plan, changes the offering price to 85% of the fair market value of the Company's common stock on the first or last day of the offering period, whichever is less, and makes certain other changes to the terms of the plan. The Company recorded compensation charges of $13 and $14 for the three months ended March 31, 2016 and 2015, related to the ESPP.